The nation’s economy expanded at a robust 4.9% annual rate from July through September as Americans defied higher prices, rising interest rates and widespread forecasts of a recession to spend at a brisk pace.
The Commerce Department said the economy expanded last quarter at the fastest pace in nearly two years — and more than twice the 2.1% annual rate of the previous quarter.
Thursday’s report on the nation’s gross domestic product — the economy’s total output of goods and services — showed that consumers drove the acceleration, ramping up their spending on everything from cars to restaurant meals. Even though the painful inflation of the past two years has soured many people’s view of the economy, millions have remained willing to splurge on vacations, concert tickets and sports events.
K, why is it $9 for a box of Raisin Bran Crunch?
You gotta pump that economy, one box of Raisin Bran at a time!
I used to buy 3 boxes at a time, and now I just eat gruel.
because that stuff is actually mostly cocaine
Because people are willing to pay it. Because they have the money to. When the economy is “hot” prices go up.
They also seem to go up when the economy is “cold”… it’s like the game is rigged or something.