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Sunday, December 29, 2024

Will the US fabricate its GDP growth for 2024?

An alarming figure is showing that the US is not growing well for 2024.

A country that grows well won't have close to 20% increase in homelessness from the previous year.  This type of increment only shows that the US economic growth is not doing well because a good economic growth will reduce poverty.

Normally, a good economic growth will boost house prices and rentals, employment and wages.  When there is an increase in homelessness, this means that employment and wages are not increasing faster than house prices and rentals.  Thus, this phenomenon is causing homelessness to increase as housing and rental affordability is declining at a fast pace.

This is increasingly looking like a stagflation whereby inflation is outpacing economic growth.

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