Posted on 05/26/2022 6:58:34 AM PDT by Browns Ultra Fan
Today’s US Real GDP was worse than economists expected.
US Real GDP Annualized QoQ printed at -1.5%. And GDP prices QoQ printed at 8.1%, also higher than expected.
At least Personal Consumption printed higher than expected at 3.1%.
Import prices (goods) led the way at 20.9%. Part of Biden’s brilliant strategy of reducing domestic oil production and import expensive energy from overseas?
Consumers are spending more, but the personal savings rate is down to the lowest level since 2013 at 6.2% as consumers try to cope with inflation.
(Excerpt) Read more at confoundedinterest.net ...
“Biden and Dems better cheat like hell if they want to win the midterm eleections.”
I’m just guessing, but I am not sure they can cheat enough to completely stop the bleeding. But be assured, they will cheat their butts off, and the losses won’t be as dramatic as they should be.
Honey, I Shrank The Economy!
Next we’ll be hearing about “Americans have gotten addicted to economic growth.”
No problemo.
One difference between 2022 elections and 2020 Presidential election is they only needed to steal a few cities then. Now, it is locales all across the USA, and who knows which ones they are? I don’t think the Rats necessarily know. This election may be a complete shock, given how chaotic the country is. Inflation and crime appear to be the big story now, but anything can happen by November.
Not worse than WE expected.
How much of the personal consumption data are inflated by inflation?
Q1 2022 was strongly negative at -1.5 GDP, right?
There is absolutely NOTHING HAPPENING in April and May 2022 that shows a change from -1.4% in Q1 to +1.5% (or higher) in Q2, right?
So, WHY are the NY and Washington “economists” “forecasting” a “positive” economic growth for Q2 of 2022?
Two quarters of negative GDP is the signal for a recession, and obviously a recession a year-and-a-half into Biden’s term is clearly Trump’s fault, so why should there not be a recession now? 10-14% real inflation with food, housing, and energy costs rising - though not counted in the 8% inflation rate. What’s not to like about a real recession that can be hidden by a single quarter’s pretend growth rate?
10,000 mules this time, in specific contested congressional districts. I figure they’ll pick up about ten seats and increase their majority. I hope I’m wrong of course. Probably another seat or two in the Senate also. These are very dark times. Pray!
Nothing distracts people from a bad economy like a war does. Biden’s handlers are certainly aware of that.
Mr Market is saying that the Fed is not serious about fighting inflation, as shown by the Fed Funds futures.
EXACTLY...when costs are increased...doesnt that make “consumption” look increased also?
“...anything can happen by November.”
True...so that’s good AND bad.
With all that ground to cover, Liberals will have a lot of wiggle room when they get caught cheating, again. It gives them so many ways to spin the story
Many people are purchasing items now because they know tomorrow their money will have lost value.
Agree. It won’t take much to get the Fed to soften its “resolve” to fight inflation.
After all, inflation is not the threat to wealthy the way it is to those who are less fortunate.
Too many dollars chasing too few goods. That can only last until all the shelves are empty. And I'm seeing more and more empty shelves every time I go shopping.
It’s not consumption it’s HOARDING that is going on right now.
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