Where has all the GDP gone? Not to wages.
As expected, Q3 Real GDP was revised upwards to 5.2% annualized. Of course, this shatters JKP’s talking points that Biden inherited a train wreck of an economy from Trump. Q3 2020 Real GDP grew at over 30%.
![](https://confoundedinterestnet.files.wordpress.com/2023/11/realgdp112923.png?w=802)
And on a year-over-year (YoY) basis, US real GDP grew at 3.0% in Q3. Unfortunately, real hourly compensation grew at a measly 0.6% YoY.
![](https://confoundedinterestnet.files.wordpress.com/2023/11/realgdphour.png?w=1024)
Meanwhile, home prices have hit an all-time high. Too bad real wages are so low.
![](https://confoundedinterestnet.files.wordpress.com/2023/11/csnm2.png?w=1024)
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