2Q18 GDP Now Estimated At 4.0 Percent -- May 14, 2018

Latest forecast: 4.0 percent — May 9, 2018, link here:

The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the second quarter of 2018 is 4.0 percent on May 9, unchanged from May 3. 

The nowcasts of second-quarter real consumer spending growth and second-quarter real private fixed investment growth inched down from 3.1 percent and 5.6 percent, respectively, to 3.0 percent and 5.4 percent, respectively, after Friday's employment report from the U.S. Bureau of Labor Statistics.

The nowcast of the contribution of inventory investment to second-quarter real GDP growth increased from 0.67 percentage points to 0.78 percentage points after this morning's wholesale trade release from the U.S. Census Bureau.

Numbers like this could certainly impact the November elections.

More on this later; family commitments now.

********************************

Cryptocurrency

It took me awhile, but I finally understand cryptocurrency. I thought it was a scam. Nope. I'm a "believer" now.

This part of cryptocurrency I don't yet understand but will sort it out later.

Link. Link.

By the way, for those who missed it, the general consensus is that McDonald's will start taking "Bitcoin" by the end of the year (2018). With the new kiosk ordering, I can see how McDonald's could do that fairly easily.