Posted on 09/16/2022 6:45:24 AM PDT by ConservativeInPA
3rd Qtr GDP Estimate down to 0.5%. Previous estimate 1.3% on 9/9.
(Excerpt) Read more at atlantafed.org ...
I estimate that most people didn’t know there were so many estimates.
two down quarters, 3rd quarter about flat, then at least two more down quarters says the CEO of Bank of America.
Another White House ‘victory’ this afternoon? /s
I’m actually surprised the Fed hasn’t “revised” how they calculate the GDP to keep that number well into positive territory. After all, you don’t want to alarm the peasants.
Thanks for posting, hadn’t seen this one before. I ‘estimate’ this to be in line with expectations, it has a good beat and I can dance to it so I give it 3 garden variety recession stars.
There’s not much need for that. Government spending is part of the GDP calculation. Congress and Biden “revise” the GDP every time they spend more money. If you subtract government spending from the GDP you will have a real idea how bad the economy is. The government’s only gross product is the lies they tell and the shit they produce. The government doesn’t make anything.
What are the chances every griffting politician in d.c. has a short position on crashing stocks
After all, they are obviously finance savvy and HAD to have known all the $$$ $pent in the I.R.Act would cause a massive drop in stocks.
Ever see the movie
The Big Short
. ?
( you should watch it ,
EVERY american should watch it).
Has the “inflation reduction act” kicked in?
If it’s not another quarter of negative growth they’ll declare victory over inflation and happy days are here again
Whew. And I thought this was a recession.
Good thing we have such a definition.
/s
The peasants are only alarmed when the MSM raises it, and they operate on a short leash.
Very little if any money from the IRA has been spent, if any. It’s been law for a month. Like most spending bills, spending occurs over years, not one lump sum. Only an economic mental midget would ever think that government can quickly spend the economy out of inflation. The realistic way to look at how government spending is to look at the accumulated spending going back several years. Spending exploded with the start of the ChiCom Plague, but not just with COVID relief bills.
Oh don’t worry they will do EVERYTHING they can to try to keep this number positive, no matter what...
We’ll see... in a recession they won’t admit is a recession, so another negative quarter will be denied if they can find any single solitary way to fudge the numbers to do it.
No doubt, 0.3% is going to be hailed as the strongest economic rebound in history.
Been fun watching the GDP NOW nonsense all year...
Every quarter, it will be Positive 2 whatever first estimate.. then slowly move it down, but not too much until around 2 weeks out, and then suddenly it tends to jump to reality just at the end when they know the slight of hand crap must end for the final....
Funny thing this time is they actually JUPMED it up to 2.6 (highest all quarter, on 9/1)...
Depending on the “color” of the money, they would have 1-2 years to obligate, then another 3-7 on top of that to spend.
In other words the American People will be taking it in the shorts FOR A LONG TIME to come. Face it, the money is gone. Where it eventually goes nobody knows.
Straight down the DC Toilet!!!!
“After all, they are obviously finance savvy and HAD to have known all the $$$ $pent in the I.R.Act would cause a massive drop in stocks.”
Since you know it too you should be doing the same. Why let them have all the goodies?
Since you know it too you should be doing the same. Why let them have all the goodies?
/\
Cuz my morals and patriotism prevents me from profiting on the misfortunes of my country.
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