American Economics Thread


56860

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US almost certain to contract this year.

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The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the third quarter of 2022 is 0.3 percent on September 20, down from 0.5 percent on September 15. After this morning's housing starts report from the US Census Bureau, the nowcast of third-quarter residential investment growth decreased from -20.8 percent to -24.5 percent.
 

zszczhyx

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China’s unwillingness to deliver more stimulus during the current international slowdown is putting more pressure on the US to support international growth, World Bank President David Malpass said.

“China in previous global down cycles was counter-cyclical, meaning they would cut interest rates, they would increase their government spending,” Malpass said in an interview with Bloomberg Television. “They’re doing less of that this time.”
A key difference is that China has “been less eager to really stimulate this time,” Malpass said. “That may be good for their economy and good for the long run, but it means for the world you’ve got the No. 2 economy that’s not really jumping forward. That puts more burden on the US.”
;)
 

Biscuits

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;)
Lmao recession even after massive inflation = "not really jumping forward". Normal people call that nosediving.

It is expected growth will also slow in China when almost everyone from number 2 to number 10 largest economies (US and NATO) are experiencing contraction due to their unwise and self inflicted economical aggression.

As long as hostile countries lose more than China is losing, it is a victory of sorts.
 

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