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If US Economy Is Running Hot, I’d Hate To See Cold

ByTim Knight
Published 03/03/2022, 12:29 PM
Updated 07/09/2023, 06:31 AM

All we hear about is how hot our economy is and how it’s OK that it is running hot. Ummm, are their screens upside-down? Because I’m not the brightest bulb in the hardware store, but to me, this doesn’t conjure up the word “hot” but more like hospice.

GDP Estimates

I think a couple of charts from David Stockman, whom I read daily, tell the story well. First is the index of the aggregate number of hours worked. The big success story here is that the entire nation is ALMOST working the same number of hours before COVID hit. So not so much “hot” as “almost back to where we were.”

Index Of Aggregate Number Of Hours Worked

And in case anyone actually buys Powell’s pledge to provide price stability, I hereby present to you the value of the US dollar in purchasing terms since he started his important work at the Fed.

Purchasing Power Of The Consumer Dollar In US City Average

Latest comments

You need to find a better source of information if you are relying on David Stockman as the "Go-To Guy". He was a plonk in high school and a plonk during Reagan. You can do better.
You need to buy some gas at the gas station and stop cheerleading  for Powell. We don't need a chart to tell we can't buy near as much at the stores. Maybe your parents are buying everything at your house?
What's hot is inflation. I think the government recently pledged to spend our way into deflation.
you have a valid point
us people big devil
Powell should have been fired a long time ago. And get Yellen out of Treasury.
Well written
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