Well, howdy there, Internet people, it spell again.

So today, we're going to talk about the GDP minus data centers and what it means for the Trump

economy.

Even though we aren't getting government economic reports right now, and that is certainly

helping Trump attempt to tell

Americans everything is okay. We're getting private data. And frankly, all the underlying data is bad.

The GDP and the stock market are chugging along, but the fundamental economic picture isn't great.

Now, we have an analysis that explains a bit about those widely used gauges.

To borrow a phrase from Rusty Foster,

our economy might just be three data centers in a trench coat.

So, the analysis by the Harvard economist Jason Furman does

something simple. It simply removes data centers from the GDP. When that's done,

everything else we've been seeing falls into place. The annualized GDP for the entire first

half of the year was just one-tenth of one percent.

That lines up with the fundamentals and with the stagflation worries that keep resurfacing.

But what about the stock market?

That's still doing fine, right?

Well, the stock market is being fueled by, you guessed it, tech stocks,

specifically those connected to AI. In other words, the same companies involved in the data centers.

Furman tweeted about his findings and summed it up with, quote,

investment in information processing equipment

and software is 4% of GDP, but it was responsible for 92% of GDP growth in the first half of this year.

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