Yesterday the gov updated the second quarter GDP report to show;
the economy grew at a 3.3% clip.
That's pretty good!
Generally, it is perceived that a rate of growth between 2.5% and 3.5% means the economy is healthy.
Okay, we had the stimulas checks, and may I add that they worked. These checks, to me, were pretty much the same as a tax rebate. Does this support tax cuts. It is quite obvious that when you put more $$$$$'s in the hands of consumers, in this country, they will be spent.
Still, many naysayers continue to state that we're in a recession. My suggestion is to ignore them.
Durable goods orders jump 1.3%. This is the second month that this manufacturing indicator has shown a higher than anticipated increase.
Let's point out the obvious, this has nothing to do with stimulas checks!
Jobless claims ease for 3rd consecutive week!
You can ignore this data if you choose, but facts are facts.
The national media continues to spend 90% of its time and ink on housing, while it probably comprises less than 10% of total economic activity. It's the chic thing to do.
But, facts are facts, and;
Good News, is Good News, whether you like it or not!