GDP Up in Third Quarter

[ll74]

Higher than expected GDP for the third quarter. Not out of the woods yet, but should improve the pessimistic tone.

https://www.cnbc.com/2022/10/27/us-...r-than-expected-as-growth-turns-positive.html

U.S. GDP accelerated at 2.6% pace in Q3, better than expected as growth turns positive​

 

[icanhelp1]

Higher than expected GDP for the third quarter. Not out of the woods yet, but should improve the pessimistic tone.

https://www.cnbc.com/2022/10/27/us-...r-than-expected-as-growth-turns-positive.html

U.S. GDP accelerated at 2.6% pace in Q3, better than expected as growth turns positive​

One time spike, don’t get carried away, nothing in the real numbers that is predictive of an upward trend.

 

[ll74]

One time spike, don’t get carried away, nothing in the real numbers that is predictive of an upward trend.

What about my post was "carried away"? Was it the mention of the pessimistic tone or suggestion that we're not out of the woods yet?

 

[BabyBoomer50s]

Markets mixed. Dow up a bit, S&P down a bit. Bank of Canada only raised their benchmark 0.5%. The Fed’s next two 0.75% scheduled hikes may end up being one at 0.5% and pause.

 

[LukSkyFokker]

One time spike, don’t get carried away, nothing in the real numbers that is predictive of an upward trend.

How many times did you fail intro economics and comprehension?

 

[KeithD]

Obviously the Trumpers want the United States to fail. They're doing absolutely nothing to help the economy or anything else and they have no plan to show for if they take control again. Rejecting them at the polls should be an obvious move to make.

 

[icanhelp1]

Can’t do any worse then democrats.

 

[ll74]

Can’t do any worse then democrats.

Don't get carried away.

 

[icanhelp1]

Obviously the Trumpers want the United States to fail. They're doing absolutely nothing to help the economy or anything else and they have no plan to show for if they take control again. Rejecting them at the polls should be an obvious move to make.

Hey dipshit! (D)s own the house, senate and the WH. Dems just couldn’t be happy with an infrastructure bill, had to push for more spending and lost any possibility for pub support going forward.

 

[icanhelp1]

Don't get carried away.

Large tech companies are contracting and they draw the line right to the WH and Bidenomics. Stock values for stocks like Apple and Amazon are dropping could be an indicator of future GDP numbers.

 

[ll74]

Large tech companies are contracting and they draw the line right to the WH and Bidenomics. Stock values for stocks like Apple and Amazon are dropping could be an indicator of future GDP numbers.

Don't get carried away!.

 

[adrina]

Obviously the Trumpers want the United States to fail. They're doing absolutely nothing to help the economy or anything else and they have no plan to show for if they take control again. Rejecting them at the polls should be an obvious move to make.

And yet somehow they label everyone else as unpatriotic America haters hellbent on destroying the country. They actually believe they are being patriotic by hating liberals, democrats etc - anyone who doesn't think like them. The brainwashing is extensive.

 

[Fuzzy1975]

Large tech companies are contracting and they draw the line right to the WH and Bidenomics. Stock values for stocks like Apple and Amazon are dropping could be an indicator of future GDP numbers.

There was a time when Westinghouse and Consolidated Edision were the most valuable stocks in the market, then in the 1950's GEICO lead the way. We could look at the rest of the decades, but why, since you will only note two things; first the "valuable companies" change, some drop right off,others find a spot and kind of stay there. Second, the total value of the stock market has increased every single decade.

So the only indicator I can use to predict the future of the stock market on is, it's history. One of constant value increase. Not on how individual companies perform.

BTW GDP is not the same as individual companies share values....just pointing out another flaw in your understanding of economics....*chuckles*

 

[JohnEBbad]

Yes. You are right, of course, no one can deny the uptick. We'll give you that (cheap) political point.

~~ BUT ~~

There is also an economic point to be made:

"These numbers come after two quarters of shrinking GDP. The top-line growth rate was clouded by declining consumer spending on goods, falling investment in new single-family housing construction, and a declining savings rate.

"Inflation and rising interest rates continue to act as headwinds on the economy. That all has made analysts pretty glum about the new numbers.

"'Ignore the headline number—growth rates are slowing,' said Michael Gapen, chief U.S. economist for Bank of America, to The New York Times. 'It wouldn't take much further slowing from here to tip the economy into a recession.'"

https://reason.com/2022/10/27/latest-gdp-numbers-arent-calming-recession-fears/



In short, by way of analogy, if your village needs 100 fish a week not to starve and for months upon months you only get 20 fish a week, then there is going to be no feast and celebration when your fishermen return with 25 fish for the week.

 

[JohnEBbad]

As for any election impact, my analysis is too little too late.

People are still buying food and filling their gas tanks every week.

 

[YDB95]

People are still buying food and filling their gas tanks every week.

And they're able to do so.

 

[JohnEBbad]

Not in all cases. In many households, which you are so dismissive of, hard choices are being made.

 

[ll74]

Yes. You are right, of course, no one can deny the uptick. We'll give you that (cheap) political point.

~~ BUT ~~

There is also an economic point to be made:

"These numbers come after two quarters of shrinking GDP. The top-line growth rate was clouded by declining consumer spending on goods, falling investment in new single-family housing construction, and a declining savings rate.

"Inflation and rising interest rates continue to act as headwinds on the economy. That all has made analysts pretty glum about the new numbers.

"'Ignore the headline number—growth rates are slowing,' said Michael Gapen, chief U.S. economist for Bank of America, to The New York Times. 'It wouldn't take much further slowing from here to tip the economy into a recession.'"

https://reason.com/2022/10/27/latest-gdp-numbers-arent-calming-recession-fears/



In short, by way of analogy, if your village needs 100 fish a week not to starve and for months upon months you only get 20 fish a week, then there is going to be no feast and celebration when your fishermen return with 25 fish for the week.

Facts aren't political.

I never denied inflation is still high nor have I proclaimed that we are suddenly out of tough economic times.

In fact, you're the one who seems to wants to make the political point . Are you rooting for bad shit to continue?

 

[JohnEBbad]

Yeah. I'm sure you started this thread not for political reasons, but because you are an economics nerd...

 

[ll74]

Yeah. I'm sure you started this thread not for political reasons, but because you are an economics nerd...

Poor guy. Blaming me for posting good news....it's rough.

 

[JohnEBbad]

Blame?

You are one of the more egocentric posters.

I even agreed that it was positive news, or can you not read either...

 

[ll74]

Blame?

You are one of the more egocentric posters.

I even agreed that it was positive news, or can you not read either...

Got it.

So why do you care that posting positive news?

 

[JohnEBbad]

Buddha says: A false positive is only good on a pregnancy test.

I commented. I take it that the comment was not positive enough for you, but look, be patient,
it takes the Leftist crew a bit longer to get out of the bed in the morning...

You'll get your pats on the back, lockstep agreement and positive affirmation before the morning is over and then you can have that Left-wing love fest over how great Biden art.

I'll reiterate: Too Little, Too Late (and not noticed by the consumer because it doesn't cause a general deflation).

 

[ll74]

Buddha says: A false positive is only good on a pregnancy test.

I commented. I take it that the comment was not positive enough for you, but look, be patient,
it takes the Leftist crew a bit longer to get out of the bed in the morning...

You'll get your pats on the back, lockstep agreement and positive affirmation before the morning is over and then you can have that Left-wing love fest over how great Biden art.

I'll reiterate: Too Little, Too Late (and not noticed by the consumer because it doesn't cause a general deflation).

Got it...so your issue is that you want to make more political statements

Good job

 

[JohnEBbad]

This isn't the GB. Got it?