GDP Reaches 5.2%

[Cheerful Charlie]

Bidenomics seems to be working.

......
The U.S. economy grew at an even stronger pace then previously indicated in the third quarter, the product of better-than-expected business investment and stronger government spending, the Commerce Department reported Wednesday.

Gross domestic product, a measure of all goods and services produced during the three-month period, accelerated at a 5.2% annualized pace, the department’s second estimate showed. The acceleration topped the initial 4.9% reading and was better than the 5% forecast from economists polled by Dow Jones.
....

Jobless rate is low, GDP is high, GOP still wants to slash Social Security, Medicare , and ACA.

U.S. GDP grew at a 5.2% rate in the third quarter, even stronger than first indicated

The acceleration topped the initial 4.9% reading and was better than the 5% Dow Jones forecast.

www.cnbc.com

 

[Gospel]

Until I can walk into the supermarket with a $10.00 bill and exit with two loaves of bread, bacon, eggs, and pocket change, I don't give a $@%!," - Most Americans

 

[Worldtraveller]

Until I can walk into the supermarket with a $10.00 bill and exit with two loaves of bread, bacon, eggs, and pocket change, I don't give a $@%!," - Most Americans

It's not that simple.

If you're a GQPer, or a not a trumpsucker, or even a libertarian, they will happily quote all these economic terms they don't understand because their favorite right wing talk show told them it was good....if the GQp can take credit for it.

If, however, it's due to the 'other side' having good policy, then you're correct.

 

[Gospel]

Yeah yeah whatever nigga, you think President Biden's approval rating is influenced by factors like GDP, unemployment, or inflation? All those indicators are showing stable figures btw. ¯\_(ツ)_/¯

What does the country think of Biden?

Keeping tabs on U.S. President Biden’s approval ratings and American’s top issues

www.reuters.com

 

[Gospel]

Just yesterday, my wife expressed frustration about the high grocery prices, attributing it to inflation and associating it with the Democrats' monetary policies. I pointed out that while the expansion of the money supply during the COVID-19 pandemic has indeed played a role in inflation, it's not the only factor. The Russia-Ukraine conflict, for instance, has significantly impacted energy and food prices through supply disruptions. I also mentioned the measures taken by Biden's administration, like releasing oil reserves to mitigate energy costs, the Inflation Reduction Act aimed at addressing this issue, and efforts to alleviate supply chain challenges and implement agricultural policies. "However, I continued "the full impact of these actions might not be evident until Biden's re-election or potentially under a future administration. In response, she simply showed me the grocery receipt, & said "damned there $500 for a half empty shopping cart". I'm 100% sure I convinced her.

 

[Elixir]

I can usually fill a whole cart for $200.
$500 for a half-empty cart? Y’all gotta lay off the lobster toast.

 

[Jimmy Higgins]

Grocery prices are up, but some people seem to think they are up 100%.

 

[TomC]

I can usually fill a whole cart for $200.
$500 for a half-empty cart? Y’all gotta lay off the lobster toast.

Honestly, this. I bought a nearly full cart a couple of days ago for less than $90.
I don't buy over processed over priced crap. Fresh vegetables and meat, bread, canned goods, cheese, eggs...
I even bought a frozen lasagna for emergencies.

No chips or Cheetos. No ready-to-eat shrimp. I don't have a problem with food prices for real food. I can imagine the prices for stuff self indulgent, people with more money than sense, buy is probably skyrocketing.
No surprise there.
Tom

 

[Gospel]

While she exaggerated , her feelings are generally valid. In my opinion, the cart was indeed full, and it included more than just food items, such as detergents and similar products. However, I must point out that the amount spent typically wouldn't all fit into one cart. My broader point, though, is that many Americans might not immediately recognize improvements in the situation, even when they start to happen.

We usually shop at the Human Crisis Center for essentials, but that particular day she chose to do a full shopping trip at Publix. I don't believe that President Biden is responsible for this decision.

 

[Cheerful Charlie]

Can we mention Greedflation?

 

[TomC]

We usually shop at the Human Crisis Center for essentials,

I'm sure a Tesla appearing in the parking of the Human Crisis Center causes some chagrined smiles.
Tom

 

[Gospel]

We usually shop at the Human Crisis Center for essentials,

I'm sure a Tesla appearing in the parking of the Human Crisis Center causes some chagrined smiles.
Tom

My 2018 Tesla was as affordable as a used 2018 Honda Civic would be today. Your estimate of a 2018 Model 3's cost seems off. Even the newer Tesla models are more reasonably priced than you might assume, contrary to the tone of your post.

Edit: By the way, the individuals I interact with daily are generally more knowledgeable about Tesla's pricing than you appear to be.

 

[RVonse]

Grocery prices are up, but some people seem to think they are up 100%.

Maybe not grocery prices but eating out has gone up 100% where I live when you add in the tip that was not needed in the past.

 

[RVonse]

Bidenomics seems to be working.

......
The U.S. economy grew at an even stronger pace then previously indicated in the third quarter, the product of better-than-expected business investment and stronger government spending, the Commerce Department reported Wednesday.

Gross domestic product, a measure of all goods and services produced during the three-month period, accelerated at a 5.2% annualized pace, the department’s second estimate showed. The acceleration topped the initial 4.9% reading and was better than the 5% forecast from economists polled by Dow Jones.
....

Jobless rate is low, GDP is high, GOP still wants to slash Social Security, Medicare , and ACA.

U.S. GDP grew at a 5.2% rate in the third quarter, even stronger than first indicated

The acceleration topped the initial 4.9% reading and was better than the 5% Dow Jones forecast.

www.cnbc.com

The baby boomer crowd is not buying into any of this.

How do I know? Old shows for boomer audiences include heavy advertising for health,medical, or gold commercials. Even 5 years ago gold bugs were a side show laughed by the general public but it is gotten much more mainstream today. Gold and bit coin are serious investments today.

Whether justified or not, old people have become paranoid and terrified losing their life savings to high inflation. This is obvious just by watching the advertisements. And in a high or hyper inflation environment, none of the standard employment or other stats mean anything because everyone's life will be ruined regardless.

 

[Elixir]

I can imagine the prices for stuff self indulgent, people with more money than sense, buy is probably skyrocketing.

I can also imagine people with less dollars than sense who cannot afford to prepare food or educate themselves about food. If it doesn't come with instructions, it ain't on the menu. And it has probably gone up obscenely.

Also, hay prices... $3-4 for 65# bales, now $12-15. I also bought gallons of unfiltered AC Vinegar (my horse gets ¼-½ cup/day) for $9.95, now it's $22 and change. But things seem to have stabilized for the moment, and if we could just kick Putler's Nazis out of Ukraine a lot of stuff would resolve. But nooo we have to sucker for Hamas, Israel, Venezuela, Guyana, Brazil and who knows who else will soon be screaming with their hair on fire due to Putler's distraction efforts, while Republicans in the House ponder their next move against Hunter Biden, per orders from Trump.

 

[TomC]

justified or not, old people have become paranoid and terrified losing their life savings to high inflation.

I don't see that as hard to explain.
Old people tend to watch more TV from liars. Conservative pundits who lie a lot about the economy because they're funded by wealthy Teaparty elites.
Easy Peasy.
Tom

 

[TV and credit cards]

Can we mention Greedflation?

Katie, Katie, Katie. Why, I learned on this august forum, it's just not that simple. You can't boil this down to a mere chart. That profits rise during times of inflation is purely incidental. It can't be helped. It's the supply chain something something time lags something something word salad something something. You ask too much. What's a poor CEO to do but issue a stock buyback and I'm sorry but corporate bonuses are tied directly to profits. This simply cannot be disentangled overnight.

 

[Jimmy Higgins]

Grocery prices are up, but some people seem to think they are up 100%.

Maybe not grocery prices but eating out has gone up 100% where I live when you add in the tip that was not needed in the past.

No it hasn't. It has gone up, but going out to eat wasn't cheap before the pandemic. People are completely suffering from memory loss.

 

[Elixir]

justified or not, old people have become paranoid and terrified losing their life savings to high inflation.

I don't see that as hard to explain.
Old people tend to watch more TV from liars. Conservative pundits who lie a lot about the economy because they're funded by wealthy Teaparty elites.
Easy Peasy.
Tom

The ability to terrify people is Republicans' ONLY stock in trade. Without caravans, vermin, poisoning of The Blood, weaponized justice department, deranged judges, generals that need to be executed... all that trumpy scaremongering shit - Republicans have NOTHING.
No replacement for Obamacare, no infrastructure week after four years (some under full Republican control), no policies whatsoever other than
STOP THE STEAL, and arrest the BIDEN CRIME FAMILY!
^Per their orders from a mobster.
Fucking pitiful

 

[TomC]

Grocery prices are up, but some people seem to think they are up 100%.

Maybe not grocery prices but eating out has gone up 100% where I live when you add in the tip that was not needed in the past.

You didn't tip?
You went out to eat, but you didn't tip your server?

No wonder you're so irascible and grumpy.
People have been spitting(or worse) in your food for how long?
Tom