Posted on 07/25/2021 9:26:13 AM PDT by Browns Ultra Fan
There are riots in France as their government mandates vaccine passes and mandate vaccination …. as the Covid Delta Variant case skyrocket. Covid vaccination protests are occurring in Italy, Britain and Greece as well. Threats of a resurgence of economic lockdowns are being tossed about.
So, where does the US economy sit as the likelihood of another round of economic-crippling shutdowns is discussed in Washington DC?
The Q2 GDP numbers will be out on Thursday, July 29th. But for Q1 2021, we saw real GDP PER CAPITA fall 0.052% YoY. While M2 Money Velocity sank -18.64% YoY.
Headline inflation for June is running at 5.32% YoY ahead of Thursday’s GDP report.
The old adage in economics was that money printing was fine, as long as it didn’t exceed real GDP growth. Well, that old adage was shot to hell with M2 Money growing at 13.84% YoY while real GDP per capital is growing at -0.05% YoY in Q1 2021.
As of July 14th, we have seen bank deposits growing at 10.24% YoY while loans and leases at all commercial banks remain at negative growth at -2.3655 YoY.
Let’s hope that the US avoids going into economic lockdown … again … like the UK and Europe have done.
The Ride of The Statists and Federal Reserve … coming to the “rescue”?
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They’re just trying to accelerate the suzerainty of China. Because white man bad.
I’m glad I just paid off all of my debt. No mortgage, no car payment. I’m debt free. Yay!
Once the money slows down, then stops, somebody will be left holding the bag.
When they try to impose another unConstitutional lockdown tell ‘em to “Kiss your grits”.
Resist!
The move of the Biden Administration and The Federal Reserve towards a perpetual economic lockdown is really scary. >>>>>>>>>>
Exteded Pandemic into Nov 3rd 2022, so that the mid terms can be held under emergency Covid voting rules.
Its the only way the Dems can beat MAGA.
And the American left is going at extending the pandemic with a will of tyranny.
The US left doesn’t really care about the economy, they want to destroy it and then rebuild a Utopia.Print more money, impose draconian social supplement programs....extend the pandemic. Repeat the cheat.
It’s fairly plain to see.
Cherry-picking starting points is a hallmark of bad analysis. Real GDP fell by a third annualized in the second quarter of 2020. Thus, any YOY analysis is infected by that fall off a cliff.
But, the economy has come back incredibly strong - largely due to the Trump Administration's policies and helicopter drop of money. I suspect the economy has returned to pre-pandemic levels of output, which is an incredible achievement all things considered.
Inflation...yea...the printed numbers are elevated and supply chain disruptions are real. It's worth monitoring and assessing and developing plans in case it metastasizes. But the 10-year treasury and the bond market are NOT acting like creatures petrified of inflation. Other barometers are also not freaking out, but people selling Econ fearporn, gold, bitcoin, and freeze-dried food (and accepting payment in "worthless" fiat currency) are saying the sky is falling (again).
Call me when they 10-yr yield above 200bp.
We hold these Truths to be self-evident, that all Men are created equal, that they are endowed by their Creator with certain unalienable Rights, that among these are Life, Liberty, and the Pursuit of Happiness—-That to secure these Rights, Governments are instituted among Men, deriving their just Powers from the Consent of the Governed, that whenever any Form of Government becomes destructive of these Ends, it is the Right of the People to alter or to abolish it, and to institute new Government, laying its Foundation on such Principles, and organizing its Powers in such Form, as to them shall seem most likely to effect their Safety and Happiness. Prudence, indeed, will dictate that Governments long established should not be changed for light and transient Causes; and accordingly all Experience hath shewn, that Mankind are more disposed to suffer, while Evils are sufferable, than to right themselves by abolishing the Forms to which they are accustomed. But when a long Train of Abuses and Usurpations, pursuing invariably the same Object, evinces a Design to reduce them under absolute Despotism, it is their Right, it is their Duty, to throw off such Government, and to provide new Guards for their future Security. Such has been the patient Sufferance of these Colonies; and such is now the Necessity which constrains them to alter their former Systems of Government.
Jan-Feb-Mar of 2020 was totally the Trump economy, and COVID had very limited impact until Q2.
Of course, trillions of borrowed dollars probably had quite an impact, too.
You should have waited until you could pay all those debts off with Weimar money. In Biden’s America, fiscal responsibility is for fools.
Historical + Great Post!
Whoa! Hold up there slick.
Our Dominionly elected leaders have spent and are spending US into an unpayable debt and adding to it every chance they get. If our "elected" leaders were to stop spending right now our grandchildren's grandchildren would still be paying on it.
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