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Alternative Visions- US GDP 1st Quarter 2024 + Why Mainstream Economists’ Forecasts Consistently Fail
Manage episode 415465928 series 3022165
Content provided by Progressive Radio Network. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Progressive Radio Network or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://player.fm/legal.
The first pass for US GDP for 1st Quarter 2024 was released last week. Today’s show dissects the areas generating growth vs. those slowing US economy. Takeaways from the data are discussed: Contracting now are consumer spending on goods, business private inventories and a big contraction in net exports. Only consumer spending on services continue to drive GDP as government spending slows but remains positive. The show explains why the 1.6% GDP rise in Jan-March was actually lower, once the adjustment for prices is more accurately estimated. Why and how the US low-balls inflation and thereby boosts real GDP. Real growth in US economy was therefore flat. The show then discusses why mainstream economists consistently get their forecasts of the economy wrong—prices, jobs, and GDP—because their forecast models contain multiple assumptions that are simply incorrect.
27 episodes
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Manage episode 415465928 series 3022165
Content provided by Progressive Radio Network. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Progressive Radio Network or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://player.fm/legal.
The first pass for US GDP for 1st Quarter 2024 was released last week. Today’s show dissects the areas generating growth vs. those slowing US economy. Takeaways from the data are discussed: Contracting now are consumer spending on goods, business private inventories and a big contraction in net exports. Only consumer spending on services continue to drive GDP as government spending slows but remains positive. The show explains why the 1.6% GDP rise in Jan-March was actually lower, once the adjustment for prices is more accurately estimated. Why and how the US low-balls inflation and thereby boosts real GDP. Real growth in US economy was therefore flat. The show then discusses why mainstream economists consistently get their forecasts of the economy wrong—prices, jobs, and GDP—because their forecast models contain multiple assumptions that are simply incorrect.
27 episodes
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Show notes are at https://stevelitchfield.com/sshow/chat.html
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The American healthcare system is one of the most innovative in the world. But it’s also riddled with complex challenges, such as access to affordable medications, inefficiency and administrative burdens, and communication barriers between providers. There’s clearly a better way—and at Surescripts, we have a unique sightline into what that may be. In this series, host Melanie Marcus, Chief Marketing Officer of Surescripts, sits down with today’s most inspiring and innovative leaders in healt ...
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continue reading
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