Comments on: 37,305 https://habitablezone.com/2023/12/17/37305/ Tue, 07 Apr 2026 02:59:16 -0700 hourly 1 http://wordpress.org/?v=3.3.1 By: BuckGalaxy https://habitablezone.com/2023/12/17/37305/#comment-52783 BuckGalaxy Mon, 18 Dec 2023 06:08:05 +0000 https://habitablezone.com/?p=102245#comment-52783 Third quarter growth rate of 4.9%. That's the first time in decades the US economy is growing faster than China's. Unemployment is at a 50 year low at 3.7%, despite a big increase in the work force participation rate. Wages are finally catching up with inflation and even unskilled labor is making at least $15/hour and usually more. The strong growth rate has been attributed to the big investment bills passed in the first two years of the Biden admin. All that money from The American Recovery Bill, the bi-partisan Infrastructure Bill, the Inflation Reduction Act, and the CHIPs Bill are now hitting and juicing the economy like it hasn't been since the days of the New Deal. (Hats off to the power of government spending! Or more accurately, government investment.) And despite the very high growth rate and increase in wages, inflation has gone from over 9% in June of 2022 to around 3% today. In fact, inflation has dropped so much The Federal Reserve has said they will end rate increases and plans on three rate cuts next year. This more than anything is why the stock market shot up. Nonetheless, a majority of Americans are under the impression that the economy is in bad shape. Hopefully that disconnect from reality fades soon. Third quarter growth rate of 4.9%. That’s the first time in decades the US economy is growing faster than China’s. Unemployment is at a 50 year low at 3.7%, despite a big increase in the work force participation rate. Wages are finally catching up with inflation and even unskilled labor is making at least $15/hour and usually more. The strong growth rate has been attributed to the big investment bills passed in the first two years of the Biden admin. All that money from The American Recovery Bill, the bi-partisan Infrastructure Bill, the Inflation Reduction Act, and the CHIPs Bill are now hitting and juicing the economy like it hasn’t been since the days of the New Deal. (Hats off to the power of government spending! Or more accurately, government investment.)

And despite the very high growth rate and increase in wages, inflation has gone from over 9% in June of 2022 to around 3% today. In fact, inflation has dropped so much The Federal Reserve has said they will end rate increases and plans on three rate cuts next year. This more than anything is why the stock market shot up.

Nonetheless, a majority of Americans are under the impression that the economy is in bad shape. Hopefully that disconnect from reality fades soon.

]]>