Posted on 12/22/2022 6:36:25 AM PST by Kaiser8408a
Its another slow growth economic report for the Biden Administration. So much stimulus, so little to show for it other than painful inflation.
On a year-over-year (YoY) basis, US real GDP rose to a measly 1.9%. US core PCE YoY fell slightly to 4.93%. M2 Money growth is at 2.6% YoY.
The Misery Index (U-3 inflation rate + inflation) remains elevated and above 10% (it currently clocks-in at 12%), far above the pre-Covid reading of around 5%.
Here is the rest of the story. On a quarter-over-quarter basis, real GDP rose to 3.2% QoQ. Personal consumption rose 2.3% QoQ. Core PCE (Personal Consumption Expenditures) rose to 4.7% QoQ. If we use core PCE as a measure of inflation, inflation is rising.
Here is a video of Fed Chair Jerome Powell (doubling as President Joe Biden) saying creating inflation and then raising interest rates to fight it “It’s for the best.”
(Excerpt) Read more at confoundedinterest.net ...
Who here believes that inflation (core or total) is merely 4.93%? If you understate the inflation rate, then you overstate the real growth rate. Three percent higher inflation than stated means a 1% real decline rather than 2% growth.
We need to send MORE money to the Ukraine. This would fix this.
No. Real inflation is closer to 12% and the so-called ‘misery index’ would be much higher if libs weren’t in denial, protecting the machine.
I just got back from grocery shopping and 5% is BS! I saw a large number of items I use to buy less than a year that is now MORE THAN DOUBLE what is was then, no exageration!
The Economy That Wouldn’t Die, soon to be a feature movie.
The growth number reported by Marketwatch is 2.2% GDP growth.
1. What people “believe” has nothing to do with anything.
2. Food isn’t included in inflation calculations because it changes too much and too fast.
3. Inflation and GDP growth are two different things.
4. Oil affects the price of everything and oil is down a lot.
5. The economy is still growing and the super-low unemployment rate is a good indicator of that, not the price of eggs.
6. People only pay attention to things that go up in price and ignore all the things that have gone down in price. They fixate on food which isn’t applicable.
Are you going to volunteer to quit eating until Brandon tells us inflation is under control?
You see all these stories about how the economy sucks. Yet everywhere I go I see screaming “help wanted” signs, with starting pay in some fast food places of $17.25!
Something doesn’t add up.
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