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This week, much of the mainstream media ran with the headline that the economy contracted in the first quarter of this year. Predictably, they promptly blamed President Donald Trump. But a quick glance under the hood shows the data points to a much stronger economy than the headlines suggest. On Wednesday, the Bureau of Economic Analysis released its estimate of economic growth measured by gross domestic product (GDP) for January through March. The topline figure pointed to a contraction of 0.3 percent—a number that certainly doesn’t seem positive. If we learned anything from economic data under former President Joe Biden,...

On Monday’s broadcast of the Fox Business Network’s “Kudlow,” host Larry Kudlow said that he doesn’t really think using trade deficits to calculate tariffs is a good idea and that if the Trump administration gets tax cuts and deregulation, it will spark growth and “We will grow faster than almost anybody. Therefore, almost by definition, by growing faster than the rest of the world, we’re always going to have a trade deficit.” While speaking with Treasury Secretary Scott Bessent, Kudlow said, “I don’t know if you heard Art Laffer in the prior interview, but Art doesn’t believe that the trade...

During the opening monologue on Sunday’s broadcast of FNC’s “Life, Liberty & Levin,” host Mark Levin offered his view on President Donald Trump’s tariff plan and contrasted it with the Democratic Party’s approach to the economy. Levin called the Trump administration’s effort a “growth plan” while criticizing Democrats for their approach centered on the redistribution of wealth. Transcript as follows: LEVIN: Can somebody please tell me what exactly are the Democrats doing to help our economy, to improve our country? What are they doing to help working men and women across the country, manufacturing across the country? All they want...

All of the 10 fastest growing counties with more than 20,000 residents between 2023 and 2024 were in five states (see Table below), according to just released Census Bureau data (Texas, Georgia, Florida, South Carolina and Arizona). Nine of the 10 fastest growers were in the now dominant southeast region. Taxes are well below the median in each of these states and they are all right to work states. Four of the fastest growing counties were in Texas. Kaufman County in the Dallas-Fort Worth metropolitan area had the largest percentage increase among the metropolitan areas. The nation’s fastest growing county...

If you think the son/niece/grandchild in your life is sprouting before your eyes now that the winter clothing has been shed, you're probably not imagining things. Researchers have long studied the connection between seasonal changes and youth growth patterns, with substantial evidence pointing to higher rates of growth among children in the Northern Hemisphere during the spring and summer months. While we might question results drawn from, say, a 1930 publication, newer research has validated these older findings: A 2015 study of 760 Danish students aged 8 to 11 revealed the most growth recorded around April and May, while a...

Out of the world’s top 15 growth hubs, 14 are forecast to be located in Asia, according to the Growth Hub Index 2024 by British real estate service Savills. These cities have been identified as set to develop particularly quickly by 2033, based on indicators measuring rising wealth, expanding economies and the potential for new development and business expansion. As the following chart shows, four Indian cities feature in the top 10, with Bengaluru in the top position. It is followed by Ho Chi Minh City in Vietnam and India’s Delhi. Several reasons are cited for the anticipated rise in...

Kidults are all around youAn older boss was correcting a younger female employee. “There is no P in ‘hamster’,” said the boss. But “that’s how I spell it,” the 20-something objected. The boss suggested they consult a dictionary. The employee called her mother, put her on speakerphone and tearfully insisted that she tell her boss not to be so mean. It is an arresting vignette. The tearful employee appears to have imbibed the notion of “my truth”, a popular phrase intended to rationalise the speaker’s beliefs and shield them from criticism based on facts. You may say that 1+1=2,...

The growth of orders placed with American factories for durable goods stagnated in August, casting a shadow on claims by Vice President Kamala Harris that the Biden-Harris administration’s policies have bolstered U.S. industrial strength. The value of durable goods orders did not rise at all in August, the Commerce Department said Thursday. This was, however, better than expected. Economists had forecast orders would decline by 2.7 percent. In July, orders jumped 9.9 percent, a slight upward revision from the earlier estimate of 9.8 percent. Core capital goods orders, a measure which excludes volatile sectors like transportation and defense and is...

US job growth during much of the past year was significantly weaker than initially estimated, according to new data released Wednesday. The Bureau of Labor Statistics’ preliminary annual benchmark review of employment data suggests that there were 818,000 fewer jobs in March of this year than were initially reported

s many as a million jobs could vanish from US jobs data in revised numbers released this week. Jobs growth in the year through March was likely much lower than initially estimated, top bankers are warning. This could refuel concerns that the US economy is not as robust as it has appeared, and that the Federal Reserve is falling behind in its aim to lower interest rates. symbol 00:04 02:24 Read More The government will release its first revisions of jobs growth data on Wednesday, and then the final numbers are due early next year. Goldman Sachs economists expect jobs...

Democrats and pundits trying to put a brave face on the selection of Minnesota Gov. Tim Walz (D) as Vice President Kamala Harris’s running mate have sought to emphasize his personality and his life experiences. But none points to his record in his home state, and for good reason: Minnesota has declined significantly under Tim Walz’s leadership. Economically, Minnesota lags behind the rest of the nation, Barron’s reports: “Overall, Minnesota’s economy during Walz’s tenure has grown more slowly than that of the rest of the country.” The Center for the American Experiment adds: “Minnesota recently fell behind the country in...

When performing resistance training such as lifting weights, there's a lot of interest in how close you push yourself to failure—the point where you can't do another rep—and how it affects your results. Researchers analyzed how training close to failure or not impacts muscle growth and strength. The study primarily looked at how training close to failure affects muscle growth in the main muscles used in an exercise. For example, if an individual was doing leg presses, the focus was on how training close to failure affects the quadriceps. Researchers estimated the number of repetitions in reserve, which means how...

One southern city has become a boomer boomtown thanks to an influx of older Americans flocking to its age-restricted, bustling community. Georgetown, Texas is officially the fastest-growing city in the country in part due to its wealthy 55-and-older community called Sun City Texas. An analysis of Census Bureau data for cities with populations of at least 50,000 by The Wall Street Journal found Georgetown has now been the top city for population growth for three years in a row. Georgetown grew 11 percent in 2023, 14 percent in 2022 and 11 percent in 2021. The median age in the boomer-rich...

The majority of job growth in the United States since 2019 has gone to newly arrived migrants as working-class American men continue to fall out of the labor force, an analysis shows. The analysis, published by Steven Camarota at the Center for Immigration Studies, shows the extent to which President Joe Biden’s agenda to grow the labor market with mass immigration — rather than enticing Americans on the sidelines back into work — has been largely executed.

Washington’s addiction to deficit spending — a rare bipartisan habit — is unlikely to change, no matter the electoral outcome in November. A deep conviction exists on both sides of the political divide that fiscal consolidation, whether achieved through less spending or higher taxes, reduces growth. What this political consensus misses, however, are situations in which the classic trade-off is suspended — when smaller deficits can counterintuitively deliver more growth. Today’s macroeconomic environment is ripe for such an approach. Compared to the years before the pandemic, fiscal policy — government spending and taxation — has kept a foot on the...

U.S. economic growth was much weaker than expected to start the year, and prices rose at a faster pace, the Commerce Department reported Thursday. Gross domestic product, a broad measure of goods and services produced in the January-through-March period, increased at a 1.6% annualized pace when adjusted for seasonality and inflation, according to the department’s Bureau of Economic Analysis. Economists surveyed by Dow Jones had been looking for an increase of 2.4% following a 3.4% gain in the fourth quarter of 2023 and 4.9% in the previous period. Consumer spending increased 2.5% in the period, down from a 3.3% gain...

The US economy grew at a slower pace than expected in the first quarter. The Bureau of Economic Analysis's advance estimate of first quarter US gross domestic product (GDP) showed the economy grew at an annualized pace of 1.6% during the period. Economists surveyed by Bloomberg estimated the US economy grew at an annualized pace of 2.5% during the period. The reading came in significantly lower than fourth quarter GDP, which was revised up to 3.4%. The softer-than expected print is a sign that the Federal Reserve's historic interest rate hikes are putting pressure on consumers and the economy. Investors...

The International Monetary Fund boosted its 2024 global growth forecast to 3.2%, holding steady with 2023, compared with its previous outlook that expected 2.9% growth this year and 3.0% in 2023. In addition, headline inflation is projected to drop to 2.8% at the end of 2024 then to 2.4% at the end of 2025. "Most indicators continue to point to a soft landing," the IMF said in its April 2024 World Economic Outlook Report. "We also project less economic scarring from the crises of the past four years, although estimates vary across countries." The U.S. economy has overtaken its pre-pandemic...

During an interview with Univision that took place on March 20 and was released on Tuesday, President Joe Biden responded to a question on what he would say to people who don’t feel economic growth or job creation in their paychecks and pockets by stating that “it’s not yet” reflected and touting his work on overdraft and junk fees. Interviewer Enrique Acevedo asked, “I’ve heard you talk about economic growth, job creation. What do you say to the families — not just Latino families — but families across the country, that don’t feel that economic growth, that job creation reflected...

ABC reported that almost all the strong economic growth in the country is happening in the Red states, proving to them that warm weather causes economic growth. At least that is the explanation that they are going with. That, and Democratic mayors in Red states are attracting young liberal workers. So Texas is going gangbusters because people like hot weather and Democrats.No, I am not kidding. They don't even mention that Republicans run the states. They are Red states because Trump won. Republican governors and legislators apparently are irrelevant. Nearly every week, a fresh round of strong economic data elicits...