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The US economy is pulling off something historic

 
Zoom in closer, as a percent of GDP:

1721963867604.webp
 
  • Real GDP grew 2.8%
  • The unemployment rate was 4.0%.
  • Inflation was down to 2.8%.
  • Real wages were up 1%.
  • Real disposable personal income was up 1.3%.
  • Real consumption was up 1.5%.
What's not to like?
 
jpn said:
  • Real GDP grew 2.8%
  • The unemployment rate was 4.0%.
  • Inflation was down to 2.8%.
  • Real wages were up 1%.
  • Real disposable personal income was up 1.3%.
  • Real consumption was up 1.5%.
What's not to like?
Click to expand...
The bills aren't getting paid, we're living off the credit card, all these numbers are off the credit card.

I say we grow slower, healthier, steadier and more stable.
 
Exquisitor said:
The bills aren't getting paid, we're living off the credit card, all these numbers are off the credit card.
I say we grow slower, healthier, steadier and more stable.
Click to expand...
If you want to slow growth a bit while increasing revenues, the answer for that is a tax hike. Preferably on those who can afford it--the rich.

Trump is proposing the opposite.
 
jpn said:
If you want to slow growth a bit while increasing revenues, the answer for that is a tax hike. Preferably on those who can afford it--the rich.

Trump is proposing the opposite.
Click to expand...
And they predict a recession.

I'm for everyone paying their fair share, I want everyone to pay more than their fair share, you don't get out of debt spendthrift, everyone must ante up austerity.
 
Exquisitor said:
I say we grow slower, healthier, steadier and more stable.
Click to expand...

Some economists and market analysts say we are growing slower. In fact, some claim we’ve been in a recession since last fall. Real GDP data is only as good as the deflator used to compute it. If inflation is understated, real GDP will be overstated. That may be why many Americans have a sense that this economy is not as hot as official BEA stats claim it is, and even those figures are nothing to write home about. I mean, 1.4% growth in Q1? Come on.

Regardless, whatever growth we are achieving is largely being driven by the assumption of debt. Economic growth and rising living standards in the long run come from a rise is net national savings. Americans don’t know what the word “savings” means. But it doesn’t come from higher levels of government taxation and spending. Neither does it come from the inevitable collapse of asset bubbles driven by speculative manias, more of which we’ve seen in recent years thanks to plentiful and cheap liquidity and financing designed to support less the real economy than the financial economy.
 
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