The US economy has demonstrated robust growth, outstripping earlier forecasts. According to the latest data released by the Department of Commerce on Thursday, the Gross Domestic Product (GDP) surged by an annualized 3.4 percent in the fourth quarter, surpassing previous estimates. Initial figures had pegged the growth at 3.2 percent.
This surge in economic activity marks a continuation from the third quarter's impressive 4.9 percent growth rate, signaling sustained momentum thanks to the spending pump of the Biden administration. Notably, the expansion in the final quarter was broad-based, fueled by buoyant consumer spending and robust business investments.
Government spending can inflate GDP
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Therefore they are spending like drunken sailors
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73 sats \ 1 reply \ @freetx 28 Mar
GDP is a measure of all financial transactions in a period....thus it also winds up just measuring inflation. So its hard to even untangle if it paid off based on just the GDP numbers.
As an aside, imagine two islands: Island 1 has 99 chickens and each sold for $1, Island 2 has 1 chicken and it sold for $100....which is the "richer" nation? (Note: Island 2 has the higher GDP).
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yes exactly right. that's why i also wrote i put that in "that joe biden's debt program works in some form. of course it's all bullshit. What matters most are productivity figures, and that's where things look bad
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0 sats \ 0 replies \ @go 28 Mar
Turns out that people know how to make money and like doing it
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Lol Chicago PMI 41.4, Exp. 46.0, Last 44.0
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