Where Has All The GDP Gone? US Q3 Real GDP Revised Upwards To 5.2%! But Real Hourly Earnings Only 0.6% YoY (Home Prices Hit All-time High)

#bubble, #inflation, Bank of Japan, Banking, CMBS, CRE, Credit, ECB, Economy, Fed, GDP, Gold, Housing, Inflation, Mortgage, Natural Gas, New Home Sales, Oil, Powell, REITs, Silver, SPX, Stocks, Treasuries, Treasury, TYVIX, Uncategorized, Wages, Yellen, Yield Curve 1 Minute

Where has all the GDP gone? Not to wages.

As expected, Q3 Real GDP was revised upwards to 5.2% annualized. Of course, this shatters JKP’s talking points that Biden inherited a train wreck of an economy from Trump. Q3 2020 Real GDP grew at over 30%.

And on a year-over-year (YoY) basis, US real GDP grew at 3.0% in Q3. Unfortunately, real hourly compensation grew at a measly 0.6% YoY.

Meanwhile, home prices have hit an all-time high. Too bad real wages are so low.

Why is growth so strong? One factor has been government spending which grew an unsustainably 4.7% in real terms over the last year. Outside the pandemic, this is one of the fastest rates in decades and works at a cross purpose with monetary policy objectives.

Published by confoundedinterest17

Published

One thought on “Where Has All The GDP Gone? US Q3 Real GDP Revised Upwards To 5.2%! But Real Hourly Earnings Only 0.6% YoY (Home Prices Hit All-time High)”

  1. Pingback: Why Is US GDP Growth So Strong? Bidenomics Is About BIG Government Spending (+4.7%), Not Consumer Spending (Highway To Hell!) – Confounded Interest – Anthony B. Sanders

Comments are closed.