Any economic numbers that we receive between now and Election Day cannot be trusted. We recently got the latest numbers from the GDP (Gross Domestic Product), which is the sum of all economic activities in the United States. The first two quarters were negative, and the definition of a Recession is two negative quarters in a row. However, this Administration insists on changing that definition to fit their narrative. All indications were that we just underwent a third consecutive negative quarter, but now we have been told that the GDP allegedly rose 2.6% in the third quarter. Clearly, the economy has not been improving, which makes this recent announcement fairly comical.
So what is the truth regarding the current status of our economy? Host Lou Scatigna, CFP® talks about that and much more in this segment from The Financial Physician.