The headline economic figures for the United States look robust. However, details show concerning weaknesses.
Real GDP growth surged to 4.9 percent in the third quarter, above the consensus estimate of 4.5 percent. However, some analysts, including Bloomberg, expected up to 5 percent growth based on the nowcast estimates.
U.S. unemployment is also low, at 3.8 percent, but real wage growth remains negative, according to the Bureau of Labor Statistics. Between September 2022 and September 2023, the decrease in real average weekly earnings was 0.1 percent. This means that a tight labor market is not improving the real disposable income of workers. In addition, the labor participation rate and employment-to-population ratio remain below pre-pandemic levels. Add rising taxes to inflation, eating away at wage growth, and you can see why things are more complicated than what headlines suggest….
The United States Is Borrowing Its Way to Disguise Recession
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Living Under Democratic Rule
A Survival Guide For Republicans, Conservatives, & Libertarians
Democrats hate the Constitution. They hate individual liberty. They hate freedom. But they didn’t just wake up this morning snarling and twirling their handlebar mustaches, born with an innate desire to be “the bad guys.”
Democrats’ hatred for your liberty has a driving force: the need to control
Living Under Democrat Rule will first take you a little deeper into what makes Democrats such a problem. Then we’ll explain how important it is to your well-being to be smarter than the Democrats.