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

You did, it's not "self absorbed", just replying to your post as you replied to mine. But in any case ... you read it. This is just more two step shuffle on your part, to avoid more embarrassment.

And I explained I was just trying to be helpful but, you kept "defiantly" attacking because you were wrong.

 

You managed to turn the fact that I'm not reading your crap anymore into self-absorption that's incredible.

 

That's HILARIOUS!

You're "not reading my crap"

But you know it's ... "self-absorption"

Yep! That IS incredible.

Have a nice, "defiant", life.

 

Yes, they are called "Trump voters"

 

So, you bought the carnival barker's speil that you had optical invertitus and everything you see was the reverse of what it appears to be. That's not a healthy condition.

 

Claim; “PCE increased due to higher prices”

Nominal dollars; Yes

Real; Absolutely NOT! Real is an inflation-adjusted measure

FRED’s Real GDP end of June 2023; 22.225 Trillion
FRED’s Real GDP end of Sep 2023; 22.491 Trillion
+ $226 Billion

And mainly/commonly due to consumer spending;

FRED’s Real PCE end of June 2023: 15.376 Trillion
FRED’s Real PCE end of September 2023; 15.536 Trillion
+ $160 billion

——————

Headline; Recession fears dampened by strong consumer spending

Question; How strong?

Answer; Stronger than Trump’s Q3 2017/2018/2019 Real PCE growth rates

Biden’s Q3 2023 Real PCE growth rate; + 1.04%, from 13.376T to 15.536T

Trump’s Q3 2017 Real PCE growth rate; + 0.8%
from 13.256T to 13.364T

Trump’s Q3 2018 Real PCE growth rate; +0.25%, from 13.653T to 13.687T

Trump’s Q3 2019 Real PCE growth rate;
from 13.909T to 14.029T, nearly no growth

__________

IMO, Q3’s PCE was largely boosted by the top 40 percent wage earners, and I don’t think they’ll keep dipping into their savings.

 

Thank you for posting the fact that U.S. consumers had EXTRA SAVINGS prior, prior, prior to Stimulus # 3, and tons of extra savings according to FRED’s Economic Data.

May I have your permission to use your acknowledgment of said Extra Savings to
to ridicule a few MAGAs?

 

Hey- if you can't read the writing on the wall, it won't help to make fun of those that can.

You might ask where those "extra saving" were coming from and remember the covid payments, supplementing everyone with tax dollars borrowed from- the people, running up the national debt.
IT WAS MOSTLY BORROWED MONEY.

Today, people are drawing down life savings to offset inflation. No more freed money in the mail... and Biden wants a huge tax increase.

The conservatives look down the road and prepare for what's coming- and that takes self discipline, but it pays off. The liberals look just at today. That way they can entertain every half-baked nearsighted notion they get, and blame the crashes on the conservatives.

Imagine driving down the highway at 70, but not looking more than 50 to 100 ft ahead. When you do that, everything that happens presents a crisis. On the other hand, if you are looking 500 feet ahead, nothing takes you by surprise, and you are prepared. That's the difference between conservatives and liberals. Conservatives think ahead, liberals just deny all responsibility for the consequences of their spontaneous nonsense.

The picture is a lot bigger than you think it is. Not complicated, but bigger.

 

Dead wrong…



https://www.bea.gov/data/consumer-spending/main

 

Well, that post was certainly a fact-free zone…

 

Here’s my picture;

As of Q4 2019, Personal Saving was at $1.138 Trillion

As of Q4 2021, Personal Saving was at $1.151 Trillion

Thus, logically, the “extra savings” that were amassed during said period were primarily spent prior to end of Q4 2021.

Source; FRED’s Personal Saving

Agree or Disagree?

 

There are many people who can't see facts, it's kind of like color blindness. Don't worry, it's not fatal so long as you know its happening and don't believe the illusions it gives you.

 

Huge spike in 2020-2021, then a fast drop to about half the pre-pandemic level. Didn't look for quarterly results, but that supports your point.

 

Looks like good time to post this The L people and addiction to propaganda and good old carnival barkers slonging bullshit.

https://www.cbsnews.com/miami/news/more-americans-are-working-two-jobs-to-make-ends-meet/

The L people winning the women votes

 

Dow futures surge 300 points as October inflation is less than forecast

https://www.cnbc.com/2023/11/13/stock-market-today-live-updates.html

 

Excluding Stimulus 3, there is no doubt the Fed knew that consumers have amassed approx $1.5 trillion in extra savings, and like you said, mostly government transfers/borrowed money.

Thus, prior to stimulus 3, we already had an inflation time bomb.