Legal Insurrection
Experts predicted the economy would expand by 1.1% in the first quarter.
Instead, our Gross Domestic Product contracted by 1.4% in the first quarter. It is the first decrease since 2020.
We had no growth in the first quarter. None. Zilch. Literally negative growth.
People are spending money, but the GDP goes deeper than the consumer aspect. Supply chains are still messed up. We have labor shortages. Prices continue to soar.
From the report:
The decrease in real GDP reflected decreases in private inventory investment, exports, federal government spending, and state and local government spending, while imports, which are a subtraction in the calculation of GDP, increased. Personal consumption expenditures (PCE), nonresidential fixed investment, and residential fixed investment increased (table 2).
The decrease in private inventory investment was led by decreases in wholesale trade (mainly motor vehicles) and retail trade (notably, “other” retailers and motor vehicle dealers). Within exports, widespread decreases in nondurable goods were partly offset by an increase in “other” business services (mainly financial services). The decrease in federal government spending primarily reflected a decrease in defense spending on intermediate goods and services. The increase in imports was led by increases in durable goods (notably, nonfood and nonautomotive consumer goods).
A contraction means no growth:
MORE HERE
We ain’t seen nothing yet!
“Winning !”
-The Left
DON’T JUST WATCH THE INFLATION RHETORIC, WATCH THE TREND:
“TRANSITORY/MOMENTARY”
“THE HIGH INFLATION IS BECAUSE TGE ECONOMY IS SO STRONG AND POSITIVE”
“WE MAVE HAVE TO CONSIDER RAISING THE INTEREST RATE”
“LOOKS LIKE WE’LL HAVE TO RAISE THE INTEREST, BUT ONLY 25 BASIS PTS”
“WE MAY HAVE TO RAISE THE INTEREST RATE 50 BASIS PTS”
“WE MAY HAVE TO RAISE THE INTEREST RATE 50 BASIS PTS, NUMEROUS TIMES”
“WE HAVE A SERIOUS PROBLEM, AND IT’S PUTIN’S FAULT”
“WE HAVE A SERIOUS PROBLEM, AND IT’S PUTIN’S FAULT”
And it’s Putin’s fault because it’s TRUMP’S FAULT!!!11!
And it’s Trump’s fault because you’re all a bunch of bitter, Bible-clinging, racist white folk who cling to guns or religion or antipathy toward people who aren’t like you. And my name is Barack Obama – and you’ve been hoodwinked and bamboozled!! Hahahaha.
“GDP Decreased by 1.4% in First Quarter, First Contraction Since 2020”
…contractions such as this are the labor pains of Communism being born.
As much as Democrats like to kill helpless infants, it’s too bad we can’t get them to abort THIS baby, but since it will grow up to be a mass-murderer as ALL Commmunist states do, of course they want this PARTICULAR one, with US as unwilling surrogate mothers forced to gestate it to its fully fanged horror…
Stagflation redux. Go Team Joe.