Good morning.
Thursday in Whitewater will be sunny with a high of 92. Sunrise is 5:41 AM and sunset 8:20 PM for 14h 38m 55s of daytime. The moon is a waxing gibbous with 67.3% of its visible disk illuminated.
On this day in 1940, the animated short A Wild Hare is released, introducing the character of Bugs Bunny.
National economic growth is no assurance of Whitewater’s local prosperity (as it has not been, after all, this last decade), but national growth provides, at least, the prospect of local growth.
Indeed, in Whitewater, years of national growth did not produce local prosperity. Fumbling by Whitewater’s tiny landlord-banker-public-relations-lobbyist cohort kept Whitewater behind while America advanced. See Whitewater’s Still Waiting for That Boom and A Candid Admission from the Whitewater CDA.
Still, there’s no likely scenario where Whitewater grows while America does not. And so, and so, it’s favorable locally that the U.S. Economy Grew at 2.4% Rate in Second Quarter:
The economic recovery gained momentum in the spring as buoyant consumer spending and resurgent business investment helped, once again, to keep a recession at bay.
Gross domestic product, adjusted for inflation, rose at a 2.4 percent annual rate in the second quarter, the Commerce Department said Thursday. That was up from a 2 percent growth rate in the first three months of the year and far stronger than forecasters expected a few months ago.
Consumers led the way, as they have throughout the recovery from the severe but short-lived pandemic recession in 2020. Spending rose at a 1.6 percent rate, slower than in the first quarter but still solid. Much of that growth came from spending on services, as consumers shelled out for vacation travel, restaurant meals and Taylor Swift tickets.
Consumers didn’t carry all the weight, however. Business investment rebounded in the second quarter after slumping in the first three months of the year, and increased spending by state and local governments contributed to growth.
“If you’re looking for a working definition of ‘resilient,’ look no further than the American economy,” said Joseph Brusuelas, chief economist at RSM.
Ring of fire encircles Mediterranean amid record breaking heatwave: