Re:U.S. GDP grew at a 4.9% annual pace in the third quarter,...
by lamontcg on Thursday October 26, 2023 @12:02PM
(#38027498)
It isn't government spending. We're just seeing the result of corporations successfully capturing all the post-pandemic money that was floating around which is propping up GDP numbers.
Once the consumer buckles and spending drops then the GDP should drop, pulling the US into a recession, that should cause rounds of severe across-the-board layoffs (not just isolated to tech) which then cause housing to buckle. And at some point commercial real estate should detonate as the loans there hit their maturity dates and roll over.
The higher interest rates haven't had time to dig into corporations yet, but the consumer really is faltering (e.g: https://www.forbes.com/sites/antoniopequenoiv/2023/10/21/ame...)
Once the consumer buckles and spending drops then the GDP should drop, pulling the US into a recession, that should cause rounds of severe across-the-board layoffs (not just isolated to tech) which then cause housing to buckle. And at some point commercial real estate should detonate as the loans there hit their maturity dates and roll over.