American Economic Scorecard

Chris examines America's economic performance in 2024, comparing it to 37 of the wealthiest nations using metrics like GDP growth, stock market performance, inflation, unemployment changes, and government deficits. Despite strong stock market gains and GDP growth, the U.S. ranked 20th overall, with concerning marks in inflation and deficit growth. Markowski questions why, with so many natural advantages, the U.S. isn't leading the pack. www.watchdogonwallstreet.com

Episode Transcript

Speaker 1 (00:00):
The Watchdog on Wall Street podcast explaining the news coming
out of the complex worlds of finance, economics, and politics
and the impact it we'll have on everyday Americans. Author,
investment banker, consumer advocate, analyst, and trader Chris Markowski.

Speaker 2 (00:16):
American Economic Scorecard. Yeah, Bill Parcell's great line, you are
what your record says you are. Will Let's let's take
a look at twenty twenty four, shall we.

Speaker 1 (00:33):
Ah.

Speaker 2 (00:34):
The Economist put out a basic, well, a measuring stick
for the thirty seven wealthiest countries in the world. Now,
this scorecard, if you will, combined gross domestic product growth.

(00:56):
It basically did it for a fiscal year September thirtieth,
twenty thirty three to September thirtieth, twenty twenty four, stock
market performance over that year, core inflation as of November
twenty fourth change and unemployment rate in the year, and

(01:18):
government deficits. So they ranked US compared to thirty seven
other mostly rich countries, and then ranked each economy based
on its performance to create a combined store. The number
one country was Spain. Spain. Ireland came in second, Greece

(01:40):
and Denmark were tied for third. We were twentieth we
were twentieth. Overall, let's go through the numbers. Okay, we
were ninth ninth among the thirty seven countries in GDP,
fourth and stock market performance, twenty third in inflation, twenty ninth,

(02:07):
in change in employment right now again twenty ninth and
change in employment rate. We've had fairly low, fairly low
unemployment based upon the numbers that they're using. However, again
we all know that the real numbers are something completely different.
And again I don't know if they went back and
they redid these numbers based upon the all of the

(02:31):
calculations that have been changed over that period of time,
the revisions, it's gonna look much worse. We were thirty first. Again,
the United States are thirty first in estimated deficit growth
because obviously compared to GDP, what does that mean. Well,

(02:54):
you know, the American workers country were very productive, there's
no doubt about that. At stock market had a great year.
Inflation wasn't as bad as it was prior, but prices
are still going up. Government spends way too much money.

(03:17):
And you know, even though I'll say that these numbers
might be skewed a little bit on the unemployment because
you know, again we have low unemployment to begin with.
Our GDP numbers wouldn't be nearly as high if it
wasn't for all of this deficit spending. So all in all,

(03:37):
not a very good scorecard. That was it? What was it?
That was? Couple days ago? They call it black Monday?
Black Monday for the NFL, you know, the first day
after the last regular season game, and coaches are getting fired.
Coaches are getting fired, gms are getting fired. We bringing

(03:59):
the quarterback that makes you all this stuff. Okay, if
your team was twentieth out of thirty seven, you'd definitely
be clamoring for some changes, especially with all the advantages
we have. And I'll use sports parlence again, why not?
You know, we have advantages that these other countries do

(04:22):
not have based upon the natural resources that we have.
I mean, it can make a long list, make a
long list we have. There's no excuse for us not
to be among the top countries in the world every

(04:42):
single year. So yeah, yeah, yeah, you'd be looking to
get rid of people, but we just did. It was
an election year and I don't care what Biden and
his cronies are saying about how wonderful the economy has
you know is in the pundits on TV again. You

(05:03):
are what your record says you are. Watch dog on
Wall Street dot com,