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Gross Domestic Income Shows America Is in Stagnation

Gross Domestic Income Shows America Is in Stagnation
Scientists who work for California picketed outside of the California Environmental Protection Agency building on the second day of a three-day strike as they seek higher wages in Sacramento, Calif., on Nov. 16, 2023. Sophie Austin/AP Photo
Daniel Lacalle
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Commentary

In a recent CNN poll, 48 percent of respondents stated that they believe the economy remains in a downturn, and only 35 percent said that things in the country today are going well. The disparity between somber economic sentiment and a surprisingly strong headline unemployment rate and gross domestic product (GDP) can be easily explained.

Daniel Lacalle
Daniel Lacalle
Author
Daniel Lacalle, Ph.D., is chief economist at hedge fund Tressis and author of the bestselling books “Freedom or Equality” (2020), “Escape from the Central Bank Trap” (2017), “The Energy World Is Flat”​ (2015), and “Life in the Financial Markets.”