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Misery! US Real GDP Remains Below 2% YoY As Core PCE (Inflation) Rises And Remains Near 5% YoY (Misery Index Remains Elevated At 12%)
Confounded Interest ^ | 12/22/2022 | Anthony B. Sanders

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 ...


TOPICS: Business/Economy; Government; Politics; Society
KEYWORDS: biden; blogpimp; brownsultrafan; economy; fed; inflation
Let's see if the MSM ignores this weak GDP report and focuses on only the quarterly change only.
1 posted on 12/22/2022 6:36:25 AM PST by Kaiser8408a
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To: Kaiser8408a

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.


2 posted on 12/22/2022 6:49:13 AM PST by KarlInOhio (Soon the January 6 protesters will be held (without trial or bail) longer than Jefferson Davis was.)
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To: Kaiser8408a

We need to send MORE money to the Ukraine. This would fix this.


3 posted on 12/22/2022 6:50:27 AM PST by rovenstinez ( )
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To: Kaiser8408a

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.


4 posted on 12/22/2022 7:02:15 AM PST by logi_cal869 (-cynicus the "concern troll" a/o 10/03/2018 /!i!! &@$%&*(@ -)
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To: Kaiser8408a

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!


5 posted on 12/22/2022 7:11:03 AM PST by TonyM (Score Event)
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To: Kaiser8408a

The Economy That Wouldn’t Die, soon to be a feature movie.

The growth number reported by Marketwatch is 2.2% GDP growth.


6 posted on 12/22/2022 7:48:01 AM PST by SaxxonWoods (Successful People Have a Sense of Gratitude. Unsuccessful People Have a Sense of Entitlement)
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To: KarlInOhio

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.


7 posted on 12/22/2022 7:58:37 AM PST by SaxxonWoods (Successful People Have a Sense of Gratitude. Unsuccessful People Have a Sense of Entitlement)
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To: SaxxonWoods
...Food isn’t included in inflation calculations because it changes too much and too fast...

Are you going to volunteer to quit eating until Brandon tells us inflation is under control?

8 posted on 12/22/2022 10:42:04 AM PST by CurlyDave
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To: Kaiser8408a

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.


9 posted on 12/22/2022 11:22:44 AM PST by aquila48 (Do not let them make you "care" ! Guilting you is how thery control you. )
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