No, seriously, they are about to release finalized jobs data on Wednesday, and it’s going to show somewhere between 600,000 and 1,000,000 less jobs created than previously thought.
I really wish people knew what the word “lied” actually means. This is part of the normal revision and updating process that happens every year. Is it higher than normal? Yes. That doesn’t make the previous reports lies. They put out reports based on the information they have. When they get additional information they update it. That’s not lying. Lying would be if they found additional information and didn’t update it. See the difference?
So 2nd quarter GDP revised upwards to 3 percent. That’s good news.
So with this revision upwards, will some of the posters here who think revisions are lies care to weigh in? Did the Bureau of Economic analysis lie in the first estimate to .ale everyone thin the economy wasn’t doing as well as it actually was? I’m curious on certain posters take on this.
Same as I said last time and the time before and the time before.
GDP is measured by money spent (primarily consumption spending) regardless of where that money came from.
Right now the GDP looks good on paper because the GDP ignores the fact that we are still spending out of that great big pallet of helicopter money printed during the pandemic.
It will likely continue until “the money supply” returns to its normal range, (45-60% of GDI.)
Speaking of trouble the real estate market is in big trouble:
WORST LEVEL EVER!!
US pending home sales are lower than during the housing crisis
and lower than . . .
checks notes
when the entire country was shut down, including many banks, lenders, appraisers, realtors, and closing companies etc. , we had 13% unemployment and everyone thought they were going to die.
Whichever gets in trump or kamala they have a huge governement spending problem on their hands. Its not sustainable. Kamala wants to run businesses communist style so we know she isnt the man for the job. She is clueless to put it nicely