THE ICING ON THE ECONOMY CAKE

The latest economic news/last news before the midterm elections has just been released.

From Fred Imbert’s article for cnbc.com, here are its key points:

  • Gross domestic product expanded by a 3.5 percent annual rate. Economists polled by Dow Jones expected the economy to expand by a 3.4 percent annual rate.
  • The department said the PCE price index, a key measure of inflation, increased by 1.6 percent last quarter, much less than the 2.2 percent increase expected by economists polled by StreetAccount.
  • Consumer spending, which accounts for more than two thirds of U.S. economic activity, grew by 4 percent in the third quarter, the strongest since the fourth quarter of 2014.

Are you impressed? I sure am.

And, just to be clear, the release of this information has not been timed to make Trump and his fellow Republicans look good – make that great – on the eve of the elections.  This is when it would have come out under any circumstances.

The above information, of course, will only have an impact if voters consider the state of the economy to be a major issue when they cast their ballots.

I’d give you three guesses as to whether they do…but I won’t bother, on the grounds that I’d expect to get the same answer for each guess.

I now await the Democrat response – which, I assume, will be either that this is bad news, or that, yeah, it’s good news, but it’s Barack Obama’s fault, not Donald Trump’s.

Please let me know which one makes you laugh harder.

2 Comments

  • a key measure of inflation, increased by 1.6 percent last quarter, much less than the 2.2 percent increase expected by economists

    The federal reserve uses inflation as a reason to raise interest rates. They raised the rates again [7th time]. They were wrong again. Oh well, it only cost the stock market a few thousand points and who knows how much it cost the economy in total.

  • President Trump Continues to Reduce US Debt to GDP – Something Obama Increased by 40%!!

    It’s clear the amount of debt is decreasing compared to GDP. Obama increased this ratio by 40% while President Trump is decreasing this ratio. What’s not clear is whether the Fed will stop increasing rates long enough to allow President Trump’s economy to continue to reduce the debt to GDP ratio and eventually the massive US debt.

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