Is the US economy growing?
This could very well be a loaded question, and while some say yes, I don’t see it. While this isn’t intended to be argumentative, I have to tell you that as we continue to go through so many changes in the US, I still think we are a long way off from being in a good economic status. Every time we thought we were close, we went into a new round of quantitative easing.
Printing money that we can’t back up puts us into an even more perilous position, and not to mention that the more we print money that we cannot back the further into the financial abyss we go. If there is no easy way out, and we aren’t really prepared to get out of this financial situation, what do we do to improve upon our financial state? How can we really go from a bad situation to a better one?
So, is the US economy growing? I can see where there is some growth as more and more Americans decide to start their own business, but in terms of the long term call for financial peace we are still so far away. What is the answer? Could it be gold?
The big question as of today is;
Is the US economy growing in 2013? While media tells us yes, I say not so much in the traditional sense. Let me explain if I may. I work for myself, and I believe that I can generate more income for myself as a result. I believe I can do this better than I can by working for someone else.
According to the US Bureau of Economic Analysis, the following was reported:
Real gross domestic product in the United States increased at an annual rate of 2.4 percent in the first quarter of 2013 (that is, from the fourth quarter to the first quarter), according to the “second” estimate released by the Bureau of Economic Analysis. Drop in government spending and slower inventory building overshadowed the big increase in consumer spending.
The GDP estimate released on May 30th is based on more complete source data than were available for the “advance” estimate issued last month. In the advance estimate, real GDP increased 2.5 percent. With the second estimate for the first quarter, increases in private inventory investment, in exports, and in imports were less than previously estimated, but the general picture of overall economic activity is not greatly changed.
The increase in real GDP in the first quarter primarily reflected positive contributions from personal consumption expenditures (PCE), private inventory investment, residential fixed investment, nonresidential fixed investment, and exports that were partly offset by negative contributions from federal government spending and state and local government spending. Imports, which are a subtraction in the calculation of GDP, increased.
Real personal consumption expenditures increased 3.4 percent in the first quarter, compared with an increase of 1.8 percent in the fourth. Durable goods increased 8.2 percent, compared with an increase of 13.6 percent. Nondurable goods increased 2.2 percent, compared with an increase of 0.1 percent. Services increased 3.1 percent, compared with an increase of 0.6 percent.
This means a few things, including:
- The key number is “real personal consumption expenditures increased 3.4 percent the first quarter
- There was an increase in 1.8 percent in the 4th quarter of the prior year
Doesn’t this fall in line with the holidays? We do this every year, yet we continue to avoid the real issue. Change is coming, and that means with inflation coming and the dollar losing value, we will need to buy gold and a lot of it.
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