The US economy is a mix of capitalism and socialism. There is freedom of choice and consumer sovereignty. The US does not have a free market economy because there is regulation and control of specific industries by the government.
| Actually Looking Good: December 2024 |
|---|
| Gross Product: In the third quarter of 2024, real GDP increased at an annual rate of 2.8–3.1%, thanks to consumer spending, exports, private investment, and federal government spending. |
| Jobs: In November, the US added 227,000 jobs, rebounding from a slowdown in October. In February, the US added over 275,000 jobs, which was well above expectations. |
| Inflation: is slowing from its peak, and annual inflation is approaching the Federal Reserve’s target. |
| Manufacturing: investment in manufacturing is at record levels. |
| Exports: as of October 2024, the United States trade balance is a deficit of $73.8 billion. This is a decrease of $10 billion from the previous month. The US is a net exporter of petroleum products. |
| Foreign Investment: the US has become the largest destination for foreign direct investment. |
| Housing: November 2024 Single-family housing starts: 1,011,000, a 6.4% increase from the previous October |
| Population: The U.S. population reached 340.1 million, up 0.98% from 336.8 million on July 1, 2023 — the highest year-over-year increase since a jump of 0.99% between 2000 and 2001. |
Opinion Section and Modest Predictions
- The two egos are doomed for a long term relationship. The question is which one drops first. Musk would love to remove regulations that hinder his activities, especially with SpaceX. But can he keep it together and the comments filtered? Trump is not going to want to share the limelight for much longer.
- There are going to be some serious , hopefully not fatal, screw-ups. We are already seeing how this will happen with the House almost stuck with a government shutdown.
- The 77 million people who voted for trump will start peeling away as they see and feel the chaos of the Trump / Project 2025 efforts to reshape the country. This will start to free up the locked in representatives in Congress to finally speak up.
- The economy that Trump inherits is working, but he feels the need to call it a disaster. So, he has to make changes to save face – not to benefit the country.