Actually no, the Atlanta Fed revised 2Q estimates last Thurs from 3.7 to 4.2, giving us a shot at 4% GDP growth this year. Then, Friday, revised 2d Q DOWN to 2.7% saying “we’re not in prediction business” (LOL!)
I think high threes is the floor this year.
Economic growth is a function of two things: growth of population and growth of productivity. An economy simply will not grow unless it has one or both of these. The problem with the U.S. right now is that we have more than 95 million adults who aren't even part of the work force anymore. Many of these are retirees, so their presence isn't a problem except that they act as a giant drag on the "productivity" side of the equation.
I don't see this changing very quickly, and I suspect a lot of folks here on FreeRepublic won't be happy with the measures this country is using to prop up those numbers.
Yes consumer confidence is down the stock market is down; unemployment is at a 16 year high and everyone agrees Trump was a mistake..... oh wait ..... never mind. As you were.
The number of Americans renouncing citizenship hit an all time high. That would be WEALTHY Americans trying to escape the taxation. THAT is a REAL sign we are in trouble, but almost no one is talking about it.
In Southern California where I live, many businesses are shuttering and the store stays empty - sometimes for years.
Not mentioned is how California’s exorbitant minimum wage has helped to shut down these businesses - the local Subway just closed after 15 years.
I notice more and more businesses are putting in self-check out too, my new WalMart must have 15 self-check out stations but they’re in almost all grocery stores now. All gas stations are sel-service now.
The need more CONSUMERS to force the price of everything up and keep steady demand for all goods & services. And, they need compliant labor to produce those goods...near slave labor. So, they use OUR tax dollars to give them incentives to come here and stay here. You have been seeing outrageous home prices, rent prices, car prices, etc. and it is because of the demand for those things by more people. Supply and demand.
Those driven only by the profit motive do not care what kind of philosophy comes with that influx of peoples. As a result, such a philosophy is doomed to destruction.
As the old adage said: “The markets climb a wall of worry.” And have they ever.
The trend lines are positive. Anecdotally, I’ve seen construction and commerce expanding quickly in central FL coast to coast.
Maybe not robust, but better in the last quarter, and the quarter ended Mar.
The St.Louis fed (FRED) is probably updated by now (third revision).
5.56mm
The anti-Trumpers will stop at nothing and I mean nothing to discredit our President, including taking down this country. Such shame.