These lying sacks have picked up the bullshit baton from Pravda.
Posted on 07/27/2023 12:29:36 PM PDT by ChicagoConservative27
Gross domestic product (GDP) levels came in hot in the second quarter, growing at a 2.4 percent rate that marked the fourth straight quarter of positive growth and underlined the resilience of the U.S. economy.
Economists polled by Bloomberg had been expecting GDP growth of around 1.8 percent, meaning the 2.4 percent growth was a pleasant surprise — especially with other recent data indicating slowing inflation.
The numbers from the Commerce Department are the latest sign of strength in the U.S. economy, and they come a day after the Federal Reserve reversed its March prediction of a “mild recession” to hit later this year.
Here are three takeaways on the numbers.
(Excerpt) Read more at thehill.com ...
The Hill
By tomorrow night Denninger will have shredded this. Can’t wait.
The four components of gross domestic product are personal consumption, business investment, government spending, and net exports.
I’ll take massive government spending for $500 Alex
These lying sacks have picked up the bullshit baton from Pravda.
Just wait. First, the student loan deferrment ends in September, which means that most of these millions of borrowers will now have to pony up $300 to $1,200 per month to pay back their loans. For two years these deadbeats have been spending this money on personal consumption.
Second, consumers had fattened up their savings under Trump and when COVID hit, and the spending of that savings over the last year has been a tailwind for the economy. Credit cards are starting to get maxxed out, which will result in a decline spending.
Third, businesses can only shrink their goods so much. I ordered a McDonald’s hamburger yesterday and it was barely bigger than a White Castle burger.
Fourth, the impact of the interest rate hikes have not fully kicked in. Those maxxed out credit cards are having their interest rates increase.
Give it about another 6 months for the balloon to popl
Ignore that $4.59/gal gas. $3.99 hostess twinkees. Take out food and energy costs and things are all unicorns and rainbows. Come on man!!!!!
US Economy Blows
Every day is a contest between who lies more, Asspress or The Hill.
Six dollar bags of chips rock. Plus they shrink them for good measure.
Maybe Joe can ask the Federal Reserve for a public debt jubilee?
The government puts out rigged numbers and the communist Hill is there to push the narrative.
Gross output, the real measure of the economy, has been in decline for 2 straight years. The CPI numbers are a joke. Fuel and food are up around 60% in the past two years.
Everyone is getting poorer and they’re reminded of it every time they go grocery shopping.
Waiting for the “unexpectedly” in revisions.
LMAO! Perfect edit.
Here’s the one takeaway not mentioned: Was the growth in the economy normalized against the inflation rate in comparison to other quarters?
Take a look at quarterly government spending growth, you’ll find your answer why there is GDP growth:
https://tradingeconomics.com/united-states/government-spending
is the market down today?
“I ordered a McDonald’s hamburger yesterday and it was barely bigger than a White Castle burger”
Why would anyone expect a McDonald’s hamburger patty and bun to be bigger than anyone else’s?
“US economy blows past expectations”
So says the putrid propagandists at The Hill. The reality on the ground is quite the opposite.
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