All this robustness, yet the buying power of my $$ is less than it was in January, prices continue to spiral and there’s seemingly no end in sight. 🤷🏻‍♂️

Smoke and mirrors. The average American can point to no improvements in their daily lives. My dollar buys less every day, my wages stagnate, but hey, corporations are using inflation to claim year-over-year growth, so I guess that's good news for shareholders?

The climate is collapsing around us, but yeah, let's focus on the economy.

And it means absolutely nothing as long as voters see their grocery, gas, goods so high.. He needs to confront this problem head on.

Describing something as akin to "blockbuster" makes me think of failure.

I guess I'm old.

The Economist says the pandemic has “broken” people’s perceptions about the economy.

“Although Americans report being worried about their finances, they are behaving as flush as ever—and in economic forecasting, actions speak louder than words. When used to project future spending rather than consumer sentiment, the same battery of economic variables has fully maintained its forecasting power since 2020. In contrast, since Covid began, the correlation between sentiment and both current and future spending has vanished.”

Jonathan Last: “I hear every person who says that times are tough for them and I honor and respect that. But in the aggregate, people’s views are not just a little bit off. They are wildly out of sync with reality

Fuck this economy

I guess a political movement demanding better metrics / KPIs wouldn't be all that sexy, huh.

This is the best summary I could come up with:

The U.S. economy grew by an annual rate of 4.9 percent in the third quarter, the strongest pace since 2021, as spending — by families, businesses and the government — accelerated, even in the face of fast-rising borrowing costs.

New government data released Thursday by the Bureau of Economic Analysis shows that gross domestic product expanded between July and September, capping five straight quarters of growth and eluding a long-feared recession.

The economy’s resilience is a product of a strong job market and extra pandemic savings, which have made it possible for people to keep spending despite inflation and rising interest rates.

Economists say it’s clear that recent investments in infrastructure are paying off: Robust manufacturing construction and government spending drove much of last quarter’s growth, and households have continued to benefit from historic job gains.

U.S. households spent freely in the third quarter, doubling down on necessities, such as housing, utilities and prescription drugs, as well as luxuries including dining out, hotel stays and recreation.

In Cincinnati, Dominique Walker just made her first student loan payment in more than three years — which means she’s rethinking all sorts of other expenses, including manicures, massages and morning coffees.

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