[Kaiser8408a]

Biden, Pelosi and probably McCarthy will sink the US economy along with The Fed. Are there no friendlies in Washington DC???

[spokeshave]

Albert Collins said it best about the US economy under Joe Biden: “Lights Are On But Nobody’s Home”.

At least the Titanic went down with the lights on

Biden and his regime not so much.

[SaxxonWoods]

“US Real GDP Growth Forecast To Be Dismal 0.50% In 2023”

If correct, that’s not a recession, that’s a “soft landing”. Some other financial people are predicting that as well.

[Starboard]

Are there no friendlies in Washington DC???

*************

Its a club and we’re not in it.

[ConservativeInPA]

GDP figures are only propped up by massive government spending. November’s budget deficit was $249 billion, that’s government pumping nearly a quarter trillion dollars into the economy above and beyond the budget.

Quite honestly, we should evaluate how we gauge economic activity. GDP is a relic of Keynesian economics, which anyone with an ounce of intelligence and exposure to other schools of economic thought, knows does not work. To be explicit, GDP includes government spending, as if that is a product that government makes. Government rarely makes anything other than a mess. GDP double counts. Some government spending trickles down to business producing goods and services, thus GDP counts government spending when it occurs and then double counts when a business actually produces something using government dollars. Those government dollars, or better stated taxpayer dollars, are extremely inefficient. They are taken from your paycheck, sent to Washington, then rinsed through bureaucracy, and redistributed in even more inefficient and wasteful ways.

Bottom line: government does not produce a product. Government employees don’t build anything. They are an inefficient overhead to all real domestic production. We need to make government as small as possible. That puts more workers and money into the private sector to make tangible products and services.

[Bernard]

The Federal Reserve forecast for the US economy is a dismal 0.50% YoY. Do I detect a trend?

Is that including government spending, or actual US economy as in the private sector? Does the trend you (author) detect include the words "Hunker Down"?

Just yesterday, I made a separate trip to a 2nd grocery store to buy coffee creamer, because when my wife went to Walmart earlier in the week they were completely out the brand we use. And the price was 25% higher than a year or so ago.

[webheart]

Anthony b sanders’ use of the term YoY is up 70% YoY because it is easier to say YoY than to say more than last year. Also to make it seem like he has more credibility YoY than last year.