Economic Cluster

[SlugSlinger]

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:

• Q2 GDP, seasonally adjusted annualized quarter-over-quarter: 6.5% vs. 8.4% expected and a downwardly revised 6.3% in Q1

 

[RETOKSQUID]

But remember folks, it's all the orange mans fault!

 

[cowadle]

looks like jerome is going to remain fed chair. the fed has been slipping out that there will be no tightening and probably more printing to cure any problems. the biden infrastructure bill is going to pass now that the rino have their assets in place to harvest through insider trading. inflation is getting hot and might get real hot. looks like we are going into another covid panik shut down etc etc. iran is selling oil again and the russian pipeline is in full swing. the dollar won't remain as world reserve much longer. look what happened to england when the dollar replaced the sterling as WRC.

 

[SlugSlinger]

Oh, and we have this little tidbit on a short horizon. No more free housing for the feee loaders.


Joseph Zeballos-Roig
2 hours ago

• The Biden administration said it would not renew a federal eviction ban.
• It said its hands were tied due to a recent Supreme Court ruling that said Congress needed to act.
• At least 6 million renters will be at risk of losing their homes in the near-future.