10/27/22: Another Herschel Walker Accuser as GDP Grows
The David Pakman Show
David Pakman
4.8 β’ 6.2K Ratings
ποΈ 27 October 2022
β±οΈ 64 minutes
ποΈ Recording | iTunes | RSS
π§ΎοΈ Download transcript
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| 0:00.0 | I want to start today with some genuinely good economic news and the news itself is a |
| 0:22.9 | very small data point, but there's a bigger story here and it's the story first and |
| 0:27.5 | foremost about how is the economy doing right now? |
| 0:31.4 | That gets us to what will the impact of the economy be on the midterms if people |
| 0:37.8 | accurately understand the state of the economy because it's about the perception of the economy |
| 0:42.9 | more than the economy itself that affects how people vote. |
| 0:46.4 | And then the bigger conversation, which I think continues to be a very interesting one |
| 0:50.5 | is what in general can we say about the state of the American economy when there's a |
| 0:56.9 | Democrat in the White House versus when there's a Republican in the White House. |
| 1:00.4 | So come along for the journey. |
| 1:01.9 | Let's, you know, rather than starting at 30,000 feet and getting down to the runway, excuse |
| 1:07.5 | the analogy, let's start at the base and then get up to 30,000 feet. |
| 1:12.3 | So economic news, good news. |
| 1:14.4 | GDP has accelerated in the United States at 2.6% in the third quarter. |
| 1:20.3 | We just got these numbers and remember the third quarter is July, August, September. |
| 1:25.7 | And we get those numbers at the end of the following month, which is now the end of October. |
| 1:31.5 | Expectation for GDP growth was 2.3%. |
| 1:35.8 | The actual number was 2.6%. |
| 1:38.6 | So having an increase rather than a decrease by standard economic metrics where we want |
| 1:44.5 | indefinite growth, I know it's good to have GDP growth. |
| 1:49.0 | And then when it is better than the expectation, then it is considered even better. |
| 1:52.8 | And indeed, the stock market is reacting to this quite favorably as of this particular |
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