USA Industrial Powerhouse?

[Dill]

(07-22-2023, 02:14 AM)NATI BENGALS Wrote: An almost 4x adjustment to quarterly GDP projections seems like a lot.

https://www.cnbc.com/2023/07/21/bidenomics-spurred-stronger-gdp-growth-morgan-stanley.html

As a result of these unexpected swells, Morgan Stanley now projects 1.9% GDP growth for the first half of this year. That’s nearly four times higher than the bank’s previous forecast of 0.5%.

“The economy in the first half of the year is growing much stronger than we had anticipated, putting a more comfortable cushion under our long-held soft landing view,” Zentner wrote.

The analysts also doubled their original estimate for GDP growth in the fourth quarter, to 1.3% from 0.6%. Looking into next year, they raised their forecast for real GDP in 2024 by a tenth of a percent, to 1.4%.

“The narrative behind the numbers tells the story of industrial strength in the U.S,” Zentner wrote.


I have concerns though.

People used to work life long union factory jobs when it meant they could retire and have a pension after busting their ass for 30+ years (mid 50s retirement).

I work in a factory now. I worry about our ability to find the willing, competent, and motivated workers needed for success.

We need to increase levels of immigration. The world is full of willing, competent, and motivated workers.

Do you have a union job?