No. 851: Third-Quarter GDP, Freight Index, Consumer Conditions, U.S. Solvency Issues
In Context of Pending Fiscal Stimulus,
Long-Term U.S. Sovereign Solvency Issues Have to Be Addressed
October Freight Index Continued in Low-Level Non-Recovery
Post-Election Consumer Expectations Brightened Sharply,
Although October Real, Median Household Income Continued to Stagnate
Non-Credible and Unstable Third-Quarter Reporting Showed Growth of
3.2% for GDP, 5.2% for GDI and 3.1% for GNP
Underlying Reality Remains Far from a Surging Economic Recovery
Headline GDP Growth Remained Massively Inconsistent with Recession in
Freight Traffic, Petroleum Usage, Corporate Revenues, Construction,
Industrial Production and Broad Employment Indicators