5.2% GDP in 3rd Q

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Opalka
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9:42a, 11/29/23
AG
Well doesn't that just suck...the GDP grew at a rate of 5.2% in the 3rd quarter. Yes, it's not going to stay that way, but still EXCELLENT news. Christmas spending is in full swing this quarter, and reports have been very good there also.

https://www.marketwatch.com/story/gdp-in-the-third-quarter-raised-to-5-2-rate-of-growth-21abd484?mod=home-page

Oh, and the current inflation rate is only 3.2%.
O&G prices are down...I've seen gas prices at less than $3 per gallon lately.
My 401K is up 17% this year so far.

Man, that's gotta be a downer for some of you Eeyore types.that are always pessimistic.
HAPPY HOLIDAYS anyway!!
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MouthBQ98
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9:43a, 11/29/23
AG
I need to see how that number was derived because again, the public isn't perceiving that growth.

It sure seems like there is a disconnect between inflation metrics and growth metrics that is causing most people to perceive they are not making any headway.
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agdoc2001
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9:43a, 11/29/23
AG
Revised numbers coming in 3.....2......1.......
No material on this site is intended to be a substitute for professional medical advice, diagnosis or treatment. See full Medical Disclaimer.
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samurai_science
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9:43a, 11/29/23
LOL


Sure it did
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Philip J Fry
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In reply to MouthBQ98 • 9:43a, 11/29/23
AG
MouthBQ98 said:
I need to see how that number was derived because again, the public isn't perceiving that growth.


Government spending.
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AgGrad99
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9:43a, 11/29/23
AG
im curious about these numbers.

I work in the industry that moves product, and numbers have been down, and in a bit of a decline. It's something I watch closely, because it's typically an indicator.

I wonder if this is one of those reported numbers that gets revised down in 2 months.
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samurai_science
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In reply to Opalka • 9:43a, 11/29/23
Opalka said:
Well doesn't that just suck...the GDP grew at a rate of 5.2% in the 3rd quarter. Yes, it's not going to stay that way, but still EXCELLENT news. Christmas spending is in full swing this quarter, and reports have been very good there also.

https://www.marketwatch.com/story/gdp-in-the-third-quarter-raised-to-5-2-rate-of-growth-21abd484?mod=home-page

Oh, and the current inflation rate is only 3.2%.
O&G prices are down...I've seen gas prices at less than $3 per gallon lately.
My 401K is up 17% this year so far.

Man, that's gotta be a downer for some of you Eeyore types.that are always pessimistic.
HAPPY HOLIDAYS anyway!!
Will you start a thread in 6 months when its revised down?
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Teslag
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In reply to MouthBQ98 • 9:44a, 11/29/23
AG
MouthBQ98 said:
I need to see how that number was derived because again, the public isn't perceiving that growth.

I guess it depends where you live. In North Texas I still see people spending, tons of job offers with no one to fill them, and no one really suffering all that much when I talk to them.
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samurai_science
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In reply to Opalka • 9:44a, 11/29/23
Opalka said:
Well doesn't that just suck...the GDP grew at a rate of 5.2% in the 3rd quarter. Yes, it's not going to stay that way, but still EXCELLENT news. Christmas spending is in full swing this quarter, and reports have been very good there also.

https://www.marketwatch.com/story/gdp-in-the-third-quarter-raised-to-5-2-rate-of-growth-21abd484?mod=home-page

Oh, and the current inflation rate is only 3.2%.
O&G prices are down...I've seen gas prices at less than $3 per gallon lately.
My 401K is up 17% this year so far.

Man, that's gotta be a downer for some of you Eeyore types.that are always pessimistic.
HAPPY HOLIDAYS anyway!!
Also, credit card debt is at an all time record, so I guess that Christmas spending is a good thing. LOL
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Phatbob
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9:45a, 11/29/23
AG
Meanwhile, in reality.....
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waco_aggie05
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9:46a, 11/29/23
AG
8-10% inflation and GDP is 5.2%? So reality is negative growth.

Also, what were the gas prices 4 years ago? Oh yeah.

Gaslighting at its finest.
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samurai_science
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In reply to waco_aggie05 • 9:46a, 11/29/23
waco_aggie05 said:
8-10% inflation and GDP is 5.2%? So reality is negative growth.

Also, what were the gas prices 4 years ago? Oh yeah.

Gaslighting at its finest.
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Tea Party
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In reply to Opalka • 9:47a, 11/29/23
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Some Junkie Cosmonaut
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In reply to Opalka • 9:48a, 11/29/23
AG
Opalka said:
Well doesn't that just suck...the GDP grew at a rate of 5.2% in the 3rd quarter. Yes, it's not going to stay that way, but still EXCELLENT news. Christmas spending is in full swing this quarter, and reports have been very good there also.

https://www.marketwatch.com/story/gdp-in-the-third-quarter-raised-to-5-2-rate-of-growth-21abd484?mod=home-page

Oh, and the current inflation rate is only 3.2%.
O&G prices are down...I've seen gas prices at less than $3 per gallon lately.
My 401K is up 17% this year so far.

Man, that's gotta be a downer for some of you Eeyore types.that are always pessimistic.
HAPPY HOLIDAYS anyway!!



This is a dummy test. Guess who just failed…
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Logos Stick
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9:48a, 11/29/23
OP, do you know that GDP contains government spending?

Joe's deficit this year is almost $2 trillion dollars. That's a record high in a normal year, ie no pandemic.

If the government borrows and spends an extra $2 trillion each years, GDP will look good.

But it's fake.

3.2% inflation is 60% higher than normal inflation and you are happy. LMAO
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Rapier108
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In reply to Logos Stick • 9:51a, 11/29/23
Logos Stick said:
OP, do you know that GDP contains government spending?

Joe's deficit this year is almost $2 trillion dollars. That's a record high in a normal year, ie no pandemic.

If the government borrows and spends an extra $2 trillion each years, GDP will look good.

But it's fake.

3.2% inflation is 60% higher than normal inflation and you are happy. LMAO
The OP doesn't care.

He just wants to spike the football, thinking his team just scored a great victory. It is all he ever does.
"If you will not fight for right when you can easily win without blood shed; if you will not fight when your victory is sure and not too costly; you may come to the moment when you will have to fight with all the odds against you and only a precarious chance of survival. There may even be a worse case. You may have to fight when there is no hope of victory, because it is better to perish than to live as slaves." - Sir Winston Churchill
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P.H. Dexippus
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In reply to Logos Stick • 9:54a, 11/29/23
AG
Logos Stick said:
The reported 3.2% inflation is 60% higher than normal inflation and you are happy. LMAO
FIFY
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Ellis Wyatt
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In reply to Opalka • 9:54a, 11/29/23
Opalka said:
Well doesn't that just suck...the GDP grew at a rate of 5.2% in the 3rd quarter.

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It Aint Easy Being Brown
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9:56a, 11/29/23
How many times have the quarterly numbers been reported correctly since Biden seized power?
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samurai_science
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In reply to Logos Stick • 9:59a, 11/29/23
Logos Stick said:
OP, do you know that GDP contains government spending?

Joe's deficit this year is almost $2 trillion dollars. That's a record high in a normal year, ie no pandemic.

If the government borrows and spends an extra $2 trillion each years, GDP will look good.

But it's fake.

3.2% inflation is 60% higher than normal inflation and you are happy. LMAO
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sleepybeagle
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10:00a, 11/29/23
AG
hmm... I went to CEFCO and my $1.07 soda refill with crunchy ice was just increased to $1.74
That's a 63% increase.

The price of EVERYTHING is up.
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johnnyblaze36
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In reply to Opalka • 10:03a, 11/29/23
AG

[You can make your point without attacking others -- Staff]
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Fenrir
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10:03a, 11/29/23
2nd quarter revisions

Quote:
Wages and salaries are now estimated to have increased $167.8 billion in the second quarter, a downward revision of $16.5 billion.

With the incorporation of these new data, real gross domestic income is now estimated to have increased 0.5 percent in the second quarter, a downward revision of 0.2 percentage point from the previously published estimate.
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Detmersdislocatedshoulder
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In reply to Opalka • 10:05a, 11/29/23
Opalka said:
Well doesn't that just suck...the GDP grew at a rate of 5.2% in the 3rd quarter. Yes, it's not going to stay that way, but still EXCELLENT news. Christmas spending is in full swing this quarter, and reports have been very good there also.

https://www.marketwatch.com/story/gdp-in-the-third-quarter-raised-to-5-2-rate-of-growth-21abd484?mod=home-page

Oh, and the current inflation rate is only 3.2%.
O&G prices are down...I've seen gas prices at less than $3 per gallon lately.
My 401K is up 17% this year so far.

Man, that's gotta be a downer for some of you Eeyore types.that are always pessimistic.
HAPPY HOLIDAYS anyway!!


on top of that there are these safe and free covid vaccine boosters that are now available. you should definitely go get your next booster. govt says their totally safe.
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AggieUSMC
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In reply to MouthBQ98 • 10:09a, 11/29/23
AG
MouthBQ98 said:
I need to see how that number was derived because again, the public isn't perceiving that growth.

It sure seems like there is a disconnect between inflation metrics and growth metrics that is causing most people to perceive they are not making any headway.
This.

You can post the rosiest numbers in the world but nobody cares about a high GDP number when they're struggling to pay their rent and grocery bill. I think it's because the US savings rate is roughly half of what it was before the Pandemic. More and more people are living paycheck to paycheck.
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Some Junkie Cosmonaut
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In reply to AggieUSMC • 10:12a, 11/29/23
AG
AggieUSMC said:
MouthBQ98 said:
I need to see how that number was derived because again, the public isn't perceiving that growth.

It sure seems like there is a disconnect between inflation metrics and growth metrics that is causing most people to perceive they are not making any headway.
This.

You can post the rosiest numbers in the world but nobody cares about a high GDP number when they're struggling to pay their rent and grocery bill. I think it's because the US savings rate is roughly half of what it was before the Pandemic. More and more people are living paycheck to paycheck.


Which makes the OP's efforts a particularly special kind of evil.
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jt2hunt
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10:14a, 11/29/23
AG
Bizarro world the op is living in!
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P.H. Dexippus
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In reply to AggieUSMC • 10:14a, 11/29/23
AG
AggieUSMC said:
MouthBQ98 said:
I need to see how that number was derived because again, the public isn't perceiving that growth.

It sure seems like there is a disconnect between inflation metrics and growth metrics that is causing most people to perceive they are not making any headway.
This.

You can post the rosiest numbers in the world but nobody cares about a high GDP number when they're struggling to pay their rent and grocery bill. I think it's because the US savings rate is roughly half of what it was before the Pandemic. More and more people are living paycheck to paycheck.
As incentivized by the government. Saving is for suckers when the fed's printer is working overtime and fed gov. spending is off the charts. Buying a pickup truck was a better "investment" than a savings bond since COVID.
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Sims
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10:16a, 11/29/23
AG
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StandUpforAmerica
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10:17a, 11/29/23
That's great if the number is accurate. This is what most folks are seeing.

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AgBQ-00
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10:19a, 11/29/23
AG
Cargo tonnage is way down year over year. Slight uptick month to month but not a good trajectory
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Sims
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10:19a, 11/29/23
AG
Maybe centrally planned, debt funded, inflation producing, socialist economy is the way forward after all!

You know, if the government spent $50 trillion next year, GDP would kick ass!
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Funky Winkerbean
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10:20a, 11/29/23
AG
When you infuse the economy with trillions in new money, it has to expand (inflate) the economy. This type of "growth " just increases the misery index proportionally. Just talk to the people feeling it.
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rocky the dog
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10:20a, 11/29/23
AG
Elections are when people find out what politicians stand for, and politicians find out what people will fall for.
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Finn
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10:20a, 11/29/23
AG
OP,
Ask yourself this, "If the fed is rising the rate to kill off inflation/economy, how is it good for USA/inflation if the gdp is still growing?"
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