Up You Go! Goldman Sachs Predicts 8% American Economic Growth

“We have raised our GDP forecast to reflect the latest fiscal policy news and now expect 8% growth in 2021 (Q4/Q4) and an unemployment rate of 4% at end-2021 — the lowest among consensus forecasts—that falls to 3.5% in 2022 and 3.2% in 2023.”

The la$t time U.$. GDP hit 8% growth wa$ in 1951.

The la$t time U.$. GDP hit 8% growth wa$ in 1951.

The last time U.S. GDP hit 8% growth was in 1951.

(Just wanna’ make sure you see it CLEARLY.)

https://www.msn.com/en-us/money/markets/bidens-stimulus-will-lift-us-growth-to-8-this-year-goldman-sachs-says-without-factoring-in-another-2-trillion-spending-package/ar-BB1eBQrg

• Goldman Sachs lifted its 2021 US growth forecast to 8% from 7.7%, citing new stimulus for the boost.
• The bank also expects Biden and Democrats to pass at least $2 trillion in infrastructure spending.
• That sum could hit $4 trillion if the deal includes education, child-care, and health-care spending.

Goldman Sachs joined its Wall Street peers in revising its US economic outlook on Saturday, pegging an increasingly bullish forecast to Democrats’ latest stimulus package.

The team led by Jan Hatzius now expects US gross domestic product to grow 8% in 2021 on a fourth-quarter-to-fourth-quarter basis, according to a note published Saturday. That’s up from the previous estimate of 7.7%. The bank’s full-year growth estimate climbed to 7% from 6.9%.

The current-year projection largely hinges on President Joe Biden’s stimulus plan, as Goldman had initially expected a $1.5 trillion deal to reach Biden’s desk. The $1.9 trillion plan signed by the president on Thursday will accelerate the nation’s economic recovery through

The iPhone Stimulus

Gonna’ get yours?

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By PAUL KRUGMAN, September 13, 2012

Are you, or is someone you know, a gadget freak? If so, you doubtless know that Wednesday was iPhone 5 day, the day Apple unveiled its latest way for people to avoid actually speaking to or even looking at whoever they’re with.

So is the new phone as insanely great as Apple says? Hey, I’ll leave stuff like that to David Pogue. What I’m interested in, instead, are suggestions that the unveiling of the iPhone 5 might provide a significant boost to the U.S. economy, adding measurably to economic growth over the next quarter or two.

Do you find this plausible? If so, I have news for you: you are, whether you know it or not, a Keynesian — and you have implicitly accepted the case that the government should spend more, not less, in a depressed economy.

Before I get there, let’s talk about where the buzz is coming from.

A recent research note from JPMorgan argued that the new iPhone

Chinese Economic Slowdown is in the Making TRANSLATION: America is coming up!

As the Rota Fortuna – the wheel of fortune – goes, one side goes up, while the corresponding side goes down.

America’s turn is next.

We’re comin’ up!

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Bears at the heart of the dragon

Global Insight
September 12, 2012 3:50 pm, By Jamil Anderlini in Tianjin

Among the corporate titans and global leaders attending the World Economic Forum in the eastern Chinese city of Tianjin this week a fascinating division appears to have formed.

In quiet conversations and background chats with Chinese officials and analysts about the state of things in China, the tone of despondency and cynicism was pervasive while the views of international attendees on China were generally bullish and upbeat.

Rota Fortuna – the Wheel of Fortune – Fortune and Her Wheel: Illustration from Vol. 1 of Boccaccio’s De Casibus Virorum Illustrium (On the Fates of Famous Men) (1467, Glasgow, Glasgow University LIbrary)

At one point, during

Our National Economy

This is the second in a multi-part series about our national economy.

How we are affected by downturns, spikes and elevations in the economy individually/personally and as families/communities has great similarity across a wide spectrum. But perhaps most importantly, in this instance, once we know the problem, or the causes of the problems, we also know the solutions. That is the natural corollary to identifying those problems.

The CIA World Factbook – which is available online at https://www.cia.gov/library/publications/the-world-factbook/geos/us.html – indicates that “Since 1975, practically all the gains in household income have gone to the top 20% of households.”

The next question that arises from that fact is this: Why?

The Central Intelligence Agency offers this explanation: