Another Lefty myth blown to smithereens.
...the Bureau of Economic Analysis released its third and final estimate of second-quarter growth, and the results blew through the doomsday chatter from the left. The economy expanded at a robust annualized rate of 3.8% from April through June, far above the 3.3% forecast and higher than the initial estimate of 3.0%....
But there are some painful areas which will have a longer-term effect:
... Consumer spending, long a key barometer of economic strength, also came in hotter than analysts had anticipated. Services in particular saw a strong revision upward, led by transportation, financial services, and insurance....
That's followed by a quick reference to 'a downward revision in "goods" spending.'
There's a reason for that: the services mentioned are "must haves." Therefore, goods spend is slowed.
One more thing: the fable of "tariff tax" has yet to emerge as reality.
2 comments:
I know plenty of while collar folks who've lost jobs (private sector/not tech) in the last year & still looking. Mostly folks in their 30s & 40s. The only economy that counts is the one where they're working.
Teach em to build trucks!!!
Trump: All Medium-, Heavy-Duty Trucks Entering US Will See 25 Percent Tariff on Nov
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