“Overall, this is a big disappointment given that the consensus expectation at the start of the quarter in July was for a 7.0% gain and even our own bearish 3.5% forecast proved to be too optimistic,” said Capital Economics chief US economist Paul Ashworth in a note to clients.
Imao delusional fucks
Unbelievable. These coping fucks actually thought they were going to see regular growth figures in an economy where millions are quitting their jobs.
To me, it's very confusing that there is an overabundance of work such that we are facing a labor crisis, but it's somehow also true that GDP growth is at 2%.
Buying/selling ownership stakes in companies
Based on expectations of future value of companies
Based on expected profitability of the companies
Based on how much value they can potentially extract from laborers in the future
Yeah sounds about right
Not so hard to explain if the economy stayed the same size and you lost a million workers to covid
Edit: this is also the explanation behind “I don’t understand the benefits ran out why aren’t people getting back to work”
Corpses can’t work
Wages aren't keeping up with inflation and the "labor crisis" is capital trying to spin greater labor leverage as an undersupply problem rather than an undercompensation problem.
This winter has the potential to be rather unpleasant for a lot of people. The Cool Zone is out there on the horizon again.
:sicko-pog:
"growth slows" it's still growing at an exponential rate shut the fuck up
Projections are based on a certain rate of growth. If the growth slows down, bad things happen.
And they still chopping that infrastructure bill further. America is going to kill itself.
Wonder how long it'll be before someone finds my frosted corpse frozen to a bench
Oh my sweet summer child. They'll have built those anti-homeless "armrests" on all the benches by then. They'll find your frozen corpse under the bench.
