US Economy

  • Thread starter Thread starter evrheel
  • Start date Start date
  • Replies: 15
  • Views: 397
  • Politics 
evrheel

evrheel

Esteemed Member
Messages
540
Looks like once again Trump has fixed the economy before taking office, just like in 2017, when he brought 2016 unemployment from as high as 40% per Trump of course he left office with the economy in a recession.

US economic growth beats expectations in final snapshot of Biden presidency​

GDP rose at a 3.1 percent annualized pace in the third quarter of the year, according to Commerce Department data released Thursday, after growing at a 3 percent rate in the second quarter — a rapid clip for an economy of the U.S.’s size. That growth, fed by steady consumer spending, comes alongside a still-low unemployment rate of 4.2 percent and much-improved inflation, which has fallen below 3 percent.

 
Last edited:
Well trump and musk are doing their best to make the last month of Biden look bad...
 
wmheel1287 said:
Where? Where is it surging? I know the experience of one person is not data but I see people all around me (in a pretty affluent and resilient area) pulling back big time.
Click to expand...
I've been really surprised at the volume of people out shopping this Christmas season.

I've been right there, but I've also notice how much higher all the prices are. Especially food. It's crazy how things that used to be $6-7 are now $15-18.

I took the family to Freddy's the other night it was $80.
 
That GDP figure is bullshit. I can figure out what's going on here; it's not that difficult.

Inflation is higher than the BS data put out by the commerce department. The real GDP is determined by the nominal GDP (what is directly measured) and then "deflated" by the inflation rate. If inflation is actually 4% instead of 2.7%, then:

1. "Affordability" crisis makes more sense, since people aren't acting like inflation is 2.7%.
2. The GDP growth would be more like 3%, which still seems ridiculously high but at least possible.

I just do not see how our labor market is consistent with a 4.3% increase in GDP. They just aren't compatible. I don't care if unemployment is a lagging indicator or what have you. This is simple logic, but it worked when I predicted that there was no recession in Biden's term; the two consecutive quarters of slightly negative growth only reflected lumpiness in economic timing and not actually an economic downturn: the jobs numbers were just too good for that to be the case.

There's also the issue of AI centers. I really don't know the minute details of GDP measurement, and I'm not exactly sure how something like "a new AI data center." Do they account for it at cost? I doubt it, because that's unlikely to generate big productivity gains in the short term. Do they account for it at predicted value? If so, that seems awfully speculative. But I would be wary of a GDP report that relies so heavily on that type of data point -- though I still suspect inflation is the real culprit here.
 
UNCatTech said:
I've been really surprised at the volume of people out shopping this Christmas season.

I've been right there, but I've also notice how much higher all the prices are. Especially food. It's crazy how things that used to be $6-7 are now $15-18.

I took the family to Freddy's the other night it was $80.
Click to expand...
Agree. Shopping this year has been crazy busy. I’ve never seen Lenox and Avalon more crowded. Glad I’m finally done.
 
UNCatTech said:
I've been really surprised at the volume of people out shopping this Christmas season.

I've been right there, but I've also notice how much higher all the prices are. Especially food. It's crazy how things that used to be $6-7 are now $15-18.

I took the family to Freddy's the other night it was $80.
Click to expand...
I mean, for all intents and purposes, this may be our last Christmas as a country, so maybe everyone is loading up now?
 
Ramrouser said:
Agree. Shopping this year has been crazy busy. I’ve never seen Lenox and Avalon more crowded. Glad I’m finally done.
Click to expand...
Wow, you come all the way out to the Avalon?

I almost purchased one of the townhomes there, really wish I had as it was $400K at the time. They are now over a million.
 
UNCatTech said:
I've been really surprised at the volume of people out shopping this Christmas season.

I've been right there, but I've also notice how much higher all the prices are. Especially food. It's crazy how things that used to be $6-7 are now $15-18.

I took the family to Freddy's the other night it was $80.
Click to expand...
K-shaped economy.

The top 20% are propping up the economy while the lower and middle classes struggle.
 
UNCatTech said:
I've been really surprised at the volume of people out shopping this Christmas season.

I've been right there, but I've also notice how much higher all the prices are. Especially food. It's crazy how things that used to be $6-7 are now $15-18.

I took the family to Freddy's the other night it was $80.
Click to expand...
I picked up dinner last night at a local Mexican place for our family of five. No drinks. No tip. Just entrees and a side of queso to share.

It was $91.
 
You must log in or register to reply here.
Back
Top