Posted on 06/04/2024 7:37:25 AM PDT by Kaiser8408a
Boom boom!
ATL Fed Nowcast plunges to 1.8% as their consumer spending estimate collapses – less than 3 weeks ago, they were forecasting 4.2% growth for Q2; a recession likely began in April.
The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the second quarter of 2024 is 1.8 percent on June 3, down from 2.7 percent on May 31. After recent releases from the US Census Bureau and the Institute for Supply Management, the nowcasts for annualized second-quarter real personal consumption expenditures growth and real private fixed investment growth declined from 2.6 percent and 3.1 percent, respectively, to 1.8 percent and 1.5 percent.
fff
Since I used The Animal’s version of the John Lee Hooker great tune “Boom Boom,” I will use another Animals tune for Joe Biden’s penchant for sniffing little girls. “Baby Let Me Take You Home.”
The Animals band. Not to be confused with the animals in the Biden Administration and Congress.
(Excerpt) Read more at confoundedinterest.net ...
“declined from 2.6 percent and 3.1 percent, respectively, to 1.8 percent and 1.5 percent”
It may be partially due to pricing hamburgers at $17.
The American public is stupid, and distracted, but they will understand when they can’t afford to make ends meet.
In ten, nine, eight, seven........
But but but.....Biden:
“I have created over 15 million jobs since I have been president.”
“We can further reduce the deficit, which I have been able to reduce.”
unexpected?
Oooooohhhh noooooooooo.....
“It may be partially due to pricing hamburgers at $17.”
Like the comment I made to the wife after seeing a brand new Hot Pink Corvette pull into McD’s: He can probably afford it.
Well, I guess this is good to see. After all, high interest rates are intended to pull money out of the system to slow growth and spending resulting in lower inflation.
I SMELL BAIL- INs. Not a Bail-out. Read the Dodd Frank Act , they have been codified into law, waiting to use…..any coincidence this year the Fed and BIS also codified into law Tier One assets, cash and GOLD, only.
Do note the World’s Central Banks have been buying historic amounts of gold, ( but not the lone U.S. of A)…our DTCC ruling last month gave ALL Bitcoin and electronic money a 100 percent haircut AND 20 percent haicut to US instruments of debt,….and30-60 percent haircut on all equities..
If you don’t know what this means- time you read up on it…..and act accordingly…….gov default is coming, my “ money “ goes on a 2027 time frame.
Time to prosper, ( a few of us) again.
They are already strapped.
This is why Biden is crazy about Student Debt forgiveness. That extra $750 a month coming out of those households is killing discretionary spending. They simply loaded up the credit cards. Now, those are maxed out and BIG things like cars, refrigerators, washing machines, and what not are seeing the impact.
If you know how to do appliance repair…you can make a fortune.
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