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Page added on May 6, 2017
Real Economic Growth Is 2%
Bill Gross, a fund manager at Janus Capital, says real economic growth in the U.S. is a 2 percent number going forward. Prior to that, Jean-Claude Trichet, former ECB president, says he agrees with Emmanuel Macron on respecting rules and reforming France. Alan Krueger, a professor at Princeton University, remembers the legacy of economist William Baumol. Finally, James Glassman, a senior economist at JPMorgan Securities, says low oil prices are bad for energy sectors but great for Americans.
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Running time 58:32
6 Comments on "Real Economic Growth Is 2%"
onlooker on Sat, 6th May 2017 2:21 pm
“Perhaps the intellectual surrender is so complete because the forces we hoped would make the world a more civilised place – personal freedoms, democracy, material advance, technological power – are in truth paving the way to its destruction. The powers we most trusted have betrayed us; that which we believed would save us now threatens to devour us.
For some, the tension is resolved by rejecting the evidence, which is to say, by discarding the Enlightenment. For others, the response is to denigrate calls to heed the danger as a loss of faith in humanity, as if anguish for the Earth were a romantic illusion or superstitious regression.
Yet the Earth scientists continue to haunt us, following us around like wailing apparitions while we hurry on with our lives, turning around occasionally with irritation to hold up the crucifix of Progress.” Clive Hamilton
Davy on Sat, 6th May 2017 2:48 pm
The definition of “Real” must be established. In our relativity of moral hazard the data and results are open to adjustments and interpretations. Madoff once had a real growth rate. In a world of extend and pretend of rate repression and monetized debt what is real price discovery? You need real price discovery to interpret growth. How can you compare growth rates past, present, and future with so many moving benchmarks.
If there is 2% growth today it likely would not be if rates normalized and bad debt were realized. In the status quo now it is all about a herd confidence driven by the maintenance of market bubbles by state actors. If we really had a real growth rate it would be really scary.
Boat on Sat, 6th May 2017 4:59 pm
The fed has a target rate, they attempt different strategies to achieve that target. I am not sure there is a normal rate in boom/bust cycles. However they get paid to influence the market, so influence the market they will.
Sissyfuss on Sat, 6th May 2017 11:13 pm
If the stats were not from the shadows we would realize that we never left the Great Recession and never will.
GregT on Sun, 7th May 2017 4:47 am
“However they get paid to influence the market, so influence the market they will.”
That’s quite the conspiracy theory Boat. You just might be onto something there. Two questions for you.
1. Who do you believe that “they” are?
2. Who do you believe is paying ” them” ?
makati1 on Sun, 7th May 2017 11:15 pm
Hmmm? 2%? If “REAL” numbers were used, and GDP was calculated as before the 80s, it would be MINUS 3% or more each year for at least the last 8 years. The “REAL” GDP is about $10T not $17T+. The median income is at 1980s levels. Inflation has doubled or tripled costs since then also. The U$ Government is in debt for $210T+ to pay it’s current obligations. The “REAL” unemployment rate is north of 20%. But then, the sheeple don’t want to fact those facts. They prefer ignorance.