Dec. 23 at 2:42 PM
$GLD $JNUG $SLV $B $GDX
US Q3 GDP: +4.3% vs 3.3% exp.
How much of this growth is real income gains versus deficit spending? What are we all pretending not to know here? But if this creates a pullback, I'll take
The Q3 GDP upside appears driven largely by trade & accounting effects rather than broad-based real income gains. Import compression boosts headline GDP, but w/out corresponding productivity or wage growth, it’s "questionable" how much of this reflects sustainable economic expansion versus deficit-financed demand. GDP can rise w/out genuine prosperity. The key issue is income, productivity, & private-sector balance sheets not the GDP print itself
If Q3 GDP beat expectations because imports dropped sharply, that can happen under tariffs. So tariffs can inflate headline GDP, but they don’t guarantee sustainable growth. . If there is someone smart enough to sell it, gosh darn it, there seems to be a way to find someone dumb enough to buy. The gaping hole in this "reality"
