{"id":470,"date":"2008-07-31T18:00:46","date_gmt":"2008-07-31T18:00:46","guid":{"rendered":"http:\/\/astraea.net\/blog\/?p=470"},"modified":"2008-07-31T18:00:46","modified_gmt":"2008-07-31T18:00:46","slug":"is-the-us-economy-really-growing","status":"publish","type":"post","link":"https:\/\/www.astraea.net\/blog\/is-the-us-economy-really-growing\/","title":{"rendered":"Is the US economy really growing?"},"content":{"rendered":"<p>Today&#8217;s <a href=\"http:\/\/news.bbc.co.uk\/2\/hi\/business\/7535313.stm\">report of 1.9% annualised growth of the US economy in the second quarter<\/a> is surprising.\u00a0 With virtual stagnation of property markets, dry credit and inflation it seems implausible that this growth is occurring.\u00a0 These numbers from the <a href=\"http:\/\/www.commerce.gov\/\">Department of Commerce<\/a> are preliminary and may be downgraded.<\/p>\n<p>Many analysts, including us, believe that the US economy is experiencing a recession, even though official confirmation may not come for many months yet.\u00a0 The administration is trying to put on a brave face and stave-off a severe down-turn with positive propaganda and rescue packages.\u00a0 This will only buoy up certain sectors and individuals and distracts the US from what it does well &#8211; dealing with problems by adapting and innovating.<\/p>\n<p>You can read the<a href=\"http:\/\/www.bea.gov\/newsreleases\/national\/gdp\/2008\/pdf\/gdp208a.pdf\"> full release here<\/a> (pdf), which highlights the sectoral changes.\u00a0 Expect a downgrade by the end of August.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Today&#8217;s report of 1.9% annualised growth of the US economy in the second quarter is surprising.\u00a0 With virtual stagnation of property markets, dry credit and inflation it seems implausible that this growth is occurring.\u00a0 These numbers from the Department of Commerce are preliminary and may be downgraded. Many analysts, including us, believe that the US &hellip;<br \/><a href=\"https:\/\/www.astraea.net\/blog\/is-the-us-economy-really-growing\/\" class=\"more-link pen_button pen_element_default pen_icon_arrow_double\">Continue reading <span class=\"screen-reader-text\">Is the US economy really growing?<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[27,17],"tags":[],"class_list":["post-470","post","type-post","status-publish","format-standard","hentry","category-economy","category-us"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p4hwcd-7A","jetpack_likes_enabled":true,"_links":{"self":[{"href":"https:\/\/www.astraea.net\/blog\/wp-json\/wp\/v2\/posts\/470","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.astraea.net\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.astraea.net\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.astraea.net\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.astraea.net\/blog\/wp-json\/wp\/v2\/comments?post=470"}],"version-history":[{"count":0,"href":"https:\/\/www.astraea.net\/blog\/wp-json\/wp\/v2\/posts\/470\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.astraea.net\/blog\/wp-json\/wp\/v2\/media?parent=470"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.astraea.net\/blog\/wp-json\/wp\/v2\/categories?post=470"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.astraea.net\/blog\/wp-json\/wp\/v2\/tags?post=470"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}