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Started By
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US economy grew by just 1.6% in the first quarter, a much slower pace than expected
Posted on 4/25/24 at 1:10 pm
Posted on 4/25/24 at 1:10 pm
quote:
Washington
CNN
—
The US economy cooled more than expected in the first quarter of the year, but remained healthy by historical standards. Economic growth has slowed steadily over the past 12 months, which bodes well for lower interest rates, but the Federal Reserve has made it clear it’s in no rush to cut rates.
Gross domestic product, which measures all the services and goods produced in the economy, measured an annualized rate of 1.6% in the first quarter, the Commerce Department reported Thursday. It was the weakest pace of growth since the second quarter of 2022 when the economy contracted.
That’s a steep slowdown from the fourth quarter’s 3.4% rate and also below the 2.2% rate economists projected, according to a FactSet poll. The figures are adjusted for seasonal swings and inflation.
LINK
10
Posted on 4/25/24 at 1:21 pm to notiger1997
quote:
Good
Yes and no.
Good in theory, because it would indicate the rate hikes have cooled things off and inflation should be checking up.
Bad because inflation hasn't checked up, so in THAT case, you'd at least want a red hot economy to go with it.
Inflation + cooling economy = stagflation. That's a situation that is very difficult to get out of.
Posted on 4/25/24 at 1:25 pm to Longhorn Actual
quote:
Inflation + cooling economy = stagflation. That's a situation that is very difficult to get out of.
Those of us who remember the 70s know what this is like. You young guys think 2008 sucked? Just wait. Think about what 2008 was like and add in the fact it costs $20 for a burger, fries, and Coke.
Elections have consequences. Many are about to find that out the hard way.
This post was edited on 4/25/24 at 1:29 pm
Posted on 4/25/24 at 1:27 pm to Darth_Vader
Ya think!
Posted on 4/25/24 at 1:27 pm to Darth_Vader
They forgot to book the topside entry
Next quarter we will find out about it when we post a fat -2.9
Next quarter we will find out about it when we post a fat -2.9
This post was edited on 4/25/24 at 1:28 pm
Posted on 4/25/24 at 1:35 pm to Darth_Vader
quote:
Think about what 2008 was like and add in the fact it costs $20 for a burger, fries, and Coke.
we're already there... past there is you go to Five Guys
Posted on 4/25/24 at 1:36 pm to Darth_Vader
Thanks Biden
Posted on 4/25/24 at 1:48 pm to Darth_Vader
quote:
Many are about to find that out the hard way
It’s beyond time for a reckoning.
Posted on 4/25/24 at 1:58 pm to Darth_Vader
The ridiculous PURPOSEFUL overreaction to the panicdemic will go down as one of the dumbest events in US history, and probably the first where we truly saw the negative impact on society of social media. At least for those willing to be honest.
The Left and media lit the spark for the overreaction. Social media turned it in to a raging wildfire that negatively changed society.
Those who are old enough to have lived through several similar pandemics over decades knew how ridiculous the freak out was from day one. Unfortunately, the loudest voices carried the day….so here we are
The Left and media lit the spark for the overreaction. Social media turned it in to a raging wildfire that negatively changed society.
Those who are old enough to have lived through several similar pandemics over decades knew how ridiculous the freak out was from day one. Unfortunately, the loudest voices carried the day….so here we are
This post was edited on 4/25/24 at 2:00 pm
Posted on 4/25/24 at 2:31 pm to Darth_Vader
quote:
quote:
Inflation + cooling economy = stagflation. That's a situation that is very difficult to get out of.
Those of us who remember the 70s know what this is like. You young guys think 2008 sucked? Just wait. Think about what 2008 was like and add in the fact it costs $20 for a burger, fries, and Coke.
I remember the 70's vividly. This is going to be worse than the 70's. All of the economic data is pointing to stagflation like Germany had about 80 years ago. Bad economic policy leads to a bad economy. Who would have thunk it.
Posted on 4/25/24 at 2:33 pm to Darth_Vader
quote:
a much slower pace than expected
Posted on 4/25/24 at 2:34 pm to Darth_Vader
Again?
Posted on 4/25/24 at 2:35 pm to Darth_Vader
Posted on 4/25/24 at 2:37 pm to Darth_Vader
quote:
but remained healthy by historical standards
Posted on 4/25/24 at 2:43 pm to Darth_Vader
quote:Back then I can remember telling someone, "We have double digit inflation and double digit unemployment. We're fricked!'
Those of us who remember the 70s know what this is like.
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