skews13
Diamond Member
- Mar 18, 2017
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This is what happens when people start worrying that the Republicans are going to do the same thing they always do and weāre heading for a drop in the economy. The first quarter GDP numbers have come out and theyāre not looking good.
ā¢ The economy barely grew, expanding at an annual rate of only 0.7 percent.
ā¢ The growth was a sharp decline from the 2.1 percent annual rate recorded in the final quarter of last year. It was the weakest quarterly showing in three years.
ā¢ Consumption, the component reflecting individual spending, rose by only 0.3 percent, well below the 3.5 percent rate in the previous quarter.
āThe retail retreat, especially in autos, was greater than many people anticipated,ā he said.
Anyone who knows how the GOP cult operates, knows theyāre going to massively cut taxes for their Oligarch masters, which will massively drive up the deficits, which will then be followed by massive austerity measures. As Krugman says, your spending is someone elseās income.
Put on top of that, the deregulation frenzy that will allow the Oligarchs to pillage the economy at everyone elseās expense and youāve got the perfect recipe for another financial collapse. But letās frost this shit cake with an insane psychopath who not only has his hands on the nuclear trigger, heās got his hands on the economic levers also.
Americans may have a short memory, but some of them havenāt forgotten what they did to us less than a decade ago and weāre pulling back and getting ready for another shock.
And all those suckers who bought into the Trump/GOP BS about all the great jobs they were going to bring back, are about to fall off the delusion train and are going to get a very rough ride on the reality train.
RESIST!
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Dave Weigel
ā@daveweigel
BREAKING: Trump administration to replace GDP number with quarterly reminder of how many electoral votes Trump won https://twitter.com/ap/status/857935222524039168 ā¦
8:45 AM - 28 Apr 2017