PF5
Deputy
with Oklahoma winds?! hmmmmmmm
US continues to go forward
- Thread starter JTOSU
- Start date
I’d be surprised if it happens but cool they are even considering it.
The one on the books is 2nd tallest. All that is needed is for the city to approve them.
HacklemanPoke
Deputy
In an interview the developer has already hedged and is saying “of course it can be scaled down if demand is not there”
US fourth quarter economic growth handily beats expectations
WASHINGTON (Reuters) - The U.S. economy grew faster than expected in the fourth quarter amid strong consumer spending, and defied dire predictions of a recession in 2023 after the Federal Reserve aggressively raised interest rates, with growth for the full year coming in at 2.5%.
Gross domestic product in the last quarter increased at a 3.3% annualized rate, the Commerce Department's Bureau of Economic Analysis said on Thursday in its advance estimate of fourth-quarter GDP.
The economy grew at a 4.9% pace in the third quarter. Economists polled by Reuters had forecast GDP advancing at a 2.0% rate. Estimates ranged from a 0.8% rate to a 2.8% pace. The
economy is expanding at a pace above what Fed officials regard as the non-inflationary growth rate of around 1.8%.
Growth last year accelerated from 1.9% in 2022. The economy has stunned captains of industry and some economists who had called for a downturn since mid-2022. Part of the economy's stamina reflects labor market resilience, marked by low layoffs and strong wage gains, which are underpinning consumer spending.
The labor Department in a separate report on Thursday said initial claims for state unemployment benefits increased 25,000 to a seasonally adjusted 214,000 for the week ended Jan. 20. Economists had forecast 200,000 claims in the latest week.
Increased government spending as well as near-zero interest rates during the COVID-19 pandemic, which allowed some corporations and households to lock in low rates, have also helped stave off a recession.
Economists had largely based their gloomy forecasts on the rapid pace at which the U.S. central bank was raising rates to dampen demand. Most have walked back their recession calls and now expect slow growth this year.
The Fed, at its meeting next week, is expected to keep its policy rate unchanged at the current 5.25%-5.50% range.
With the GDP report also showing inflation pressures subsiding last quarter, the central bank is widely anticipated to start cutting rates sometime in the first half of this year. Since March 2022, the Fed has raised its benchmark overnight rate by 525 basis points.
U.S. Economy Grew 2.5% Last Year, Defying Recession Calls
Economic output expanded by 2.5% in 2023, a perhaps surprising feat considering the economy’s downtrodden state heading into the year, though growth last quarter slowed significantly.
Key Facts
Real U.S. gross domestic product grew 2.5% over the course of last year, according to Commerce Department data released Thursday morning.That’s far stronger than 2022’s 1.9% growth and is significantly better than the 0.5% output growth projected by the Federal Reserve at the end of 2022, signifying the strength of the American consumer in the face of higher interest rates.
Growth appears to be slowing, as the economy swelled by 3.3% from the fourth quarter of 2022 to the fourth quarter of 2023, falling well short of Q3’s 4.9% annual growth.
Still, the 3.3% growth smashed consensus economist estimates of 2%, proving the economy was far more resilient than anticipated.
Key Background
GDP measures the total value of all goods and services produced on American soil. Last year’s strong, but still below-average, economic expansion followed a painful 2022 marked by consecutive quarters of negative growth, which, by some definitions, indicated a recession. Yet the U.S. has thus far avoided entering an extended downturn as the labor market has remained intact while inflation declined from a 41-year high to an only slightly above average rate. The GDP growth coincided with the Fed hiking interest rates to their highest level since 2001 in a bid to tame inflation, a somewhat remarkable concurrence as severe rate hiking cycles typically precede extended downturns. Higher interest rates tend to suffocate the economy as elevated borrowing costs make personal and corporate loans more expensive.What We Don’t Know
If the economy can escape the Fed’s tightening cycle relatively unscathed. Central bankers project GDP to expand by 1.4% in 2024, which would be the second-weakest growth since 2010, behind only 2020. Some economists remain unconvinced the U.S. can escape without slipping into a recession.
PF5
Deputy
US growth shatters expectations, boosting Biden’s economic pitch politico
The Commerce Department reported Thursday that GDP expanded 3.1 percent in 2023, a year that began with heavy odds of a recession and closed out with fourth-quarter growth that blew away projections.
The U.S. economy is growing faster than expected as inflation falls, and the Biden administration is seizing the moment in a bid to counter one of the fiercest lines of attack by former President Donald Trump.
The Commerce Department reported Thursday that GDP expanded 3.1 percent in 2023, a year that began with heavy odds of a recession and closed out with fourth-quarter growth that blew away projections. The news comes during a week bookended by sales pitches from two top officials, White House economic adviser Lael Brainard and Treasury Secretary Janet Yellen. At the heart of their message: President Joe Biden’s strategy to help the middle class is working.
...
The Commerce Department reported Thursday that GDP expanded 3.1 percent in 2023, a year that began with heavy odds of a recession and closed out with fourth-quarter growth that blew away projections.
The U.S. economy is growing faster than expected as inflation falls, and the Biden administration is seizing the moment in a bid to counter one of the fiercest lines of attack by former President Donald Trump.
The Commerce Department reported Thursday that GDP expanded 3.1 percent in 2023, a year that began with heavy odds of a recession and closed out with fourth-quarter growth that blew away projections. The news comes during a week bookended by sales pitches from two top officials, White House economic adviser Lael Brainard and Treasury Secretary Janet Yellen. At the heart of their message: President Joe Biden’s strategy to help the middle class is working.
...
The best things going right now is:
1. OSU won a basketball game
2. Goons lost
3. Those pesky BYU got the whorns all knotted up.
4. The cotton price didn’t crash
1. OSU won a basketball game
2. Goons lost
3. Those pesky BYU got the whorns all knotted up.
4. The cotton price didn’t crash
Good job DOJ, he should be in jail. Trump should be able to lie about his wealth anywhere but court, bank loans, and IRS filings.
Trump rightfully called for whoever leaked his taxes to be jailed ...the DOJ has done just that and jailed the leaker
Doubt Trump will show any gratitude but he was on the winning side of justice in this case
Okstatekerr
Sheriff
Nah they've already turned to whataboutism. Wondering why Obama, Clinton, and Biden didn't have their taxes leaked. If someone mentions that those were released freely, they say no the real ones. Not the doctored ones that got released. Can't win with these people.
PF5
Deputy
U.S. winning world economic war axios
The United States economy grew faster than any other large advanced economy last year — by a wide margin — and is on track to do so again in 2024.
Why it matters: America's outperformance is rooted in its distinctive structural strengths, policy choices, and some luck. It reflects a fundamental resilience in the world's largest economy that is easy to overlook amid the nation's problems.
By the numbers: U.S. GDP looks to have grown 2.5% in 2023, according to the IMF's hot-off-the-presses World Economic Outlook, the highest among the G7 economies (Japan was second at 1.9%).
GDP growth among G7 nations
Table showing GDP growth among G7 nations with 2023 estimates and 2024 projections. The U.S. has the highest economic growth with +2.5% in 2023 and +2.1% expected in 2024. Among G7 nations, Germany has the least expected growth with -0.3% in 2023 and +0.5% in 2024.The United States economy grew faster than any other large advanced economy last year — by a wide margin — and is on track to do so again in 2024.
Why it matters: America's outperformance is rooted in its distinctive structural strengths, policy choices, and some luck. It reflects a fundamental resilience in the world's largest economy that is easy to overlook amid the nation's problems.
By the numbers: U.S. GDP looks to have grown 2.5% in 2023, according to the IMF's hot-off-the-presses World Economic Outlook, the highest among the G7 economies (Japan was second at 1.9%).
- IMF economists forecast similarly best-in-class growth this year, with 2.1% U.S. growth (second place: Canada at 1.4%)
- Strong growth in the U.S. labor force was one factor — both due to more Americans choosing to enter the workforce and a surge in immigration.
- The U.S. also experienced strong productivity growth fueled by an innovative corporate sector and, Biden administration officials argue, big federal investments in infrastructure and manufacturing capacity.
HacklemanPoke
Deputy
Not only that it’s the sectors where this growth is occurring.
After HUGE US 4th Qtr Growth and a Massive WIN on Jobs report for January...comes this piece of news
China’s blue-chip CSI 300 index also fell by 4.6%. The country’s economy faces challenges such as a record downturn in the real estate market, high youth unemployment, deflation, and a falling birthrate.
The International Monetary Fund expects China’s GDP growth to slow to 4.6% in 2024 and further decline to about 3.5% in 2028.
The liquidation of Evergrande, a major property developer, raised concerns about the future of similar companies.
Diana Choyleva, chief economist for Enodo Economics, said, “These policies indicate that healthier developers can therefore expect increased funding this year, while those struggling to clear their debts will likely go the way of Evergrande.”
Despite attempts to boost confidence through policy measures, investors remain worried about China’s economic trajectory.
Bank of America analysts wrote in a statement, “There seems to be no policy guidance or initiatives so far on how to ‘promote growth.’”
In contrast, India’s stock market has seen significant growth, reflecting the potential of its fast-growing economy.
Chinese stocks are melting down again after worst week in years
Chinese stocks experienced a significant downturn, with the Shanghai Composite index falling by 6.2% and the Shenzhen Component index dropping by 8.1%.China’s blue-chip CSI 300 index also fell by 4.6%. The country’s economy faces challenges such as a record downturn in the real estate market, high youth unemployment, deflation, and a falling birthrate.
The International Monetary Fund expects China’s GDP growth to slow to 4.6% in 2024 and further decline to about 3.5% in 2028.
The liquidation of Evergrande, a major property developer, raised concerns about the future of similar companies.
Diana Choyleva, chief economist for Enodo Economics, said, “These policies indicate that healthier developers can therefore expect increased funding this year, while those struggling to clear their debts will likely go the way of Evergrande.”
Despite attempts to boost confidence through policy measures, investors remain worried about China’s economic trajectory.
Bank of America analysts wrote in a statement, “There seems to be no policy guidance or initiatives so far on how to ‘promote growth.’”
In contrast, India’s stock market has seen significant growth, reflecting the potential of its fast-growing economy.
PF5
Deputy
Optimism about the U.S. economy sends stocks to a new record npr
Stocks are on a record-setting run.
For the first time in history, the S&P 500, the broad-based U.S. index of the largest and best-known companies in the world, is above 5,000.
The S&P 500 opened over the milestone mark at the opening bell on Friday. This comes a day after it touched the level for a brief moment before settling lower.
"Investors are feeling optimistic that we have sidestepped a recession," says Sam Stovall, the chief investment strategist at the financial research firm CFRA.
The latest economic data seem to indicate the Federal Reserve is getting close to executing a so-called "soft landing" for the U.S. economy. That's despite widespread fears of a recession last year, when the Fed raised interest rates aggressively to fight high inflation.
...
Investors believe policymakers are comfortable enough with the progress they've made and will soon start cutting interest rates.
That would juice the economy because it would make it less expensive for everyone — companies included — to borrow money, and investors would also feel more comfortable making riskier bets.
Beyond that, hundreds of companies have updated Wall Street in recent days on their financial performance, and many of them performed better in the final three months of 2023 than analysts expected.
...
Last year, a group of stocks nicknamed "The Magnificent Seven" accounted for most of the broader market's gains, and most of those well-known companies — Alphabet, Amazon, Apple, Meta, Microsoft, Nvidia and Tesla — have continued to outperform.
...
Stocks are on a record-setting run.
For the first time in history, the S&P 500, the broad-based U.S. index of the largest and best-known companies in the world, is above 5,000.
The S&P 500 opened over the milestone mark at the opening bell on Friday. This comes a day after it touched the level for a brief moment before settling lower.
"Investors are feeling optimistic that we have sidestepped a recession," says Sam Stovall, the chief investment strategist at the financial research firm CFRA.
The latest economic data seem to indicate the Federal Reserve is getting close to executing a so-called "soft landing" for the U.S. economy. That's despite widespread fears of a recession last year, when the Fed raised interest rates aggressively to fight high inflation.
...
Investors believe policymakers are comfortable enough with the progress they've made and will soon start cutting interest rates.
That would juice the economy because it would make it less expensive for everyone — companies included — to borrow money, and investors would also feel more comfortable making riskier bets.
Beyond that, hundreds of companies have updated Wall Street in recent days on their financial performance, and many of them performed better in the final three months of 2023 than analysts expected.
...
Last year, a group of stocks nicknamed "The Magnificent Seven" accounted for most of the broader market's gains, and most of those well-known companies — Alphabet, Amazon, Apple, Meta, Microsoft, Nvidia and Tesla — have continued to outperform.
...
PF5
Deputy
Violent crime is dropping fast in the U.S. — even if Americans don't believe it NPR
In 2020, the United States experienced one of its most dangerous years in decades.
The number of murders across the country surged by nearly 30% between 2019 and 2020, according to FBI statistics. The overall violent crime rate, which includes murder, assault, robbery and rape, inched up around 5% in the same period.
But in 2023, crime in America looked very different.
"At some point in 2022 — at the end of 2022 or through 2023 — there was just a tipping point where violence started to fall and it just continued to fall," said Jeff Asher, a crime analyst and co-founder of AH Datalytics.
In cities big and small, from both coasts, violence has dropped.
"The national picture shows that murder is falling. We have data from over 200 cities showing a 12.2% decline ... in 2023 relative to 2022," Asher said, citing his own analysis of public data. He found instances of rape, robbery and aggravated assault were all down too.
Yet when you ask people about crime in the country, the perception is it's getting a lot worse.
A Gallup poll released in November found 77% of Americans believed there was more crime in the country than the year before. And 63% felt there was either a "very" or "extremely" serious crime problem — the highest in the poll's history going back to 2000.
...
There are some outliers to this trend — murder rates are up in Washington, D.C., Memphis and Seattle, for example — and some nonviolent crimes like car theft are up in certain cities. But the national trend on violence is clear.
...
"We've seen two years now of crime incrementally going down, which I think is enough to say there's a positive trend there," said Andy Mannix, a crime and policing reporter for the Star Tribune in Minneapolis.
Rachel Swan, a breaking news and enterprise reporter for the San Francisco Chronicle, says there are "two really visible crises" in the downtown area: homelessness and open-air drug use.
"And honestly, people conflate that with crime, with street safety," she said. "One thing I'm starting to learn in reporting on public safety is that you can put numbers in front of people all day, and numbers just don't speak to people the way narrative does."
In Baltimore — a city that's battled a perception of being dangerous — it's a similar story.
Lee Sanderlin is an enterprise reporter with The Baltimore Banner and says there are pockets of violent crime — but that's not the case for the entire city.
"That's a battle that the city's leaders have had to fight with certain media outlets, with residents," Sanderlin said. "People who don't live in Baltimore, who live out in Baltimore County or neighboring counties, they certainly have a perception."
...
Asher, the crime analyst, says there is no one reason why violent crime is going down.
"It's a really hard question to answer, and I always caveat my answer with [saying that] criminologists still aren't sure why violent crime went down in the '90s," he said. "We can kind of point to what some of the ingredients probably are even if we can't take the cake and tell you what the exact recipe is."
...
In 2020, the United States experienced one of its most dangerous years in decades.
The number of murders across the country surged by nearly 30% between 2019 and 2020, according to FBI statistics. The overall violent crime rate, which includes murder, assault, robbery and rape, inched up around 5% in the same period.
But in 2023, crime in America looked very different.
"At some point in 2022 — at the end of 2022 or through 2023 — there was just a tipping point where violence started to fall and it just continued to fall," said Jeff Asher, a crime analyst and co-founder of AH Datalytics.
In cities big and small, from both coasts, violence has dropped.
"The national picture shows that murder is falling. We have data from over 200 cities showing a 12.2% decline ... in 2023 relative to 2022," Asher said, citing his own analysis of public data. He found instances of rape, robbery and aggravated assault were all down too.
Yet when you ask people about crime in the country, the perception is it's getting a lot worse.
A Gallup poll released in November found 77% of Americans believed there was more crime in the country than the year before. And 63% felt there was either a "very" or "extremely" serious crime problem — the highest in the poll's history going back to 2000.
...
There are some outliers to this trend — murder rates are up in Washington, D.C., Memphis and Seattle, for example — and some nonviolent crimes like car theft are up in certain cities. But the national trend on violence is clear.
...
"We've seen two years now of crime incrementally going down, which I think is enough to say there's a positive trend there," said Andy Mannix, a crime and policing reporter for the Star Tribune in Minneapolis.
Rachel Swan, a breaking news and enterprise reporter for the San Francisco Chronicle, says there are "two really visible crises" in the downtown area: homelessness and open-air drug use.
"And honestly, people conflate that with crime, with street safety," she said. "One thing I'm starting to learn in reporting on public safety is that you can put numbers in front of people all day, and numbers just don't speak to people the way narrative does."
In Baltimore — a city that's battled a perception of being dangerous — it's a similar story.
Lee Sanderlin is an enterprise reporter with The Baltimore Banner and says there are pockets of violent crime — but that's not the case for the entire city.
"That's a battle that the city's leaders have had to fight with certain media outlets, with residents," Sanderlin said. "People who don't live in Baltimore, who live out in Baltimore County or neighboring counties, they certainly have a perception."
...
Asher, the crime analyst, says there is no one reason why violent crime is going down.
"It's a really hard question to answer, and I always caveat my answer with [saying that] criminologists still aren't sure why violent crime went down in the '90s," he said. "We can kind of point to what some of the ingredients probably are even if we can't take the cake and tell you what the exact recipe is."
...
