U.S. economy grew at a 2.8% pace in the third quarter, less than expected

[catfish1957]

https://www.cnbc.com/2024/10/30/us-gdp-q3-2024.html

<snip>

The U.S. economy posted another solid though slightly disappointing period of growth in the third quarter, propelled higher by strong consumer spending that has defied expectations for a slowdown.

Gross domestic product, a measure of all the goods and services produced during the three-month period from July through September, increased at a 2.8% annualized rate, according to a Commerce Department report Wednesday that is adjusted for inflation and seasonality.
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The Biden admin has lies every quarter on fin data for new reasons, while every downgraded update makes it Page 11.  A data point this important, and it doesn't beat expectations?  No telling, the economy might actually be contracting.  We'll find out in a few months.

In any case, this is not the news Kamel-uh wanted to see.

[catfish1957]

Another indicator that Kamel-uh is losing?  The price of oil has dropped about $10/bbl in the past month despite ME tension, and no other market fundemental to say otherwise.  Appears her demise has already been factored in. 

Don't forget...   "Drill baby Drill" means lower prices at the pump.   I know this hurts my stock price, but it's worth it, to keep this bitch out of the White House.

[mystery-ak]

GDP Report Shows Economy 'Weaker Than Expected'
Leah Barkoukis


The U.S. economy posted “slightly disappointing” growth for the third quarter. Gross domestic product expanded at a 2.8 percent annual rate, adjusted for inflation and seasonality, the Commerce Department announced Wednesday.

Job Creators Network said that looking at the details shows the "economy is far weaker than this number suggests."

"Domestic economic investment was essentially flat in the third quarter, while government spending surged by nearly 10%, more than twice the previous quarter's increase," JCN CEO Alfredo Ortiz pointed out in a statement. "Unlike the real economy, driven by small businesses, the government does not create value, and government spending comes at the expense of the type of meaningful economic growth that drives living standards.

"Meanwhile disposable personal income grew at its slowest rate since 2021, and the personal savings rate fell, demonstrating ordinary consumers are tapped out in the Biden-Harris high-cost economy," his statement continued. "Only pro-growth, conservative policies from a Republican Congress and presidency can generate the real private-sector growth on Main Street needed to improve Americans' quality of life and financial security."

more
https://townhall.com/tipsheet/leahbarkoukis/2024/10/30/3q-gdp-n2646983

[GtHawk]

Why should I believe these people about anything, if they say it grew by 2.8% what is the real number, how low is it really? Seems like every week I’m reading about major companies shutting down or laying off thousands or even tens of thousands but the economy is still growing by 2.8%

[corbe]

   To be REVISED at a later date.

[berdie]

   To be REVISED at a later date.

Correct. I read every day about companies going under.

Restaurant chains...likely due to the restrictive economy.

Brick and mortar retailers...likely due to on line shopping.

[libertybele]

Why should I believe these people about anything, if they say it grew by 2.8% what is the real number, how low is it really? Seems like every week I’m reading about major companies shutting down or laying off thousands or even tens of thousands but the economy is still growing by 2.8%

 

[GtHawk]

I love Gahan Wilson, I was  first introduced to him when I was in junior high reading Playboys we found in the library dumpster.


 

[DB]

The printed money counts in the plus column of GDP...

2024 will close out with about 1.9 trillion dollars of deficit spending in just that year - all counted as GDP - where nothing was actually produced to create that "money".

So that deficit spending is about 6.7% of the total GDP of the USA in 2024. The reality is we are in deep trouble. The GDP would be very negative without that accounting lie.

There's going to be hell to pay.