- This topic has 7 replies, 5 voices, and was last updated 3 years, 11 months ago by
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Down by an annual rate of 1.4 percent.
https://www.wsj.com/articles/us-economy-gdp-growth-q1-11651108351
It isn’t a recession yet. That takes two quarters.
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Sic transit gloria mundi (so shut up and get back to work) -
But according to Jenn Psaki, this is a technical correction caused by businesses increasing inventory. Huh?
I’m having trouble keeping up with the narrative. We have inflation because demand is outpacing supply of goods, but businesses are increasing inventory and depressing GDP?
I thought I knew something about the economy, but I fail to see how this can happen.
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There was a recession during Watergate, GDP went down 0.5% and 0.2% in 1975 and 1975. Fed lowered rates in 1976, enjoyed 5.4%, 4.6% and 5.5% growth the next two years, but with significant inflation (remember Ford’s WIN “Whip Inflation Now” buttons?).
Volcker then did the 20% Fed rate hike, which ended inflation, but GDP for the next four years were 3.2%, -0.3%, 2.5%, and -1.8%.
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BD, allow me to add to your confusion. Another element that negatively impacted Q1 GDP is the increase in our trade deficit. Yet Psaki didn’t mention the oil imports attributable to he administration’s energy policies as a “root cause”. (I use that term in deference to Kamala). What’s up with that Jen?
And Mayorkas’ claim that the tripling of illegal immigration on his watch is attributable to the broken immigration system he inherited will give Jen a run for her money in the Baghdad Bob Bull Shit 10K.
Here's a toast with one last pour, may it last forever and a minute more;
Good fortune seems to you have sung, to live and love way past long -
[quote quote=6058]But according to Jenn Psaki, this is a technical correction caused by businesses increasing inventory. Huh? I’m having trouble keeping up with the narrative. We have inflation because demand is outpacing supply of goods, but businesses are increasing inventory and depressing GDP? I thought I knew something about the economy, but I fail to see how this can happen.[/quote]
Little Redlyinghood when to Greenwich High School and got a degree in Sociology from Bill and Mary. She’s not paid for her informed opinion. She’s paid to sound like it. Listening to her clutters the mind.
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