ACTV - Chart Of The Day: Lowered Expectations
2024-04-04 04:40:00 ET
Summary
- I think the Great Financial Crisis did something nasty to our perceptions of the world - it reset our expectations permanently lower.
- In the last few years, RGDP has averaged just 2.2%.
- More recently, GDPNow is expected to come in at 2.8% based on the latest estimates.
Someone emailed me the other day asking about my “muddle through” prediction of the last few years. They were pushing back on this idea that the US economy is just muddling along. I actually love conversations like this because they make me question my own views and consider countering positions. I’ve mentioned in the past that I do this a lot now. I go out of my way to understand the other side of arguments, and it’s turned me into the most annoying person because I can “both sides” any argument now to the point where my own wife doesn’t even know what I believe anymore. Don’t worry, I know exactly what I believe, but I am just trying to keep her on her toes so she’ll stick around for a few more years....
Chart Of The Day: Lowered Expectations