Daily Archives: February 28, 2019

US GDP exceeds expectations 1

CNBC has the story Stocks in Asia gain following stronger-than-expected US economic data

US GDP exceeds expectations

Overnight on Wall Street, the Dow Jones Industrial Average slipped 69.16 points to close at 25,916 and the S&P 500 shed nearly 0.3 percent to finish its trading day at 2,784.49. The Nasdaq Composite also lost about 0.3 percent to close at 7,532.53.

The losses stateside came despite the release of data which showed the U.S. economy grew at an annualized rate of 2.6 percent in the fourth quarter of 2018, according to the U.S. government. That was above forecasts of economists polled by Dow Jones, who expected the economy to grow at a pace of 2.2 percent.

Maybe there are enough astute investors who realize the GDP, which grew at 2.6%, includes gains made in the FIRE sector (Finance, Insurance, and Real Estate) Any growth in that industry is a dead weight overhead on the economy, and actually subtracts from the productive capacity of the economy.

When Trump brags about the growth of GDP, he surely hopes that most of the people in the 99% don’t know this about the GDP. Then again, maybe Donald Trump doesn’t even know that buying and selling real estate does not add anything to the economy. Building real estate does add something if it is useful for carrying out business or satisfying a real need.

Yes, there is fake news, and it comes out of Donald Trump’s mouth when he talks about stories like this one.

Bernie Repeats CIA Talking Points On Venezuela

YouTube has the Jimmy Dore video Bernie Repeats CIA Talking Points On Venezuela.

Jimmy Dore is shouting at the top of his lungs trying to get people to understand. I take it as my mission to get the word out on this. The future of the wrold may depend on our ability to put a halt on USA imperialism and our methods of laying siege to anybody who doesn’t do things the way we want. Oil and Socialism seem to be the hot buttons for the USA. Having a certain amount of socialism in a mixed economy is necessary to keep the oligarchs from having total control. If we let the USA oligarchs, and oligarchs around the world, wipe out even the possibility of some socialism, we will return our civilization back to the days of feudal lords.