The Briefing Room
General Category => Economy/Business => Topic started by: mystery-ak on January 25, 2024, 02:07:07 pm
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GDP Soars 3.3%, Much Higher Than Expected
John Carney 25 Jan 2024
The economy grew at a much faster than expected in the final months of 2023, the Bureau of Economic Analysis said Thursday.
Gross domestic product, the government’s broadest scorecard for the economy, rose at an inflation-adjusted 3.3 percent annual pace in the fourth quarter.
Economists had been expecting the economy to grow at a two percent pace in the October through December period. Even the most bullish forecasts saw just 2.5 percent growth in the fourth quarter.
After adjusting for inflation, the economy grew at a 4.9 percent pace in the prior quarter.
The rapid pace of growth in the fourth quarter could upend expectations for Fed cuts early this year. Fed officials have said that they think the economy will need to grow “below trend”—around 1.8 percent—for a period of time for inflation to sustainably fall to the central bank’s two percent target.
Economists have been debating whether the economy could achieve a “soft landing” this year, defined as a sustained fall in inflation to two percent while the economy continues to grow at a solid pace. Some say the economy is headed for a “hard landing,” in which growth slumps or the economy falls into a recession as inflation falls. A third view sees “no landing,” where the economy continues to grow above trend and inflation does not fall sustainably to the Fed’s target.
more
https://www.breitbart.com/economy/2024/01/25/gdp-soars-3-3-much-higher-than-expected/
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They should actually raise interest rates again, but they won't.
Not in an election year
Unfortunately, the decisions to raise interest rates have become more political and less based on economics
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They count government spending of printed money as part of the GDP...
It is all lies.
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They count government spending of printed money as part of the GDP...
It is all lies.
The problem comes when the drug of printed money isn’t enough
This is why we are screwed this election cycle
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In previous decades, 3.3% annual GDP Growth would have been blah or a disappointment.
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The stock market 'boon' is all inflation. It is not real money.
This is all inflation numbers meant to fool idiots.
Yeah!! Wahoo!! my car is now worth 120,000 dollars! I'm rich! (in monopoly money)
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The stock market 'boon' is all inflation. It is not real money.
This is all inflation numbers meant to fool idiots.
Yeah!! Wahoo!! my car is now worth 120,000 dollars! I'm rich! (in monopoly money)
You guys wanted to get rid of Trump "at any cost". OK ... you did that. You got what you wanted.
YOU SAID ... I would rather die than to have Trump as President.
Biden is calling your bluff. If you want to die, Biden says ... then die.
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You guys wanted to get rid of Trump "at any cost". OK ... you did that. You got what you wanted.
YOU SAID ... I would rather die than to have Trump as President.
Biden is calling your bluff. If you want to die, Biden says ... then die.
Trump launch the inflationary cycle by massive deficit spending and paying people not to work or pay their rent. Biden just continued it.
Voting for more of the same and not expecting more of the same is insane.
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Trump launch the inflationary cycle by massive deficit spending and paying people not to work or pay their rent. Biden just continued it.
Voting for more of the same and not expecting more of the same is insane.
LOL! OK so it is so freezing cold because of Global Warming. It is cold because it is hot? or ... something like that? i guess
Now we hear that everything Biden/Obama has done is Trump's fault. Trump is what brought us here!
Not Biden ... Not the Democrats ... every single thing wrong in the world is Bush's ... Trump's fault.
You gave me a good chuckle. Thank you.
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LOL! OK so it is so freezing cold because of Global Warming. It is cold because it is hot? or ... something like that? i guess
Now we hear that everything Biden/Obama has done is Trump's fault. Trump is what brought us here!
Not Biden ... Not the Democrats ... every single thing wrong in the world is Bush's ... Trump's fault.
You gave me a good chuckle. Thank you.
Get a clue dude. Just go look at the numbers...
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Get a clue dude. Just go look at the numbers...
He won’t
Printing trillions of dollars in a short amount of time and throwing into the economy leads to inflation
Inflation was low during 2020 because the economy was shut down
Once it opened, inflation soared and Biden helped add fuel to that with his own inflationary policies
That has been explained many times to the MAGAs but they have their own narrative
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Get a clue dude. Just go look at the numbers...
Apparently, my numbers are different than your numbers.
During the Trump years, my numbers were Great (in market basket economic terms).
During the Biiden years, I may have doubled my 'net worth'' (in terms of specific numbers of dollars) but it is meaningless.
Since everything has doubled, quadrupled, or more in price.
You cannot piss on me and then tell me it is raining $dollars.
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Apparently, my numbers are different than your numbers.
During the Trump years, my numbers were Great (in market basket economic terms).
During the Biiden years, I may have doubled my 'net worth'' (in terms of specific numbers of dollars) but it is meaningless.
Since everything has doubled, quadrupled, or more in price.
You cannot piss on me and then tell me it is raining $dollars.
It's pretty easy to make things look good for a little while when partying on the credit card. Trump's deficits ran about 10 trillion dollars in just 4 years. That's the hard cold reality of it. That spending has consequences and along with Bidens similar spending and now you're living it.
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I am a MAGA retarded fool. However, I agree with the NeverTrumpers on some points.
1. It was a great move to close the Keystone pipeline.
2. It was a great move to drain our national oil reserves to zero.
3. It was a great move to go stumbling and bumbling around the world, talking about 'going to bed'.
4. It was a great move to sue Texas for enforcing its own borders.
Everything right with the world is because of Trump not being in office.
Everything wrong with the world is because of Trump. (in office three and a half years and persecuted the whole time)
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I am a MAGA retarded fool. However, I agree with the NeverTrumpers on some points.
1. It was a great move to close the Keystone pipeline.
2. It was a great move to drain our national oil reserves to zero.
3. It was a great move to go stumbling and bumbling around the world, talking about 'going to bed'.
4. It was a great move to sue Texas for enforcing its own borders.
Everything right with the world is because of Trump not being in office.
Everything wrong with the world is because of Trump. (in office three and a half years and persecuted the whole time)
It isn't an either/or. Trump did some things right and are long gone - but some of the lasting thing he did were disastrous.
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Apparently, my numbers are different than your numbers.
During the Trump years, my numbers were Great (in market basket economic terms).
During the Biiden years, I may have doubled my 'net worth'' (in terms of specific numbers of dollars) but it is meaningless.
Since everything has doubled, quadrupled, or more in price.
You cannot piss on me and then tell me it is raining $dollars.
It’s obvious that you don’t know what causes inflation
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It's pretty easy to make things look good for a little while when partying on the credit card. Trump's deficits ran about 10 trillion dollars in just 4 years. That's the hard cold reality of it. That spending has consequences and along with Bidens similar spending and now you're living it.
@DB
You are an idiot.
This thread is like trying to discuss Calculus with toddlers.
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@DB
You are an idiot.
lol
When losing the argument, name call
@DB is 100% right. Trillions of dollars of deficit spending to pay people to stay home and to prop up businesses happened on the Trump presidency.
And that trillions of dollars was covered with massive currency printing
You’re entitled to your own opinion. But you’re not entitled to your own facts.
You're of the mindset, that because prices were still low at the end of Donald Trump’s term, that those trillions of dollars were printed during Covid and sent out to the economy didn’t have any consequences
Of course, inflation would show itself during the shutdown. With everything shut down, nobody was driving to work. Businesses weren’t selling anything and people weren’t buying anything.
Oil prices also crashed as a result. But once things open up, boom!!!
And then add in the Biden deficits and spending on top of it
Explains this to MAGAs is like explaining basic economics to toddlers
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No man. You misunderstand me. If you guys want to sleep in your own piss, then great. Forward on ... Biden 4 more years.
I do not care about all of this personal crap. Go on! Do what you have to do. I simply do not care.
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No man. You misunderstand me. If you guys want to sleep in your own piss, then great. Forward on ... Biden 4 more years.
I do not care about all of this personal crap. Go on! Do what you have to do. I simply do not care.
Both I and DB have also condemned Biden for the same fiscal and monetary policy, and Biden’s own faulty and misguided energy policy
It’s you that remains in denial about what Trump did.
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Short-term Treasury Rates are still higher than long-term rates:
https://www.bloomberg.com/markets/rates-bonds/government-bonds/us (https://www.bloomberg.com/markets/rates-bonds/government-bonds/us)
This indicates that there is a near-term cash crunch - there's not enough cash for servicing debt payments or debt refinancing.
The amount of near-due credit payments exceeds the amount of cash on-hand to service those payments or re-financing.
If the Fed raises rates, banks, which borrow short and lend long, could become insolvent. The Fiscal Year cost of servicing the US Debt may increase exponentially as older lower-rate notes mature and newer higher-rate notes have to be issued for the same, or increased, principal amounts.
The Fed is trapped to keep the rates the same for the near-term.
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@DB
You are an idiot.
This thread is like trying to discuss Calculus with toddlers.
Nice.
I happen to be an engineer. Bad analogy...
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Nice.
I happen to be an engineer. Bad analogy...
@DB
Really. So am I. That's my turf. What did you major, where did you work? Are you registered with IEEE?
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240b, forget it.
Some folks can't see the sarcasm without the "/s" ...
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@DB
Really. So am I. That's my turf. What did you major, where did you work? Are you registered with IEEE?
My first job as an engineer was at California Microwave Inc (CMI) in the telecom division in the 80's. I was a member of IEEE quite a while ago. The benefits weren't worth the cost. I can't publicly reveal where I've since worked because it will reveal my identity. I'm one of the owners. I'm still very active in communications equipment sector. We sell to private companies and governments all over the world. There's a fair chance that some of your digital communications, particularly via satellite, has gone over equipment that I designed.
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My first job as an engineer was at California Microwave Inc (CMI) in the telecom division in the 80's. I was a member of IEEE quite a while ago. The benefits weren't worth the cost. I can't publicly reveal where I've since worked because it will reveal my identity. I'm one of the owners. I'm still very active in communications equipment sector. We sell to private companies and governments all over the world. There's a fair chance that some of your digital communications, particularly via satellite, has gone over equipment that I designed.
Quite a résumé