Commentary U.S. debt is blasting toward the debt ceiling it recently raised—just over a month ago—like a SpaceX rocket heading for low earth orbit. Well, that didn’t take long. The fake conservatives in Congress feigned horror as they watched our black hole of an IOU expand over four-fold since the turn of the millennium… more than…
Get Out Your Checkbook: The Government is Sticking You with Its Tab
Signs of Economic Weakness
Commentary Many it seems—the White House but also much of the media and Wall Street—took heart from the Commerce Department’s fourth quarter report on the nation’s gross domestic product (GDP). It seemed to confirm that after the Omicron-burdened summer quarter, the economy had returned to the powerful and broad-based recovery tracked during the year’s first…
Stagflation Talk Grows with Atlantic Fed 1st-Quarter GDP Estimate
U.S. economic growth could be close to flat in the first quarter, the Federal Reserve Bank of Atlanta suggested in its latest model. The Atlanta Fed Bank’s GDPNow estimate on Jan. 28 suggested that real gross domestic product growth could be a minuscule 0.1 percent in the January-to-March period. While it’s not an official forecast…
Stagflation Talk Grows With Atlanta Fed 1st-Quarter GDP Estimate
U.S. economic growth could be close to flat in the first quarter, the Federal Reserve Bank of Atlanta suggested in its latest model. The Atlanta Fed Bank’s GDPNow estimate on Jan. 28 suggested that real gross domestic product (GDP) growth could be a minuscule 0.1 percent in the January-to-March period. While it’s not an official…
Goldman Downgrades US GDP Forecast, Predicts More Downside Risk for S&P 500
Investment banking giant Goldman Sachs has trimmed its forecast for U.S. economic output in 2022, predicting growth will stall early in the year due to fading fiscal support and the impact of Omicron. Goldman has cut its U.S. GDP forecast for all of 2022 to 3.2 percent from a previous projection of 3.8 percent, according…
Morgan Stanley Sees US Debt-to-GDP Ratio Down 7 Percentage Points in 2022
A huge U.S. fiscal deficit from the first two years of COVID-19 spending should decline rapidly to near pre-pandemic levels, largely due to a rebound in economic growth, analysts at Morgan Stanley said on Thursday. In a research note, the investment bank’s economists predicted the debt-to-gross domestic product ratio should decline 7 percentage points in…
GDP Up 6.9 Percent Is Mostly An Artificially Boosted Illusion
Commentary The Bureau of Economic Analysis’s (BEA) advance estimate of Gross Domestic Product for the Fourth Quarter of 2021 (pdf) is 6.9 percent at a Seasonally-Adjusted Annualized Rate (SAAR). The advance estimate is preliminary and will be revised at least twice. BEA Comments “The increase in real GDP primarily reflected increases in private inventory investment,…
US Economy Grew by Forecast-Beating 6.9 Percent in 4th Quarter
America’s economy expanded at an annualized pace of 6.9 percent in the final quarter of 2021, sharply higher than consensus forecasts of 5.5 percent, fueled in part by a buildup of inventories and solid consumer spending. The economic growth figures, released Jan. 27, also show that U.S. gross domestic product (GDP) for the full year…
Taiwan GDP Storms to Decade-High in 2021, Fuelled by Strong Exports
Taiwan’s economy grew at the fastest pace in over a decade last year, driven by strong tech exports during the COVID-19 pandemic to feed the prevailing work-and-study-from-home trend. The full-year gross domestic product (GDP) growth in 2021 surpassed the previous forecast of 6.1 percent up to 6.3 percent, fueled by a 4.9 percent year-on-year rise…
3rd-Quarter GDP Revised Up to 2.3 Percent, Beating Expectations
America’s economy expanded at an annualized pace of 2.3 percent in the third quarter, up 0.2 of a percentage point from earlier preliminary estimates and beating economists’ expectations, according to revised data from the Commerce Department. The updated economic growth figures, released Dec. 22, show that the U.S. economy grew faster in the third quarter than…
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