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Posted on 07/25/2024 7:10:50 AM PDT by ChicagoConservative27
The U.S. economy grew at an annualized rate of 2.8 percent in the second quarter of 2024, according to new Commerce Department data released Thursday.
Economists had expected gross domestic product (GDP) to grow by 1.9 percent in the three-month period between April and June, closer to the 1.4 percent growth posted in the first quarter of the year.
The strong report comes as the Federal Reserve is set to meet next week to consider changing interest rates, which it has held steady since last July.
The central bank has kept rates at a two-decade high, as inflation has remained stubbornly above the Fed’s target of 2 percent.
Inflation has improved significantly since peaking at a 40-year high of 9.1 percent in June 2022. However, several higher-than-expected inflation readings in the first quarter delayed hopes of rate cuts.
(Excerpt) Read more at thehill.com ...
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Total lie. I post here almost every day. Probably couldn’t find a bigger Trump supporter than me. I’m not going to ignore what’s obviously happening. I’m going to speak up and hope that we can figure out how to stop this crap.
No the economy did NOT grow— the expenditure of the printed money fed reserve grew distributing borrowed money. That grew, and people spent what they could.
NO industry grew whatsoever. Except LawFARE, Inc.
Eric Holder vetting veep candidates at 2K an hour— that grew for him, as obama’s wingman.
ALL other economic markers show dramatic drops- housing, debt factors, oil price rises, mortgage rates and... defaults on all kinds of consumer and business credit. It is the government that has done this— deliberately. But how bout those French and the Olympics.
Before I believe that he can win. The media is very powerful. They got played in 2016 and they’ve done nothing but tried to show their power since then. Taking down the President in 3 weeks shows just how powerful. It’s not just that they took him down, they reversed all his numbers in 3 weeks. 65% of Rats wanted him gone according to their polls (which they may have faked). This speaks to the strength of Trump that he’s endured this for 9 years but it’s not clear that it’s enough.
When Clinton was elected the reporting on the economy changed so fast that Dan Rather got whiplash.
Clinton actually took credit for the improvement before he was sworn in.
Underreporting inflation causes the GDP to appear greater.
US economic stats now have the credibility of the old USSR. I recall in the 60s how we used to laugh at this crap from Pravda. Now we get it here as SOP. Jeez.
Yep...massive government spending is driving GDP.
There is zero question that there is immense influence of socialist/Marxists/Communists in media, along with academia and many other American institutions. Propaganda, agitprop, disinformation, and numerous tools to create despair in their opposition are always at play. Always.
NEW YORK (Reuters) - The Federal Reserve’s battle to get inflation under control likely faces fresh challenges should Donald Trump regain the White House, a dynamic that could put the U.S. central bank back in the former Republican president’s crosshairs.
Between this and the “fixed” job starts....I believe nothing...
I’ve got a bridge to sell to anyone who believes a shred of economic information coming from this administration.
Harris Honeymoon Tidbits. Americans love her. LOL!
All of a sudden the MSM will find all the homeless camps and start showing them day and night. Along with the caged kids.
Biden’s Commerce Department? Sure, the same corrupted agencies that say inflation is only 3-4%.
You have to be a complete idiot to believe their data.
Just spent $1010 on groceries and needed household stuff- the amount of meat was pathetic- hardly filled 1 shelf in the freezer, and the majority of the bill was for meat. Had I bought the same during president Trumps term, it would have cost 1/2 that or so, around $500-600- prices have gotten really out of control
“(5) And when he had opened the third seal, I heard the third beast say, Come and see. And I beheld, and lo a black horse; and he that sat on him had a pair of balances in his hand. (6) And I heard a voice in the midst of the four beasts say, A measure of wheat for a penny, and three measures of barley for a penny; and see thou hurt not the oil and the wine.” (Revelation 6:5-6)
(Note, a penny, or rather a denarius, was a day’s wage back then)
Sure, and there was only one shooter.
BS. GAS UP, FOOD UP, COURSE THOSE AREN’T COUNTED. RENT UP, CCs MAXED, BANKS WHO BACK CC WONDER IF THEY WILL BE PAID (BAILED OUT). POOR CROPS, TONS OF SAMONELLA RECALLS. REDFIELD SCREECHING BIRD FLU WILL KILL 50%. IS AS FAKE AS COVID. EXCUSE TO JAB EVERYONE, AND SLAUGHTER CHICKENS/EGGS. PEOPLE PULLING MONEY OUT OF BANKS. $27 TRILLION IN NEW TAXES. 3,000 MORE ILLEGAL LEACHES.
The signs are all pointing in that direction. There are links on my page if you care.
“GDP = consumption of goods and services,+ government spending + business investment + net exports”
In addition to wasteful spending that’s included, the GDP is not reduced by government borrowing.
Look, the federal budget deficit is $2 trillion. The GDP is $28.5 trillion. Since government spending is part of GDP, the deficit alone (what we borrow from our grandchildren) accounts for 7% of GDP. I know that things are not as simple as maybe I make it sound, if we weren’t borrowing and spending, the economy would be shrinking by 4.2% by my back of the envelope math. I mean, does sending money overseas add to our GDP? I don’t know the answer. All I can say, in my opinion, any reported ‘growth’ is due to borrowing money we don’t have.
Anyone believing that the economy grew at nearly 3 % last quarter is just a special kind of stupid.
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