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FREDPosted on 08/30/2015 6:53:48 AM PDT by SeekAndFind
The US economy continues to grow at a modest, steady rate.
And this is great news.
Over the last year and a half, the economic story in the US has been the same: a disappointing start to the year followed by a rebound that overall indicates the economy is growing a bit more than 2% per year.
This week, we saw extreme volatility in the US stock market.
And while these wild price swings made headlines, the most important news of the week came Thursday morning, when we learned that the US economy grew 3.7% in the second quarter, better than economists had expected.
Compared to the prior year, the US economy grew 2.7% in the second quarter of 2015, right about what it's been for the last year or so.
FRED
Over the last year, two things about the US economy have been true: the labor market is rapidly improving and GDP growth is solid but not great.
Going into the August jobs report last year, the unemployment rate stood at 6.2%; now it stands at 5.3%. But a year before that — so, July 2013 — the unemployment rate was at 7.3%.
And so for two years we've seen massive year-on-year improvements in the broadest measure of the labor market's health. Meanwhile, total nonfarm payrolls have grown by over 5 million during this two-year period.
Solid and stable.
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FRED
Despite these indications of a solid and stable US economy, something that has come up more than once in 2015 is the prospect of a US recession.
(Excerpt) Read more at businessinsider.com ...
I had forgotten that disgusting factoid. Thanks for pointing it out.
So, the feds confiscate $80 billion from us, then give it to the banks and call that GDP growth. Or they print funny money, give it to the banks and call that GDP.
How much fake money has the fed inserted into the banks? Something close to $4 trillion if I recall correctly. So the fed has “increased” our GDP by $4 trillion with nothing more than smoke & mirrors.
Don’t worry, in a little over a year, if someone with (R) after their name is elected, the media will immediately report stories about how horrifically awful the economy is, and once again the word “unexpected” will be used to downgrade good news
You can almost smell the kool-aide when you read this......
That nails it!
House of cards waiting for the inevitable breeze...or intentional "nudge" at the right time.
What a hoot it will be to read stories like these a year from now and all the pretzel logic they will come up with on how great things are.
The polls show the people who know those who can’t get work or are only getting part time work are not giving the economy high marks. Its hard to fool people who live in the real world poor economy.
What bugs me is that black people with double the unemployment rate still back this halfrican. Does color matter more than their lessor economic existence? I don’t think in terms like this, if a white guy like Carter messes up I cannot for one second vote or support him. I want a competent person in the White House, color is not ever a consideration, Jindal would do a great job.
“What bugs me is that black people with double the unemployment rate still back this halfrican. Does color matter more than their lessor economic existence?”
This is a great illustration of how far most blacks are removed from the workforce, and therefore from the mainstream altogether. Assimilation has failed; they’ve become a mass of beggars living off alms passed along at gunpoint by the government. Obama bought them not with promises of jobs (that line was to dupe white liberals), but promises of free sh!t. He really is the Welfare President...
Here in the northeast there has been no recovery (I doubt we’ve even reached bottom yet), and Drudge’s story about Red China & India combined surpassing Mexico as exporters of Third Worlders to the US is a frightening sign that for most Americans, there will be no recovery. What Mexicans did to blue-collar Americans, these Asian imports are doing to white-collar Americans. I already see so much of this in the financial, tech, and medical sectors; nice to see it finally making the news.
No—They are not.
Business Insider is neither business-oriented, nor an insider.
Correct, you are.
Come down from your highrise apt, are the obama peole paying you
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