Economy Roars: 3.4% Growth, Consumers Spending

The Commerce Department says the economy grew at a 3.4% annual rate from July through September, up from 2.2% in the second quarter and ahead of the 3.1% Wall Street was betting on, per CNBC as cited by Just the News. Consumer spending ran at 3.8%, and business equipment investment jumped 20.9%, led by computers. Breitbart notes part of the government spending bump was an accounting effect from selling less oil out of the Strategic Petroleum Reserve. I'm not yelling. This is just how loud common sense sounds now. The forecasters missed again, and I didn't fall off the turnip truck: the people who say the economy runs on Washington's good intentions are the same ones who can't predict it. Folks buying things and businesses buying equipment did the heavy lifting. Funny how that works.