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No, GDP Didn’t Jump “33.1%” in Q3, But 7.4%, after Plunging 9% in Q2: Time to Kill “Annualized” Growth Rates. Imports, Powered by Stimulus, Dragged on GDP
No, GDP Didn’t Jump “33.1%” in Q3, But 7.4%, after Plunging 9% in Q2: Time to Kill “Annualized” Growth Rates. Imports, Powered by Stimulus, Dragged on GDP GDP back to Q1 2018. Worst ever “net exports.” The decline in government spending was also a drag. “GDP per Capita” bounced back only to 2017 level. The […]
What Does it Mean, Saving Rate drops to 12-Year Low when 50% of Americans Don’t Have Savings?
What Does it Mean, Saving Rate drops to 12-Year Low when 50% of Americans Don’t Have Savings? Or what the averages are hiding. We will start with income and see what’s left over, and for whom. Personal income increased by 4.1% in December from a year earlier, the Bureau of Economic Analysis reported today. This […]
How Much Illusion in GDP? What You See Is Not What You Get
How Much Illusion in GDP? What You See Is Not What You Get Oh, the revisions. The US economy, as measured by “real” GDP (adjusted for a version of inflation) grew 0.74% in the third quarter, compared to the prior quarter. That was a tad slower than the 0.76% growth in Q2, but up from […]
Bank Of America Begins 66-Day Countdown Until The Terrible Ghost Of 1937 Returns
Bank Of America Begins 66-Day Countdown Until The Terrible Ghost Of 1937 Returns In 66 trading days on September 17, 2015, the Federal Reserve will, according to Bank of America, hike rates for the first time since 2006, which according to BofA will “end the era of excess liquidity.” We disagree entirely, but let’s hear […]
A Recession Within A Recession
A Recession Within A Recession On Friday, the federal government announced that the U.S. economy contracted at a 0.7 percent annual rate during the first quarter of 2015. This unexpected shrinking of the economy is being primarily blamed on “harsh” weather during the first three months of this year and on the strengthening of the […]
Has The Fed Already Lost?
Has The Fed Already Lost? Growth is dying & the Fed has few options left Increasingly we live in a world of Now. Instantaneous access to digital real time data and news has simply become a given in our lives of the moment. You may be surprised to know that the Federal Reserve has taken notice. […]
Economy Finally Reaches “Escape Velocity,” Heads South
Economy Finally Reaches “Escape Velocity,” Heads South It’s hard to measure the growth rate of a vast, complex economy with just one number, accurately, and on a timely basis. The Chinese found an ingenious solution. They decree the growth rate and announce it in advance, and that’s about what the number says when it comes out. It’s faster […]
Magic Growth Numbers — Paul Craig Roberts – PaulCraigRoberts.org
Magic Growth Numbers — Paul Craig Roberts – PaulCraigRoberts.org. Everyone wants good news, so the government makes it up. The latest fiction is that US real GDP grew 4.6% in the second quarter and 5% in the third. Where did this growth come from? Not from rising real consumer incomes. Not from rising consumer credit. […]
