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Government Spending Is Out of Control! LOL

The Big Picture

Let’s delve into a case in point of Coase’s theorem: If you wanted to peddle the narrative that government spending is out of control, you might present a chart like the one above, which is an exact replica of a chart that appeared recently in a piece of research from a major Wall St. investment firm. How can this be?

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Q4 GDP Growth Revised up to 2.4% Annual Rate

Calculated Risk

Bureau of Economic Analysis. The increase in real GDP in the fourth quarter primarily reflected increases in consumer spending and government spending that were partly offset by a decrease in investment. percent in the fourth quarter of 2024 (October, November, and December), according to the third estimate released by the U.S.

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MiB: Philipp Carlsson-Szlezak, Global Chief Economist for BCG

The Big Picture

Prior to this role at BCG, Philipp advised financial institutions and governments at the Organization for Economic Co-operation and Development (OECD) as well as McKinsey & Company. He is a frequent contributor to Harvard Business Review and World Economic Forum. He was also Chief Economist at Stanford C.

Economics 162
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Schedule for Week of March 2, 2025

Calculated Risk

Fed Chair Powell speaks on the economic outlook on Friday. -- Monday, March 3rd -- 10:00 AM: ISM Manufacturing Index for February. This report is for private payrolls only (no government). 12:30 PM: Speech, Fed Chair Jerome Powell , Economic Outlook , At The University of Chicago Booth School of Business 2025 U.S. in January.

Sales 162
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Q4 GDP Growth Unrevised at 2.3% Annual Rate

Calculated Risk

Bureau of Economic Analysis. The increase in real GDP in the fourth quarter primarily reflected increases in consumer spending and government spending that were partly offset by a decrease in investment. percent in the fourth quarter of 2024 (October, November, and December), according to the second estimate released by the U.S.

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BEA: Real GDP increased at 2.8% Annualized Rate in Q3

Calculated Risk

Bureau of Economic Analysis. The increase in real GDP primarily reflected increases in consumer spending, exports, and federal government spending. The increase in federal government spending was led by defense spending. percent in the third quarter of 2024 , according to the "advance" estimate released by the U.S.

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Sunday links: civic capital

Abnormal Returns

nytimes.com) DOGE Elon Musk has been plotting the destruction of the federal government for awhile now. propublica.org) DOGE laid off the GSA's 18F team which works to make government systems work better. agglomerations.substack.com) The economic schedule for the coming week.