Again?
The bean counters keep saying the American economy is solidly good….
But?
When those ‘experts’ go home?
They spend more for gas, more on goods and might not buy that house right now with rising interst rates….
The Fed and consumers where woerried about inflation….
Now they are gonna have to deal with the coming recession that some said would come ‘later’…..
The pandemic and the fight in the Ukraine have whipsawed the Ameerican and world’s economies….
(China has it’s own problems with a Covid outbreak shutting down things there….Europe has Russina gas/oil turned off))
President Biden has another headache this morning…..
The slowdown — the first since the covid recession back in April 2020 — marks a reversal from the torrid pace that followed intense fiscal and monetary stimulus in the wake of the pandemic. Last year, for example, the U.S. economy grew by 5.7 percent, the fastest full-year clip since 1984.
While most economists still believe the expansion has plenty of momentum, particularly given the strength of the job market, recession fears have been rising, as inflation shows little signs of easing. The weakness comes amid worrisome signs that some of the world’s largest economies, including China and Europe, are grinding to a standstill….
Joe Biden is getting NO help from the economy….
Drop In GDP Challenges Biden’s Pitch to Voters
“President Joe Biden’s upbeat message that the economy is cruising along hit a troublesome speed bump on Thursday when the federal government reported that U.S. gross domestic product shrank during the first three months of 2022,” the AP reports.
“Economic activity declined at annual rate of 1.4%, a sharp reversal from last year when growth was the strongest since 1984. There were technical reasons for the decline that likely obscured the actual health of the economy, yet the drop clearly put the president on the defensive after he has said repeatedly that the booming job market means the U.S. can withstand inflation at a 40-year high.”
Off topic, but one of my medical providers last name is Dr. Kwak. What an unfortunate name for a medical provider!
No SHIT!
I wonder if he gets beat up by insurance companies?