M14 Shooter
The Light of Truth
On the surface, good news the Democrats quickly took credit for:
But...but... the economy is "strong as hell", desperately says Biden, to be mindlessly parroted by his useful idiots.
Having just taken credit for the +2.6% on Q3, who will Bident and the Democrats - and their useful idiots - blame for the Q4-1-2 recession everyone fully expects?
Inside the numbers., however....For the first two quarters of 2022, Gross Domestic Product fell, meaning Joe Biden and his Democrat pals had steered the nation into recession — despite Leftmedia attempts to change the long-understood definition of what constitutes a recession. Well, October Surprise! GDP in the third quarter grew by a seemingly healthy and “better than expected” 2.6%.
“Consumer spending, the economy’s main engine, cooled from July to September compared with the previous quarter,” reports The Wall Street Journal.
To that point, EJ Antoni of The Heritage Foundation said, “Consumer spending and business investment combined actually contributed -0.62 percentage points to GDP.” So why did GDP grow? Antoni says, “All of GDP growth last quarter was due to [a] decline in imports and an increase in exports.”
Commentator Ed Morrissey explains, “This is almost entirely due to another massive trade difference: exports up 14.4%, imports down -6.9%.” Therefore, he says, “This is not a normal status and we can likely expect another big swing to the opposite in Q4.” That’s because, for the second straight quarter, private investment declined. Morrissey concludes, “Businesses and investors don’t appear to have much confidence in future growth.”
Democrats' Last-Minute Economic Hope
Third-quarter GDP grew 2.6%, but the reasons for that are concerning rather than encouraging.
patriotpost.us
U.S. Economy Grew 2.6% in Third Quarter, GDP Report Shows
While key segments remained resilient during the third quarter, economists are worried about a possible recession.
www.wsj.com
But...but... the economy is "strong as hell", desperately says Biden, to be mindlessly parroted by his useful idiots.
Having just taken credit for the +2.6% on Q3, who will Bident and the Democrats - and their useful idiots - blame for the Q4-1-2 recession everyone fully expects?