Nominal GDP for 1Q2024 was revised down $28.6 billion in the second estimate today: What's the big picture?

 Nominal GDP came in at a revised $28.255 trillion.

Sounds like a lot, right?

Here's the big picture.

From 1947 to 2000, nominal GDP grew at a compound annual rate of 7.26%.

From 2000 to 2024, nominal GDP grew at a compound annual rate of 4.42%, 39% lower.

The year 2000 marks the US opening to China, and the great wealth transfer out of the US from the middle class under globalism, creating new middle classes there and elsewhere.

We are poorer for it, but we have lots more billionaires now and you can read all about it on your Apple iPhone made by slave labor while you eat your 40% more expensive hamburger from McDonalds since 2019.

Democrats simply hate big oil and are oblivious to the windfall profits of their pals in tech which dwarf those of the oil industry

 

For all you haters out there, here are the top 10 LGBT-friendly companies

Google

Microsoft

H E B

Lululemon

Deloitte

Bath & Body Works

Progressive Insurance

IBM

Walt Disney Co.

Apple

 

Story. 

He's making a list, checking it twice . . .

Attention jobless communist journalists, Apple has a message just for you: Learn to code

Our so-called friends the Chicoms installed spychips on thousands of servers used by Apple, Amazon and a host of others

The Big Hack: How China Used a Tiny Chip to Infiltrate U.S. Companies:

The chips had been inserted during the manufacturing process, two officials say, by operatives from a unit of the People’s Liberation Army. In Supermicro, China’s spies appear to have found a perfect conduit for what U.S. officials now describe as the most significant supply chain attack known to have been carried out against American companies.

FBI Director James Comey threw traditional marriage under the bus, so why not Apple?

Read about it here and here.

Ralph Peters (ahem) rips Tim Cook a new one (ahem) for being such a queen (double ahem)

There's gotta be at least four in-you-endos in there.

Sorry, I just couldn't resist.

Here:

"Tim Cook is acting like Hillary Clinton - above the law, better than the rest of us."

Would Apple unlock Hitler's phone?

Crony Socialism: Fed Profits On College Student Loans Rank Third Behind Exxon-Mobil And Apple!

Or is that socialist cronyism?

Anyway, those thirsty blood suckers in the federal government made $41.3 billion off the nation's college student loan program in fiscal 2013, according to the Detroit Free Press, here:

It’s a higher profit level than all but two companies in the world: Exxon Mobil cleared $44.9 billion in 2012, and Apple cleared $41.7 billion.

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That's not quite right, however.

In 2012 the profits thrown off from massive numbers of government bonds and mortgage backed securities "purchased" by the Federal Reserve and returned to the Treasury by the Fed were more than double that, as reported here last January:

The Federal Reserve sent a record $88.9 billion in profits to the Treasury Department in 2012 as it reaped gains from the unconventional programs it launched to spur economic growth.

Last year's remittance to Treasury topped the previous record of $79.3 billion in 2010, Fed records show.

American Businesses Have Saved $2.8 Trillion In Last Four Years Due To ZIRP

In the form of lower borrowing costs, according to this story from Bloomberg:

America’s companies, from Apple Inc. (AAPL) to Verizon Communications Inc., are saving about $700 billion in interest payments with the Federal Reserve’s unprecedented stimulus. ...

Savings of about $700 billion represents the difference between what companies that have sold bonds since Sept. 17, 2009, are paying annually based on an average maturity of nine years for securities in the Bank of America Merrill Lynch U.S. Corporate & High Yield Index, versus what they might have paid before the crisis.

After rising as high as 11.1 percent on Oct. 28, 2008, it wasn’t until Sept. 17, 2009 that yields fell below the pre-Lehman average of 6.14 percent, the Bank of America Merrill Lynch index shows.

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Just another reason corporate profits after taxes have skyrocketed to another record seasonally-adjusted annual rate of $1.83 trillion for Q2 2013.