Harmful Headwinds

Student loans began accruing interest on 9/1/23 and loan payments are due starting 10/1/23, clipping GDP by one-fifth of a point. Additionally, the odds of a 10/1/23 government closure are rising, and that would knock off an astounding one-fifth of point of GDP/week. Lastly, it’s increasingly likely that the UAW will simultaneously strike Ford, G.M., and Stellantis on 9/15/23 with an immediate GDP hit of $500 million/day. A collective calamity.