Wow, Can the economy be on a worse trajectory than it is?
We are seeing the dollar shrink at a rate not seen since the 1970's. And we are being lied to by the president and the media that everything is great. The GDP growth projection was missed by 2% points, that's a 33% miss. Yesterday, the FED said that rates would remain at historic lows, close to zero because the economy was showing signs of improvement. Prices are starting to get out of control as the price increases start to compound through each industry's business cycle and the FED is doing nothing about it. Reported inflation is about 6% while wages only increased about 4%, that is an effective paycheck cut of 2%. The real inflation rate is much higher and individuals spending power is dropping like a rock. The US is on it's way to economic collapse thanks to those currently in power.
The U.S. Bureau of Economic Analysis released its advanced estimate of second-quarter gross domestic product (GDP) Thursday morning at 8:30 a.m. ET. Here were the main metrics from the report compared to consensus data compiled by Bloomberg:
We are seeing the dollar shrink at a rate not seen since the 1970's. And we are being lied to by the president and the media that everything is great. The GDP growth projection was missed by 2% points, that's a 33% miss. Yesterday, the FED said that rates would remain at historic lows, close to zero because the economy was showing signs of improvement. Prices are starting to get out of control as the price increases start to compound through each industry's business cycle and the FED is doing nothing about it. Reported inflation is about 6% while wages only increased about 4%, that is an effective paycheck cut of 2%. The real inflation rate is much higher and individuals spending power is dropping like a rock. The US is on it's way to economic collapse thanks to those currently in power.
The U.S. Bureau of Economic Analysis released its advanced estimate of second-quarter gross domestic product (GDP) Thursday morning at 8:30 a.m. ET. Here were the main metrics from the report compared to consensus data compiled by Bloomberg:
- Q2 GDP, seasonally adjusted annualized quarter-over-quarter: 6.5% vs. 8.4% expected and a downwardly revised 6.3% in Q1