Yesterday I compared real private GDP in cycles.
Today I would like to look at real business fixed investment.
If you listened to CNBC — otherwise known as the Republican Propaganda Channel — or the campaign claims you would think that all the uncertainty created by Obama was destroying business confidence and that real business fixed investment was collapsing.
But the data shows a different story. Three years from the economic bottom real business fixed investment is up some 18.0%, or about the same as during the Clinton years. In contrast, during the
“Bush Investment lead Boom” it was up only up 6.9%, or about a third of the current cyclical rise.
(Update…slightly edited for readability…Dan)