Nowcast: "The GDPNow model forecast for real GDP growth (seasonally adjusted annual rate) in the fourth quarter of 2015 is 1.9 percent on November 2, down from 2.5 percent on October 30. Following this morning's Manufacturing ISM Report On Business, the forecast for fourth-quarter real consumer spending growth declined from 2.9 percent to 2.4 percent while the forecast for real equipment investment growth declined from 3.9 percent to 1.3 percent."
Growth is coming from migration, not productivity. And a third of that growth is Obamacare inflation and will be revised down. But what's the point of the Kanosian policies if migrants have to pay for them?
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