ECONOMY BETTER THAN GDP SUGGESTS.

When one hears about the GDP, the country seems to be barely limping along.  But all or nearly all other news seems to be optimistic.  Earlier this month, for example, I posted a piece on how a large number of CEO's are optimistic about the next year and another large group say they think it will be about the same.*  More recently I have seen another optimistic statement.**

U.S. consumers are also the healthiest they've been in 10 years, he noted, with rising wages, a declining unemployment rate and bank loans growing. *.
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Meanwhile, JPMorgan Funds chief global strategist David Kelly thinks the U.S. stock market can still go up in the short run.  ......
 I think the U.S. economy is going to gradually overheat here."

What's this, rising wages, decreasing unemployment, bank loans going up?  Also the stock market is still going up?  Sounds optimistic to me.  Some even say we are entering an economic bubble.  There may be two problems however.  One is the large amount of inventories on hand, especially in the petroleum industry, and the other is a lack of fixed investment in the U.S.***  In spite of all the optimistic news, it seems like CEO's and their Boards are hesitant to invest in fixed investments (new plant and equipment).  I guess industry is able to feed the voracious consumers with existing fixed investments what with cheap labor overseas and automation at home.  If this remarkable economic recovery from a near-death economic recession isn't able to get industry to expand in the U.S., what will?  It is as if industry is on strike for lowering the corporate tax rate, even though few corporations pay the full rate.  Not very patriotic.

* http://stopcontinentaldrift.blogspot.com/2016/08/ceos-optimistic-about-next-year.html
** http://www.cnbc.com/2016/08/15/with-market-highs-heres-where-experts-are-putting-their-money.html
*** http://stopcontinentaldrift.blogspot.com/2016/08/new-analysis-of-gdp.html