Yikes: GDP Showing Ominous Warning Sign Not Seen Since the Great Depression

[RhodyPatriot]

How in the hell the mainstream media can keep touting our "economic growth" is beyond me.

People are juggling multiple jobs, inflation is "down" because it's only up 5.5% compared to this time last year (still absolutely atrocious) - and now the ghost of Herbert Hoover has stopped by to dump some ectoplasm on the GDP numbers.

Economic growth is slowing, residential investment is in the sewer because Americans can no longer afford the higher cost of the home, plus the high interest rates, when their real wages are already falling. The labor participation rate is still lower than before the pandemic

But perhaps most troubling is the GDP report showing the massive drop in real disposable income, which fell over $1 trillion last year and is the second-largest drop since 1932

Yikes: GDP Showing Ominous Warning Sign Not Seen Since the Great Depression

redstate.com

But the Dems, the Media, and the "experts" will keep heralding Joe's fantastic economy....right off a cliff.

 

[JoeB131]

 

[RhodyPatriot]

View attachment 751634

Oh, so you must have something that counters the biggest drop in disposable income since 1932....eerrr.....right?

Cuz otherwise you'd just be an asshole wanker who's engaging in the exact activity he's accusing "Republicans" of.

Lemme guess, Democrat?

 

[shockedcanadian]

How in the hell the mainstream media can keep touting our "economic growth" is beyond me.

People are juggling multiple jobs, inflation is "down" because it's only up 5.5% compared to this time last year (still absolutely atrocious) - and now the ghost of Herbert Hoover has stopped by to dump some ectoplasm on the GDP numbers.

Economic growth is slowing, residential investment is in the sewer because Americans can no longer afford the higher cost of the home, plus the high interest rates, when their real wages are already falling. The labor participation rate is still lower than before the pandemic

But perhaps most troubling is the GDP report showing the massive drop in real disposable income, which fell over $1 trillion last year and is the second-largest drop since 1932

Yikes: GDP Showing Ominous Warning Sign Not Seen Since the Great Depression

redstate.com

But the Dems, the Media, and the "experts" will keep heralding Joe's fantastic economy....right off a cliff.

It's global. IMO the primary cause was the excessive,.elongated massive spending during covid. Some of us cooler heads warned that it would boomerang, it's basic macro economics. The "experts" said it wouldn't contribute to inflation. Just wow.

 

[1srelluc]

I know one thing, I just got my home reassessment this week......In three years it went up 150K.

Looks like the county is going to lower rates to offset it some but damn.....You want a property tax revolt that is how you get one and the decreased public services that go along with it.

 

[JoeB131]

Oh, so you must have something that counters the biggest drop in disposable income since 1932....eerrr.....right?

Cuz otherwise you'd just be an asshole wanker who's engaging in the exact activity he's accusing "Republicans" of.

Actually, I discount it because it's just a number some wingnut pulled out of his ass.

GDP Grew by 2.9% in the fourth quarter, an improvement over earlier in the year when it technically shrank. Unemployment is still at 3.5%. And keep in mind, the Fed is TRYING to slow economic growth and increase unemployment to control inflation.

 

[iamwhatiseem]

I know one thing, I just got my home reassessment this week......In three years it went up 150K.

Looks like the county is going to lower rates to offset it some but damn.....You want a property tax revolt that is how you get one and the decreased public services that go along with it.

It is that crazy here as well... I made a thread about it awhile back.
Since we bought this house in 2019, it has went up in value by 51%.
We know this is not going to be our final home, I have halfway joked with Bonzi that we should sell the house, rent an apartment till the market collapses (it has to) - and then buy our final home.
We would probably be able to pay cash for that home.

 

[RhodyPatriot]

Actually, I discount it because it's just a number some wingnut pulled out of his ass.

GDP Grew by 2.9% in the fourth quarter

Except no one is talking about overall GDP.

See, that's the problem with "discounting" things you haven't even read.

But ain't that just like an open minded Lefty.

 

[JoeB131]

Except no one is talking about overall GDP.

See, that's the problem with "discounting" things you haven't even read.

But ain't that just like an open minded Lefty.

Except that statistic in 1932 was linked to GDP growth and high unemployment.
In this case, it's kind of meaningless.

So you are essentially taking a strong economy and looking for something to be upset about... hense.

 

[RhodyPatriot]

Except that statistic in 1932 was linked to GDP growth and high unemployment.
In this case, it's kind of meaningless.

So you are essentially taking a strong economy and looking for something to be upset about... hense.

View attachment 751945

So stupid.

I used to be a Democrat, and I'm not even Christian.

The takeaway was that disposable income has had the biggest drop since 1932. Period. And all the ancillary BS about GDP won't change that.

In the meantime, here's a prayer just for you:

 

[JoeB131]

So stupid.

I used to be a Democrat, and I'm not even Christian.

The takeaway was that disposable income has had the biggest drop since 1932. Period. And all the ancillary BS about GDP won't change that.

In the meantime, here's a prayer just for you:

I used to be a Republican, until the religious crazies took over.
The takeaway is that the figure is meaningless, and probably not even accurate. There was a much larger drop in disposable income in the hyperinflation/recessions of the 1970's. Oh, those times WERE bad, because you had much higher inflation than the current 5.5%, high unemployment, gas lines, etc.

I'm guessing you are a young Republican idiot who probably has no context.

 

[RhodyPatriot]

I used to be a Republican, until the religious crazies took over.

Over half of Republicans are now pro-gay marriage.

The religious right has not dominated the Party since the Moral Majority in the 80s.

They are, of course, still one of the most powerful factions.

But they no longer try to force others to believe what they do. And a lot of what they say makes sense in terms of policy.

The Woke Religion on the other hand? Well, evidence of their authoritarian hegemony abounds.

 

[JoeB131]

Over half of Republicans are now pro-gay marriage.

The religious right has not dominated the Party since the Moral Majority in the 80s.

They are, of course, still one of the most powerful factions.

But they no longer try to force others to believe what they do. And a lot of what they say makes sense in terms of policy.

The Woke Religion on the other hand? Well, evidence of their authoritarian hegemony abounds.

Over half? Really? Or do they just accept it? The fact that a guy like DeSatan can still ring the homophobic bell and get you guys to drool like Pavlov's dog says it all.

"Woke" is a figment of your imagination. I go by the original title, "Not being an asshole".

 

[RhodyPatriot]

Over half? Really? Or do they just accept it? The fact that a guy like DeSatan can still ring the homophobic bell and get you guys to drool like Pavlov's dog says it all.

"Woke" is a figment of your imagination. I go by the original title, "Not being an asshole".

Utterly delusional.

All this stupid post proves is you fell for the "Don't Say Gay" bologna and think "Woke" isn't real.

I don't know which is more indicting of your intellect, but I do know you're a waste of time.

Dismissed.

 

[JoeB131]

Utterly delusional.

All this stupid post proves is you fell for the "Don't Say Gay" bologna and think "Woke" isn't real.

I don't know which is more indicting of your intellect, but I do know you're a waste of time.

Dismissed.

Your concession is duly noted. Go back and wait for the Rapture with the other crazies.

 

[RhodyPatriot]

Your concession is duly noted. Go back and wait for the Rapture with the other crazies.

Pat you on your head and give you a cookie.

Good boy.

Go play.

 

[Harpy Eagle]

I know one thing, I just got my home reassessment this week......In three years it went up 150K.

Damn it Joe.

 

[Nobody911]

My views : Inflation => Only the super rich still happy. Thank capitalism.
Employment to grow => no sign of something called Great Depression.
It seems to me Fed has no great worries about the economic situation.

Fed Facts 2023/01/18:

Source:
Federal Reserve Board - Beige Book(downloadable ) – Federal Reserve Board - Beige Book

 

[HereWeGoAgain]

I used to be a Republican, until the religious crazies took over.
The takeaway is that the figure is meaningless, and probably not even accurate. There was a much larger drop in disposable income in the hyperinflation/recessions of the 1970's. Oh, those times WERE bad, because you had much higher inflation than the current 5.5%, high unemployment, gas lines, etc.

I'm guessing you are a young Republican idiot who probably has no context.

Sure you were.
There are fewer religious conservatives than ever before.
In fact churchgoers are declining.

 

[JoeB131]

Sure you were.
There are fewer religious conservatives than ever before.
In fact churchgoers are declining.

Here's the major difference. Yes, Reagan did suck up to Jerry Foul-well too much, but there was never any doubt Reagan was calling the shots.

Reagan still appointed moderate judges that upheld Roe, for instance.

The way I could tell the Crazies took over was after Obama won in 2008, they had a conclave to discuss what went wrong. And instead of concluding that the wrecked economy and the unpopular war was their problem, they instead decided we just needed some more Jesus on the platform.

You had Mitt Romney, who thinks he's wearing Magic Underwear
Piyush Jindal - who performed exorcisms in college.
Sarah Palin, who went to a church where they invited a witch hunter to speak.
Mike Huckabee, who thinks the rapture is coming.

Yes, this is the inmates running the asylum.