smith. we will get to the escalating foreign threat. first to the tense battle playing out here at home with control of congress at stake. john: president biden on his way to upstate new york at this hour to push manufacturing jobs. with 12 days to go before the midterms, it s all about the economy. here is the president before takeoff. great economic report today, the gdp report. things are looking good. sandra: clearly not all americans agree with that statement, with inflation leading voters top concerns, now democrats are sending out their top guns in hopes for a midterm miracle. president biden s former boss, barack obama, kicking off his campaign travels, stumping for democrats in key battleground states. he starts his midterm swing in georgia tomorrow before heading to pennsylvania to campaign for candidate john fetterman. john: and that s not all. the vice president making an appearance in pennsylvania on friday. kellyanne conway is standing by to react to th
too. nothing is happened. we re doing it all wrong. sandra: as you see that and point out the globe is flat lined, little growth to be seen anywhere, ron klain, chief of staff to president biden is still today saying this. the economy, we are making progress on the economy. it is not just the gdp numbers you mentioned, the economy did grow inside that as a measure of price, it came down dramatically. we re seeing some easing on inflation. sandra: i m not sure what that means or what to take away from that. well, look, if i were mr. klain, i would make the same argument on the eve of election he will be shellacked. putting aside that numbers underneath the 2.6% hood, if you look at the basic core gdp, it was 0.1. in other words, consumption plus investment, housing and business investment, about 85% of the economy.
La reducción del consumo durante el pasado ejercicio se redujo en un 10,7% con respecto a 2019 debido, en parte, a las restricciones de horarios y actividad comercial |
to have robust demand and without robust demand, we re not going to have a robust recovery. why is it the case? so that the standard gdp calculation rises, government versus consumption plus investment and minus your trade deficit, right? so if it s not going to consumption and it s going into the pockets of the top 1% or whatever, why aren t we seeing that reflected in investment? in fact, we saw very good business and investment numbers in the latest economic data. where are those dollars disappearing to? people invest when there s no return. excess capacity, you re not going to build more excess capacity just because the fed has low interest rates. i mean, if you look at investment overall, before the crisis, about 40% of all investment was in real estate. now, that is going to be damp dampened just because we built too many houses. and we had a bust, right?