Warren Buffett’s concept to significantly reduce USA’s trade deficit.
I’m a proponent of a proposal that was introduced to the Senate in 2006. Trade deficits are always detrimental to a nation’s GDP. Trade deficit’s detriment to the GDP exceeds the amount of the deficit itself. The GDP bolsters the median wage.
Q3 GDP 2010 was revised upward to 2.5% from 2.0%, a significant revision for gross domestic product. Real final sales, a measure of real demand in the economy, was 1.2%. Here is the actual report and here is the BEA press release.
Q2 2010 GDP was revised significantly down, to 1.6%. The advance report on Q2 2010 GDP was 2.4%. Here is the actual revised GDP report. That is an 0.8 percentage point revision, or one third lower GDP than the advance report.
Q2 2010 GDP, advance report, came in at 2.4%. Here is the actual report.
There is a huge discrepancy in the news release. Q1 2010 GDP, final was 2.7%. Now they have revised Q1 2010 to 3.7%, an entire percentage point! With revisions like that, in the first paragraph, the report details below are analyzed, with no warranty, as is, from the report.
A 2nd estimate of Q1 2010 GDP was released Friday and the advanced report is 3.0%. Here is the Q1 2010 advance GDP estimate, where GDP was reported 3.2%. From the 2nd revision report, consumer spending (PCE) dropped from it's initial estimate and the trade deficit widened.
A 1st estimate of Q1 2010 GDP was released Friday and the advanced report is 3.2%. Here is the Q4 2009 GDP estimate. In the initial report, consumer spending (PCE) more than doubled in it's GDP contribution from Q4 2009.
Recent comments