johngaltshrugged
Diamond Member
- Oct 15, 2020
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A dig into the GDP "growth" spurt reveals that without a reduction of imports caused by inflation & supply chain chokes & a big surge in exports, the GDP would've shrunk.
Let's see, the Nord Stream Pipeline blows up & Pedo Joe sells our strategic national reserves overseas.
Our military arms & other support going overseas to support the corruption in Ukraine.
Meanwhile, our domestic personal consumption is shrinking despite the record inflation & our businesses are contracting because they know what's really coming
It makes you wonder what the true numbers are here.
A 2.6% increase powered by the elites selling us out overseas while the population suffers back breaking increases in prices everywhere is not the good news they will try to sell this as.
If the economy was actually healthy & growing like the progbots say, that 8% inflation rate alone would power a much higher GDP increase.
True GDP is shrinking & this is just a Monopoly game trick of semantics where we send massive resources to Europe to gaslight the low info into believing things are turning for the better when the exact opposite is taking place.
If you like seeing the elites grow much wealthier while your actual purchasing power continues to shrink, keep voting for the collectivist totalitarians of the left.
Actually, all of the UNiparty is responsible for this. McConnell, McCarthy, Graham, Cheney, etc... are just as guilty.
They will do everything they can to ensure the status quo
Looking at the slowdown in consumption, BBG notes that personal consumption expenditures on goods were down 1.2% annualized in Q3, after dropping 2.6% in Q2. Meanwhile, growth of personal consumption expenditures on services moderated to 2.8%, from 4.6%.
Today data, according to some such as the FT, "ends a debate that raged over the summer as to whether the US economy was already in a recession" although we disagree since the only reason the GDP print was strong is because Europe is collapsing into a recession and is now overly reliant on US energy and weapons exports; the GDP print also did little to dispel fears that the US will eventually (again) tip into an even bigger recession given the aggressive steps the US central bank is taking to stamp out elevated inflation.
www.zerohedge.com
Let's see, the Nord Stream Pipeline blows up & Pedo Joe sells our strategic national reserves overseas.
Our military arms & other support going overseas to support the corruption in Ukraine.
Meanwhile, our domestic personal consumption is shrinking despite the record inflation & our businesses are contracting because they know what's really coming
It makes you wonder what the true numbers are here.
A 2.6% increase powered by the elites selling us out overseas while the population suffers back breaking increases in prices everywhere is not the good news they will try to sell this as.
If the economy was actually healthy & growing like the progbots say, that 8% inflation rate alone would power a much higher GDP increase.
True GDP is shrinking & this is just a Monopoly game trick of semantics where we send massive resources to Europe to gaslight the low info into believing things are turning for the better when the exact opposite is taking place.
If you like seeing the elites grow much wealthier while your actual purchasing power continues to shrink, keep voting for the collectivist totalitarians of the left.
Actually, all of the UNiparty is responsible for this. McConnell, McCarthy, Graham, Cheney, etc... are just as guilty.
They will do everything they can to ensure the status quo
- Personal Consumption: 0.97% of the bottom line number, down from 1.38% and the lowest since 2019.
- Fixed Investment subtracted -0.89% from the GDP, in line with last month's -0.92% as corporations continue to retrench ahead of the recession
- The change in private inventories shrank for the 3rd quarter, this time shrinking GDP by -0.70%
- On the positive side net exports rose by 2.77% courtesy of a 1.63% increase in exports and a decline in imports which contributed another 1.14% to the GDP print. As noted above, this alone was enough to explain the entire gain in Q3 GDP, and is a function of US support of the European war economy as the US exports record amount of commodities (oil and gas) as well as weapons to Europe.
- Finally, government consumption - which was and remains an oxymoron - added 0.42% to the bottom line GDP.
Looking at the slowdown in consumption, BBG notes that personal consumption expenditures on goods were down 1.2% annualized in Q3, after dropping 2.6% in Q2. Meanwhile, growth of personal consumption expenditures on services moderated to 2.8%, from 4.6%.
Today data, according to some such as the FT, "ends a debate that raged over the summer as to whether the US economy was already in a recession" although we disagree since the only reason the GDP print was strong is because Europe is collapsing into a recession and is now overly reliant on US energy and weapons exports; the GDP print also did little to dispel fears that the US will eventually (again) tip into an even bigger recession given the aggressive steps the US central bank is taking to stamp out elevated inflation.
Zerohedge
ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zero
www.zerohedge.com
