Yesterdays economics report: killer results

The US economy continued to expand at a robust pace in the third quarter as household purchases accelerated and the federal government ramped up defense spending. Hiring jumped by the most in more than a year. The numbers are so good that some are saying the magic “soft landing” has been achieved. Inflation-adjusted gross domestic product increased at a 2.8% annualized pace after rising 3% in the previous quarter, according to the government’s initial estimate published Wednesday. Consumer spending, which comprises the largest share of economic activity, advanced 3.7%, the most since early 2023. The uptick was led by broad increases across goods—including autos, household furnishings and recreational items. At the same time, a closely watched measure of underlying inflation rose 2.2%, roughly in line with the Federal Reserve’s target, figures from the Bureau of Economic Analysis showed. “There is almost nothing wrong with this picture,” Carl Weinberg and Rubeela Farooqi, economists at High Frequency Economics, said in a note. “Steady normalization of rates at a moderate pace is what the economy needs, nothing more.” Here’s your markets wrap.
 
There is a school of thought that Trump will be President as the Empire and the nation implode, that it is here and cant be stopped, so the people who caused it are setting things up so that they can blame it all on Trump/MAGA.
 
evince said:
www.bloomberg.com

New Economic Data Moves US Closer to ‘Soft Landing’

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The US economy continued to expand at a robust pace in the third quarter as household purchases accelerated and the federal government ramped up defense spending. Hiring jumped by the most in more than a year. The numbers are so good that some are saying the magic “soft landing” has been achieved. Inflation-adjusted gross domestic product increased at a 2.8% annualized pace after rising 3% in the previous quarter, according to the government’s initial estimate published Wednesday. Consumer spending, which comprises the largest share of economic activity, advanced 3.7%, the most since early 2023. The uptick was led by broad increases across goods—including autos, household furnishings and recreational items. At the same time, a closely watched measure of underlying inflation rose 2.2%, roughly in line with the Federal Reserve’s target, figures from the Bureau of Economic Analysis showed. “There is almost nothing wrong with this picture,” Carl Weinberg and Rubeela Farooqi, economists at High Frequency Economics, said in a note. “Steady normalization of rates at a moderate pace is what the economy needs, nothing more.” Here’s your markets wrap.

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Gee facts just can’t find a way into your brain case huh
 
Gentle reader,

The Republicans keep crashing the economy while in office

The Democrats get elected and fix it


FDR fixed a Republican caused crash

Carter was handed a mess

He worked to clean it up

One term wasn’t enough

Reagan did inherit the good effects of Carters efforts though

Reagan left Bush a economy that was slowing and gave us Enron

Bush was so successful he was one termer

Clinton revived it


Bush lied us into war and then also crashed the economy


Obama revived that economy


Trump did the bidding of the wealthy and took a pass on covid being real

Biden revived the economy and did it so well we kicked the rest of the world in our recovery


This is a pattern

It will continue if you make the wrong choice
 
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