Nothing to write home about, be it growth, spending or inflation.

From the news:

The U.S. economy is posting another quarter of solid growth.

…Many economists are projecting growth of between 2.5% and 3% in the fourth quarter, putting the U.S. in reach of a milestone: Three consecutive quarters of above 3% growth for the first time since 2004-2005.

Give me a break!

This is the real growth picture since the economy left behind the doldrums of the 2008-09 Great Recession.

More recently, since early 2015, mean growth has ticked down, but growth volatility has dropped significantly. Instead of “solid growth”, it´s more like a “Depressing Great Moderation”!

Elsewhere, the nominal economy remains “lethargic”. You just have to look at aggregate nominal spending (NGDP) growth, consumer spending and inflation since the early 1990s, contrasting the pre-great recession and post-great recession periods.


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