What you need to know about America’s shockingly good economic report
What you need to know about America’s shockingly good economic report
www.cnn.com
What you need to know about America’s shockingly good economic report | CNN Business
24 comments
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Just let me know when the economy is hiring Sr. devs and team leads. I'm happy for the economy, and I'm happy for everyone benefitting from it. But shit is looking dark for some.
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Give it a few years, the system created too many and now we’re seeing a correction to the proper number of positions. As the unemployed retrain to needed skill sets the job market will return to a healthy level.
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Have you looked into the European job market? From what little I know, I have the impression here that kind of profile can pick among any number of jobs.
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I’d like for someone to let me know when bench techs are needed, cuz I’m dyin’ out here.
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TL;DR: The US economy showed strong growth with a 2.8% annualized GDP rate in Q2, doubling from earlier this year and exceeding expectations. Consumer spending, which drives 70% of the economy, rose sharply. Inflation also slowed, providing hope for a potential "soft landing" where inflation is controlled without a recession. Business investment increased significantly, particularly in equipment, though spending on structures declined due to high interest rates. Overall, the economic outlook is positive with signs of robust growth and cooling inflation.
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Consumer spending, which drives 70% of the economy, rose sharply.
That's not the win it seems if the amount of items bought didn't increase. It's just things costing more.
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The US economy just got its latest health check, and it looks promising.
Well, how nice for the economy.
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More of this GDP growth is captured by the 1% every year. We need progressive policies to reduce inequality before the wealth gap bubble collapses.
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It's pretty easy to pump up the official GDP Growth number by understating Inflation since the former is mathematically reduced by the latter.
You might have noticed frequent news (and people complaining) about the prices of things having gone up A LOT in the US and yet official Inflation figures are quite subdued.
Then on top of that, it's an Election Year and the political pressure to massage then numbers to make them look good is likely higher than normal (plus they can always be corrected later, after the election).
The US might not practice China-level Economic-figures Massaging, but they've definitely been a lot more Fantastic and Fabulous (in that they have a lot more Fantasy and Fable to them) since the mad scramble to look good (or at least not as bad) after the 2008 Crash.
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Just saw a post showing a Walmart order from 2020 was like $80 and now is over $400. It's easy to make the economy look good when the price for everything has gone up
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wait is this unironic?
24 comments
Poor dude in the photo with the butt sweat.
What’s a little shart on CNN? No one reads that, I’m sure.