Here’s a snapshot of nowcasts and forecasts as of today:
Figure 1: GDP (bold black), Summary of Economic Projections median (inverted light green triangle), GDPNow as of 9/18 (light blue square), NY Fed nowcast as of 9/20 (red triangle), FT-Booth as of 9/14 (blue square), and August median SPF (tan), all in bn.Ch.2017$ SAAR. Levels calculated by iterating growth rate on levels of GDP, except for Survey of Professional Forecasters. Source: BEA 2024Q2 2nd release, Atlanta Fed, NY Fed, Philadelphia Fed, Federal Reserve September 2024 SEP and author’s calculations.
One can see how the nowcasts have evolved by looking at the implied trajectories with intervening weeks.
Figure 2: GDP (bold black), GDPNow as of 9/18 (light blue square), as of 9/6 (light blue square), NY Fed nowcast as of 9/20 (dark red line), as of 9/13 (light red line), all in bn.Ch.2017$ SAAR. Levels calculated by iterating growth rate on levels of GDP. Source: BEA 2024Q2 2nd release, Atlanta Fed, NY Fed, and author’s calculations.
rising but you are in recession!!
Off topic – Egypt’s $10 million bribe to Trump keeps falling off the journalistic platter. More Demicrats have joined the effort to put it back:
https://talkingpointsmemo.com/news/key-dem-senators-call-for-probe-into-allegations-that-egypt-funneled-10m-to-trump-for-2016-campaign
Turns out, Egypt may not be the only country which provide bribes to Trump:
https://www.citizensforethics.org/reports-investigations/crew-reports/trump-likely-benefited-from-13-6-million-in-payments-from-foreign-governments-during-his-presidency/
Let’s go, people. Voting starts next month.
I bet these foreign bribes to Trump are only the tip of the iceberg.
Another means for MAGA morons to waste their money on their Orange Jesus. Yes – you can buy $30 worth of silver for a mere $100!
No cents of shame: Trump unveils new commemorative coin for $100 in latest merchandise grab
https://www.yahoo.com/entertainment/no-cents-shame-trump-unveils-224711580.html
Former President Donald Trump is selling commemorative coins for $100 as he continues to ask his supporters for cash by purchasing various merchandise. The coins display Trump’s face and an image of the White House with the words “In God We Trust.” Earlier this year, Trump launched golden Trump sneakers and Trump bibles. He has also been selling several batches of NFTs as well as physical Trump cards. Trump wrote on Truth Social on Saturday that the coins are “The ONLY OFFICIAL coin designed by me—and proudly minted here in the USA.” The “Silver Medallion” coins will be available on Wednesday via a website set up specifically to hawk the merchandise. Trump also shared a video on Truth Social, saying “This beautiful, limited-edition coin commemorates our movement, our fight for freedom, prosperity, and putting America first, we always put America first.”
Trump does not put America first. He puts himself first in each and every scam he pulls off on the morons who adore this clown.
US Government Hands Out $3 Billion For Battery Manufacturing
https://www.msn.com/en-us/autos/news/us-government-hands-out-3-billion-for-battery-manufacturing/ar-AA1qVhTH?ocid=msedgdhp&pc=U531&cvid=7c0d4dd983964af3a7bff429bf85b312&ei=51
This will require lots of lithium. It seems Pennsylvania has lots of lithium. Of course producing it raises a host of environmental concerns.
The Great Salt Lake has a staggering amount of lithium, but environmental concerns prevent it being extracted.. my dad worked for The Lithium Corporation of America back in the day when they could extract it from the GSL, but it wasn’t a big market like it is today.
One of the most exciting developments in batteries are non-lithium chemistries. The Sodium ion batteries are particularly great for US. We have about 90% of the world deposits of the type of sodium best suited for making them. They have all the things you would want in a battery – low cost, low maintenance, long lasting – except for being bulky. So they are perfect for home or utility scale batteries. Car batteries are probably going to be Lithium-Iron-Phosphate for the next decade or two.
“I challenge you to go to Springfield, Ohio which has been overwhelmed by 20,000 Haitians. Go to any community that has been overwhelmed by Kamala Harris’ illegal alien policies and tell me that these are stories made up by politicians” – the JD Vance challenge:
https://www.msn.com/en-us/news/politics/jd-vance-s-springfield-ohio-challenge-called-out-with-key-fact/ar-AA1qYjub?ocid=msedgdhp&pc=U531&cvid=66aab6784608407baa534d040f60c983&ei=7
Challenge met over and over. Hey JD – come on admit. You are one retarded dude.