CNBC: The economy is on the cusp of a major boom and economists believe it could last
* The economy is just starting a boom period, where second-quarter growth could top 10%, and 2021 could be the strongest year since 1984.
* The second quarter is expected to be the strongest, but the boom is not expected to fizzle, and growth is projected to be stronger than during the pre-pandemic into 2022.
* A period of supercharged growth is just starting, and it is showing up in surging consumer spending and in an increasing shortage of skilled workers.
* With surging demand could come inflation, something the economy has avoided for more than two decades.
The economy has entered a period of supercharged growth, and instead of fizzling, it could potentially remain stronger than it was during the pre-pandemic era into 2023.
Economists now expect the second quarter to grow at a pace of 10%, and growth for 2021 is expected to be north of 6.5%.
In the past decade, there have been few quarters where gross domestic product grew at even 3%. Forecasts for 2021 and 2022 were revised higher after Congress approved $1.9 trillion in fiscal spending, on top of an earlier $900 billion package late last year.
Read more ....
WNU Editor: Some people are obviously doing well. But I do not see this US economic boom happening for the common person. Not even close. What I see is a lot of desperation and worry .... This Economic Depression Has Left Very Deep Economic Scars All Over America (The Most Important News).
But the U.S. is not alone. In the country where I live (Canada), I am seeing the same desperation and worry .... 53% Of Canadians On Brink Of Insolvency (Zero Hedge). No so for my friends and contacts who live in China. they are telling me that everything is back to "boom times".
Update: Small Business Closures Soar Back Near Pandemic Peak As "Financial Hopelessness" Builds (Zero Hedge)
7 comments:
When we have an *administration which is hell bent on destroying the economic engine of the nation (the oil industry), It will definitely reduce the "Boom" for blue collar workers. There will Less jobs overall and much higher energy prices for everyone - who might that affect the most?
When we have an *administration which is determined to raise the corporate tax (and penalize high earners who currently pay 80% of all income taxes), prices will rise (because corporations pass tax burdens to the consumer) and small business will reduce payrolls.
I do hope there will be a continuation of the Trump economic boom. If there is one, it will be in spite of *Resident Biden, not because of him.
WOKENOMICS,
101,
R,
Destroying the oil industry and rising energy prices will not affect black people. The Democrats are passing reparations and they are just going to be given a few hundred thousand or a million dollars.
get over it. Biden doing great and the economy recognizes that. Not by chance he is so popular with voters, far and away well beyond what Trump ever had...now keep pecking away. Fact: economy will boom. Fact: Biden policies steering it along.
6:00 PM
Spoken like true economic wunderkind. How exactly? Please explain to us one policy decision Biden has made to enhance the US economy.
/besides of course the miracle strokes of cancelling the Keystone pipeline and throwing open the borders during a pandemic.
MARCH 10, 2021
Is The Biden Economy About To Boom?
WNU Editor: Dumping "helicopter money" will impact the markets and Wall Street. As for the impact on Main Street .... too early to say. The child credit will help low income families with children. But there will be a cost to that assistance .... inflation and unemployment being two of them.
Update: As I said. Helicopter money is great for Wall Street .... Stocks maintain gains following key bond auction, Dow is up 400 points (CNBC).
Dear Frederick R. Lapides, the 6 PM poster,
People do not pay you for advice. There must be a very good reason for that circumstance. Never once have you questioned your own wisdom.
WNU made a prediction a month ago. It was not on the talking point memo you are given every day, so you did not comment on it at the time.
I really do not expect a cogent or coherent response form you. Rather I expect a bunch of bluster sans analysis.
Awwwwww! No bluster. Maybe we'll get the kidd treatment like we did a month ago.
Massive spending, massive inflation ... say what? you retired? Sux to be you! Ha ha Better hope the spouse still works. Otherwise, government housing for you. Checkout what happened in Always Sunny Sweden when the government moved elderly out of their housing to make room for immigrants and refugees.
Enjoy.
Still no bluster
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