Featured U.S. Economy Roars Back, Grew 2.9% in Third Quarter

US GDP Grows 2.9% In Third Quarter - We're Measuring GDP Wrongly

The latest Gross Domestic Product figures for the United States are out and we’re seeing that in the latest, third, quarter the economy grew at 2.9%. This could be described as “roaring back” as some have put it, could be described as pretty mediocre growth after a recession of the depth that we’ve had. As, actually, the same people who said roaring also described it. We should also note that this is an early figure, very subject to revision and revision in either direction in the future. Some part of this is numbers actually known and added up, other parts are simply projections and estimates. Thus the potential for later revisions.

Myself I take this as a confirmation of a long standing suggestion of mine–we’ve a problem in our methods of estimating GDP. More specifically, we’ve got something wrong in our methods of making seasonal adjustments. Please do note this is a suggestion, not an ex cathedra announcement. It’s also not a major problem and I’m not trying to suggest the sort of fixing or fraud that some try to insist upon about unemployment numbers. Rather, we’ve a technical problem here which we’d like to fix, assuming, of course, that I’m right in the first place.

http://www.forbes.com/sites/timwors...rter-were-measuring-gdp-wrongly/#1b9a171e108c

 

So, Rev. quotes an opinion piece. Heaven knows we can always find vast differences of opinion with economists.

I'd rather see it at 2.9% then at 0% or negative.

 

Yes but now you will have Hillary as POTUS...She will fix everything

 

However, it is the fastest it has grown in the last two years.

 

Yep. Thanks to the economic knucklehead named Obama.


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At least it is growing and not collapsing as it was under Bush.

 

Every quarter the reports have had to be given again because they were wrong the first time. Every quarter the initial reports makes it look bigger and better than the actual revised reports. The likelihood that it will again occur for this report is very likely and the reality will be worse.

 

Id say the term "Ignoramus" is more descriptive than knucklehead.

Cheer up though .... soon you can choose between a Nut or a Crook. Pick your poison.

 

Ok that is irrelevant to what I said. the recent history is they always go down.

 

Ignoramus is good. So is economically illiterate. Ideologically driven economics is his game and it always fails.

 

U.S. Economy Roars Back, Grew 2.9% in Third Quarter

How come then Social Security recipients are only receiving a three-tenths of one percent 2017 Cost of Living Adjustment (based upon 2016 economics)?

Why can't they have a Roaring increase?

https://www.ssa.gov/news/cola/

HankD

 

"Rigged" Statistics

HankD