U.S. GDP grew at a 4.9% annual pace in the third quarter, better than expected

Discussion in 'Current Events' started by Arkanis, Oct 26, 2023.

  1. spiritgide

    spiritgide Well-Known Member Past Donor

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    I'm not going to go back to research- I'm just going to note that a comfortable lie is easier to sell than a less comfortable truth.
    Reality is knowing where you are, so you can accurately measure progress and plan correctly.

    Bullshit destroys both, takes you down the rabbit hole. Which is, exactly where things have gone and are going under Biden.
     
  2. Quantum Nerd

    Quantum Nerd Well-Known Member

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    How many times does it have to be said: It's REAL GDP growth, that means it already ACCOUNTS for INFLATION, i.e. rising prices DO NOT cause this 4.9% GDP growth number.

    Of course, I realize that it is much more convenient for your political ideology to find all kind of ratonalizations as to why 4.9% GDP growth is really bad, when savior Trump could never even achieve this before covid (and before anyone sass this, no, I don't think the 4.9% GDP growth is thanks to Biden).

    BTW: Where is the thread about silly Republican voters who cannot get past peddling doom and gloom every day, just because propaganda has convinced them that the economy HAS to be bad when it's not a GOP president in office.
     
    Last edited: Oct 27, 2023
  3. balancing act

    balancing act Well-Known Member

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    Your post sounds reasonable and would be believable until I remember you think Trump was an economic genius.
    Your opinion is heavily weighted by your politics, and then you accuse others of that same thing, which makes the post you wrote pretty much meaningless.
     
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  4. balancing act

    balancing act Well-Known Member

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    Agree 100%. That is why I strive to be moderate, leaning towards progressive. Without progression, our society becomes stagnant, and it's not good. We should all aspire towards MODERATE progression. It's only natural.
     
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  5. 19Crib

    19Crib Well-Known Member Past Donor

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    https://ycharts.com/indicators/us_inflation_rate
    Dude, that is like calling the bright and sunny eye of a hurricane "a nice day". You number is a snapshot in time.
    Inflation is lower this quarter because people are buying less and buying cheaper options. Housing is stalled, thus stalling the home furnishing business.
    I find a lunch for two in an ordinary Mexican joint of $30 & 2 soft drinks to be a symptom of inflation. Before it was ~ $20, with 2 soft drinks.
    In your defense it is tapering off, but it will not go backwards. That cake is baked.
     
  6. balancing act

    balancing act Well-Known Member

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    I like your hurricane analogy!
    I live in an area that gets at least one hurricane come through each year. It blows through, does damage and then is gone (sometimes more quickly than other times), so it is sort of like fluctuations in the economy.
    Know what though? Quite often the rain it brings, although sometimes too much causing flooding, helps the region overall (Georgia gets some 60% of it's rainfall from hurricanes each year) and usually the weather is beautiful afterwards!
    Inflation is no fun, but also a necessary part of life if you want the average Joe to improve their economic standing.
     
  7. mdrobster

    mdrobster Well-Known Member

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    So you just don't want to talk about it, basically braying and bleating about petty politics, where all one can do is insult the other side.
     
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  8. fullmetaljack

    fullmetaljack Well-Known Member

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    LMAO

    Ok, we get it. Democrat bad, Republican good.

    :cheerleader:
     
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  9. FreshAir

    FreshAir Well-Known Member Past Donor

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    want to pay down the huge debt, rising wages and inflation are necessary, just the reality of it
     
  10. 19Crib

    19Crib Well-Known Member Past Donor

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    True. A jolt like this takes about seven to eight years to stabilize. What will prices be then?
    I bought my last house in 2002 for ~ $190k. It is now worth ~ $550k. That is ~ $360k in pure inflation.
     
  11. Vernan89188

    Vernan89188 Well-Known Member

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    Maybe the same people buying all these properties, and renting for 4k+ a month for 1 and 2 bedrooms with a back log of applicants.
     
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  12. sec

    sec Well-Known Member

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    nope

    your point is all things Democrat are wonderful

    My point is Democrat policies hurt the regular folk and all of DC, allow me to again spell that, a l l of DC is broken.
     
  13. fullmetaljack

    fullmetaljack Well-Known Member

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    Really ? Quote me.

    Oh, I see, you're just going with "Democrat bad".
    Too bad you can't back that up and ignore "Republican worse".
     
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  14. sec

    sec Well-Known Member

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    all of DC is broken. That includes your Democrat party as well as the Republican party. What part of that do you not understand?
     
  15. fullmetaljack

    fullmetaljack Well-Known Member

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    Let me know when you have a solution in place. Meanwhile, I'll stick with my less-broken Democrat party.
     
  16. JohnHamilton

    JohnHamilton Well-Known Member

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    The unexpected GDP results have not fixed inflation problem. They have probably help keep the stock market from crashing. That makes it a mixed bag for me.
     
  17. grapeape

    grapeape Well-Known Member Past Donor

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  18. AKS

    AKS Banned

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    Great. But you can't deny prices are higher and wages haven't come close to compensating. That means people are worse off - either spiraling into debt, burning through savings, or cutting back on items and services or some combination of these. This is not good. Seems to me that cheering for the economy right now, especially by an intelligent person, is (to say the least) disingenuous.
     
  19. Quantum Nerd

    Quantum Nerd Well-Known Member

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    That was true for 21-22. However, since early 23, wage growth has outpaced inflation. Maybe that's why inflation is so stubborn, and so difficult to get significantly below 4%.

    upload_2023-10-27_12-27-2.png

    BTW: I am not cheerleading any economic data here. I am well aware that high GDP growth doesn't directly correlate with prosperity for all. In fact, the gains from higher productivity have gone mostly to the top earners -- since many decades, under both GOP and Dem leadership. How to fix this? I don't know.
     
  20. mdrobster

    mdrobster Well-Known Member

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    Gas prices are high, but certainly not overwhelming, so that counts but not so much. End user items have skyrocketed, at first gas prices were to blame, then supply lines, etc.,, now that those issues are not a show stopper, none of the end user suppliers have lowered prices.

    https://thehill.com/business/375645...in-third-quarter-amid-40-year-high-inflation/
     
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  21. spiritgide

    spiritgide Well-Known Member Past Donor

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    Unfortunately, the real-world experiences we all live with every day say everything we hear from Biden is BULLSHIT. Nothing they tell you is reliable, and you would be foolish to believe otherwise. I wonder how deep the pile of lies will have to get before the deniers have had enough.

    Truth is not political- and politics only use truth when it pays off and presents no risks. The final score is the result on the street, not in what they tell you. Today- our economy is in shambles. Saying otherwise is just kicking the can down the road to pretend it's not happening, while the problems get worse. It's denial of truth, of responsibility, of the need to have a plan and take action to fix the situation- and the ability to continue the illusion that you are some kind of god, can do no wrong and people are there to serve you. Instead, they feed you comforting lies.

    Reality and perception are only the same to a small number of people, who can think for themselves, who can observe, reason and analyze without bias and obsession.
    I've been a business owner 53 years, founded 9 companies, still a CEO of two corporations, and president of a consultation service that teaches self-management skills for both personal and business. I can teach people- How to find jobs. How to get better ones. How to make money. How to read people before you enter commitments or deals. How to find themselves, and develop true self-esteem. How to be a great partner and find great partners, and build great relationships. Learning what works is easy and free, but until a person can clear the garbage in their thinking, they have no room for it.

    The proof is in the result. If you can learn it and live it, you have what it takes and will win. If you can't, you won't- and faking it only postpones the inevitable crash. The hard part is throwing out the trash in programming that corrupts your thinking. I know this is possible for everyone, and I know that the majority will never be willing to take advantage it.

    You cannot teach people who refuse to learn, and you can't change minds who refuse to let go of the misconceptions that keep them stuck where they are.
    Sadly, most of those who want and could have these things are like that. They tell themselves lies because they aren't ready to deal with truth, and perhaps never will be.

    The state of our politics is closely connected with this inability to function effectively, to see what's real, to do what's needed. Deny it, pretend you don't see the growing crisis, and double down on the illusions of things being OK. The longer you buy it, the harder the crash will be.
     
  22. Quantum Nerd

    Quantum Nerd Well-Known Member

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    So, you are saying that the GDP growth is actually NOT 4.9% real? What is it, then, in your "opinion"? I guess if government is reporting all fake numbers, that also made Trump's numbers all fake? Oh, wait, I bet you think those were actually under-reported.

    Isn't it convenient: You don't like economic numbers, so you call them all fake. No critical thinking required. Trump has trained you well.
     
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  23. Pants

    Pants Well-Known Member

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    You bring up a great point - the fact that groceries remain at pandemic, supply shortage prices. We're all seeing that. So my question is what do we do about it? We know that grocery stores are now seeing great profits with the maintaining of the pricing, so should our government get involved? Force grocery store chains to lower the prices back to pre pandemic levels? I see it as a big problem for consumers as well, but I can't imagine grocery store chains seeing the money rolling in and choosing to change that.
     
  24. omni

    omni Well-Known Member

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    Nope.

    Any increases under a (R) president is due to policy.

    Any increases under (D) president are in spite of policies.

    That is what they have been taught.
     
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  25. mudman

    mudman Well-Known Member

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