Posted on 04/27/2023 6:38:54 AM PDT by Kaiser8408a
Crooner Peggy Lee said it best: Is that all there is?
Unfortunately, US GDP grew at a pathetic 1.1% QoQ.
Official estimates from the Congressional Budget Office (CBO) show that, since January 2021, legislation signed by President Biden has set in motion a record $3.37 trillion in new spending. And for all that spending, we get a pathetic 1.1% QoQ growth rate?
Gross private domestic investment crashed by -12.5% QoQ.
This is Biden’s idea of a strong economy? His lame campaign slogan is “Let’s finish the job!” Please don’t Joe!
And take Janet “The Evil Hobbit” with you!
(Excerpt) Read more at confoundedinterest.net ...
All numbers must be deflated to get real numbers.
The real numbers show negative real growth.
True growth usually comes from technological change.
A strong real estate market is followed by a weaker real estate market.
The Democrats never "invest" in anything other than themselves and their own interests... it's never about doing anything relevant or fiduciarily proper.
Millions of older people have suffered about a 30% in buying power due to monetary inflation.
Millions of them are buying less.
If you are looking for a politician to improve the economy you are looking the wrong way.
Giveaways. And both parties party on.
5% of GDP is defict (fiat) spending. So the calulation is really 5% - 1.1% = -3.9% GDP ( negative ).
Good point
“Let’s break out the booze and have a ball.” Relevant today.
“$3.37 trillion in new spending.”
Half of which has ended up in people’s pockets rather than actually being “spent” on anything.
This is Biden’s idea of a strong economy
He was known as the stupidest guy in the senate by both parties for a reason.
Obama had it right about Biden f*****g things up.
I moved (sold & bought) in 2020. Last move.
Traded for a used new auto in 2021. Last auto.
Converted a tub shower to a walk-in in 2022. Done with that. (love it!)
Going forward, my elective spending will continue to be components for constructing a model train layout.
Some boomers travel & continue to buy buy buy but I’d wager more than not settle into a frugal spending pattern.
And many of those that settle do so because they must.
Millions of older people have suffered about a 30% in buying power due to monetary inflation.”
^
How many have “Reverse Mirtgages”?
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