I guess that depends who ya ask and who is president when ya ask her.
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consumer spending was up like crazy.
we exported a ■■■■ ton of oil.
sorry that the GDP continues on its merry way.
Allan
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Amongst the good news is this type of news as well:
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3.3% growth with 3.2% core inflation = not ■■■■
Basically, the value of goods and services increased by the ammout the prices for it increased.
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I’m sorry, but this really just shows you have no idea what you’re talking about. Just to help, these numbers are adjusted for inflation. I’m sure you didn’t know that.
Your thread title is wrong. The 4th quarter GDP is not up 3.3%, it’s down 32.65%.
No you are incorrect. 4th quarter GDP on initial estimate is up 3.3%. If you can’t accept that I don’t know what to tell you.
No, it is not “up” 3.3%, it is simply 3.3%. That is down 33% from the 3rd quarter. If it were up 3.3%, it would be 5.1%.
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On Credit.
Savings rates and levels are at historic lows.
Actually he knows exactly what he’s talking about.
Hows that. A percent is a unit-less value. It is only useful as a ratio.
mmmm
From your article
. . . . According to LegalShield’s data, there’s been a notable 24.7 percent increase in Gen X and a 40.1 percent surge among Millennials reaching out for bankruptcy assistance year over year. . . .canary in the coal mine . . .
. . . It’s reflected in broader economic data. U.S. household debt has seen an increase, rising 1.3 percent in the third quarter of last year to a record $17.29 trillion. . . .
The first part speaks of the K-shaped economy.
The second part shows that a large part of the “GDP growth” is an illusion brought on by people (and companies) devouring money left over from the COVID helicopter money.
Chart below is about six months old, but illustrates what has been going on.
Since Jan 2022 American households have been drawing down savings, checking etc. and spending it. That trend continued unabated in the the final 12 months of the chart.
In the final 12 months of the chart (which precedes this morning’s GDP by six months) the GDP grew by $1.2t while American households drew down their checking and savings accounts by $1.1t. I have no doubt that something similar happened this quarter.
Like refugees feeding themselves out of a food truck, it’s great that they are getting plenty of food, (Good news!!) but it doesn’t mean their fields are healthy nor that the economy is strong.
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On a completely unrelated note, I think I saw a snowfinch hopping around with the sparrows and robins today. Here’s hoping for an early spring.
It is still all sparrows around here.
I feed them daily. Sparrows look almost identical to finches but their behavior is different.
Sigh. I must be an old man when I can tell a finch from a sparrow by its behavior.
I just like watching the little ones that hop instead of walk. Makes me feel squishy. lol
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From your mouth to God’s ears. I had to put away a big landscaping project mid-way late fall. I’m itchin’ to get back at it.
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no they are not, tht would be “real GDP”. I’m sure you thought you knew what you were talking about, but not so much.
ETA: I looked at the actual report and it is Real GDP. I don’t mind being mistaken. However, all of the increase is due to spending, the actual quantity of goods (imported) fell. Inventories are down, construction on homes is down. That does not bode well for the next year. The biggest increase was health care spending. Increased government spending added a chunk too. Does the fact that people have to spend more money on health care really sound like a good thing? They’re not getting more health care, they’re just paying more for it. Does spending more for government get us anything?
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GDP.
HEB.
Which one matters to me.
Earn a hundred dollars from work and spend it,
or, if times are tough and you can’t get by on your wages,
take a hundred dollars out of the bank and spend it.
Either way, the GDP grows by $100, and on paper the economy is $100 healthier.
On paper, the two methods are treated as the same. But in reality they are not the same.
The economy is weak, it is not able to perpetuate our standard-of-living and people are consuming their savings just to limp-by.
Good news! The savings they needed to limp-by was in place.
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