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Started By
Message
U.S. GDP fell at a 1.4% pace to start the year as pandemic recovery takes a hit
Posted on 4/28/22 at 8:26 am
Posted on 4/28/22 at 8:26 am
quote:
Gross domestic product unexpectedly declined at a 1.4% annualized pace in the first quarter, marking an abrupt reversal for an economy coming off its best performance since 1984, the Commerce Department reported Thursday.
The negative growth rate missed even the subdued Dow Jones estimate of a 1% gain for the quarter. GDP measures the output of goods and services in the U.S. for the three-month period.
A plethora of factors conspired to weigh against growth during the first three months of 2022, which fell off a cliff following the 6.9% gain to close out last year.
However, the decline came largely from factors likely to reverse later in the year.
Rising omicron infections to start the year hampered activity across the board, while inflation surging at a level not seen since the early 1980s and the Russia invasion of Ukraine also contributed to the economic stasis.
LINK
16
Posted on 4/28/22 at 8:27 am to RLDSC FAN
quote:
Rising omicron infections to start the year hampered activity across the board
Posted on 4/28/22 at 8:29 am to UpToPar
stagflation station wooo wooo
Posted on 4/28/22 at 8:38 am to RLDSC FAN
quote:
for an economy coming off its best performance since 1984,
Context?
Posted on 4/28/22 at 8:40 am to RLDSC FAN
quote:
an economy coming off its best performance since 1984
quote:
Rising omicron infections to start the year
quote:
Russia invasion of Ukraine
Posted on 4/28/22 at 8:40 am to RLDSC FAN
It’ll only get worse as the feds just raised interest rates. Also, the yield curve inverted this past April.
Plenty of Wall Street economists trying to remain optimistic, though…(Biden Donors….*cough*)
Plenty of Wall Street economists trying to remain optimistic, though…(Biden Donors….*cough*)
This post was edited on 4/28/22 at 8:41 am
Posted on 4/28/22 at 8:41 am to LNCHBOX
that “strong economy” narrative looking even more sus than the “transitory inflation” narrative
Posted on 4/28/22 at 8:41 am to RLDSC FAN
How will raggedy ann spin this today?
Posted on 4/28/22 at 8:41 am to RLDSC FAN
This is obviously Russian propaganda
Posted on 4/28/22 at 8:42 am to bad93ex
quote:
How will raggedy ann spin this today?
Trump and Putin's fault.... somehow
Posted on 4/28/22 at 8:42 am to RLDSC FAN
Let’s go Brandon!
Posted on 4/28/22 at 8:44 am to RLDSC FAN
quote:
U.S. GDP fell at a 1.4% pace to start the year as pandemic recovery takes a hit
Bidens America
Posted on 4/28/22 at 8:45 am to RLDSC FAN
Posted on 4/28/22 at 9:21 am to RLDSC FAN
Add that to the 8% inflation and you have your Bidenomics.
Posted on 4/28/22 at 9:24 am to RLDSC FAN
quote:
an economy coming off its best performance since 1984, the Commerce Department reported Thursday.
These people. There was no economic recovery in 2021. You’re obviously going to have a better year in 2021 when you shut down the economy in 2020.
Posted on 4/28/22 at 9:26 am to RLDSC FAN
Will likely slow more. 12 years of Rapid growth usually leads inflation, a rise in rates to combat inflation, and then snap. Throw in some other dumb stuff like virus, shutdowns, logistics and materials problems and then you have a negative GDP.
Posted on 4/28/22 at 9:29 am to RLDSC FAN
quote:
Gross domestic product unexpectedly declined at a 1.4% annualized pace in the first quarter
“Unexpectedly”? Has this reporter been living in a cave?
quote:
A plethora of factors conspired to weigh against growth during the first three months of 2022, which fell off a cliff following the 6.9% gain to close out last year.
Here’s your “plethora of factors”
quote:
However, the decline came largely from factors likely to reverse later in the year.
Anyone who buys this bullshite is an idiot.
Posted on 4/28/22 at 10:13 am to TigerAlumni2010
We are completely F’d.
No one in the world believes Biden and his team have any idea how to fix this. Even the leftists know we are in huge trouble.
Once the last of the Covid free for all money flows through and the full effect of:
-Interest rate hikes
-plummeting consumer confidence
-skyrocketing inflation and living expenses (8% my arse, I’d guess it’s really 15-18%)
-supply chain issues
-gas increases
The bottom is going to fall out and they will either have to turn back on the money machine or we are talking full meltdown even after printing more money than the last two generations combined.
No one in the world believes Biden and his team have any idea how to fix this. Even the leftists know we are in huge trouble.
Once the last of the Covid free for all money flows through and the full effect of:
-Interest rate hikes
-plummeting consumer confidence
-skyrocketing inflation and living expenses (8% my arse, I’d guess it’s really 15-18%)
-supply chain issues
-gas increases
The bottom is going to fall out and they will either have to turn back on the money machine or we are talking full meltdown even after printing more money than the last two generations combined.
Posted on 4/28/22 at 10:16 am to tide06
if history is any indicator those in control of the money printers choose inflation versus recession almost every time. And those that do buck that trend are not remembered fondly even though they probably did what was needed at the time. Not sure why we expect this time to be any different.
This post was edited on 4/28/22 at 10:18 am
Posted on 4/28/22 at 10:19 am to Darth_Vader
quote:quote:
However, the decline came largely from factors likely to reverse later in the year.
Anyone who buys this bullshite is an idiot.
Unless they're predicting the dearth of DNC politicians being reelected which might be a truth. That would currently be the best bet for a reversal course.
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