Posted on 06/29/2023 12:24:08 PM PDT by Kaiser8408a
Welcome to why I am always dubious about Federally-reported economic numbers, like GDP.
GDP was adjusted up to 2% QoQ for Q1. But what was the reason for the dramatic revision?
Net trade was the biggest change: exports were revised from 0.58% to 0.86%, while imports subtracted only -0.28% from the bottom line GDP, a big drop from the -0.57% subtraction previously. In total, net trade became a 0.58% contributor to growth, up from a tiny 0.01% booster in the latest revision, effectively responsible for almost all of the 1.3% to 2.0% GDP increase.
Speaking of Bidenomics, REAL median weekly earnings have fallen -3.7% under Biden’s Reign of Economic Error.
That’s a 3.16% decline in real earnings for the average worker across the 29 months of the Biden Presidency.
(Excerpt) Read more at confoundedinterest.net ...
That’s stagflation.
Bidenomics? Follow the DOW much?
The decline of the dollar is starting to have an effect.
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