Posted on 11/29/2023 6:28:18 AM PST by Kaiser8408a
Where has all the GDP gone? Not to wages.
As expected, Q3 Real GDP was revised upwards to 5.2% annualized. Of course, this shatters JKP’s talking points that Biden inherited a train wreck of an economy from Trump. Q3 2020 Real GDP grew at over 30%.
And on a year-over-year (YoY) basis, US real GDP grew at 3.0% in Q3. Unfortunately, real hourly compensation grew at a measly 0.6% YoY.
Meanwhile, home prices have hit an all-time high. Too bad real wages are so low.
(Excerpt) Read more at confoundedinterest.net ...
I have no idea how anyone under 30 can afford a home now. Everything now is the cost of dream homes just a few years ago.
Even in medicine, a second opinion is valuable. In politics today, it is crucial.
My social security payments are going up faster than wages.
Because I live in Kentucky where there is a very low cost of living, and I have zero debts and have paid off my mortgage, it’s possible to live quite comfortably on social security alone. And what’s kind of comical is my annual social security raises are outstripping the local cost of living increases. Our property taxes even went down considerably, from around $465 to around $325 - per year.
At least that’s the case for us.
Good post.
You figured out the secret—cost of living is the key to retirement.
Social security uses the same formula if you live in CA or KY—even though the KY dollar goes at least twice as far (and five times as far where real estate is concerned).
National statistics are a hilarious mixture of apples, oranges, peaches and grapefruits.
;-)
GDP Revised Upwards To 5.2%
Because of government spending and business investments.
Breitbart
North Alabama for me. Rlatively cheap living, compared to Atlanta. No auto payment or mortgage, property taxes reasonable, again compared to Atlanta.
My lifestyle is naturally not as a spendthrift, so I get by well enough on my monthly SS. As with a lot of retirees, medical is a looming future unknown. [knock wood]
True. GDP includes govt spending. IMO this makes GDP not the best indicator of health of the economy.
Agree just another way of trying to get us to take the bait.
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