Economic Growth Slows to 1.6% Stagnating Growth plus Inflation = Stagflation. Like Bribed Joe's brain, the US economy slows to a muddle. 'The latest snapshot of the U.S. economy rattled stock and bond markets with two bits of potentially disappointing data: slower economic growth and still-firm inflation.' Gross domestic product only 'expanded at a 1.6% seasonally- an inflation-adjusted annual rate in the first quarter, the Commerce Department said Thursday. That lagged behind the 2.4% projected by economists polled by The Wall Street Journal.' They missed by a 1/3d. The surprise indicates that inflation is worse than they have been admitting. Normally the Fed would reduce interest rates to make borrowing cheaper, but with Bribed Joe's inflation, it will be more difficult to justify making borrowing cheaper. The problem is that with Bribed Joe's Insane level of Federal Spending, it requires a LOT of borrowing, and that's raising the borrowing costs for everyone else, reducing GDP and real wage growth. 'The inflation reading sparked a selloff in bonds, sending yields on the 10-year Treasury note above 4.7% for the first time this year. U.S. stocks fell, meanwhile, with the Dow Jones Industrial Average sliding more than 600 points.' It will only keep getting worse as long as Bribed Joe is stumbling around, his foreign policy is in shambles and he's making up lies about his Uncle getting eaten by Cannibals. If only he spent as much time working on the behalf of the American People as he has spent trying to jail Trump for remaining in the lead in the presidential race. Bribed Joe is the problem. Either RFK or Trump are the solution.
on a positive note. Its forced me to be healthier. One can only get so many $30 dollar burgers before saying "Enough, its rice and beans time"
It costs $30 for a burger where you live? Do you live in CA? I live in MA in rural area and a burger with a side is $19 at one local place. Sucks for you that you can’t afford more than “rice and beans” now. You made your choices…now gotta live with them I guess.
Oh yes of course.... We know, it's all those evil Republicans fault and there's not a damn thing that Democrats do that ever contributes to inflation. You can keep selling that rotten fish all you want but the problem is, is that no one who isn't already buying, is going to buy that poppycock
they choose to raise the interest rates, and made the mistake of saying out loud it was to keep wages low
I'm sure the policies of the Democrats who control the majority of the government have nothing to do with any of it
it was related to global supply issue due to covid, greed Corporations, Trump tariffs and the Interest Rates
Bribed Joe's Folly “This was a worst of both worlds report — slower than expected growth, higher than expected inflation,” said David Donabedian, chief investment officer of CIBC Private Wealth US. “The biggest setback is the acceleration in core inflation, and in particular, the services sector rising above a 5% annual rate.” https://www.foxbusiness.com/economy/us-gdp-economy-first-quarter-2024
Political year tariffs. U.S. to Announce New Tariffs on Chinese Electric Vehicles The Biden administration is set to announce new tariffs on Chinese electric vehicles and other goods as early as next week, according to people familiar with the matter, as President Biden looks for ways to protect America’s nascent clean energy sector from a surge of cheap Chinese imports. That's great, but what about the Chinese EV plants being built in Mexico? Those are the real threat since they can sneak in under USMCA. We know what Trump said he was going to do, what is the Biden administration going to do?
FJB's "bidenomics" has decimated the working and middle class budgets. Our inflation stats do not include interest costs, which have skyrocketed under FJB. Think "skyrocketed" is too strong a term? Check this out: During the Trumpian Era of rising wages and living standards, Americans were able to meet more and more expenses without relying on debt, and so the amount of personal interest they paid FELL by 15.4%. Then FJB, benefitting from an election rigged by the corrupt FBI and CIA who lied about Hunter's laptop, claiming it was "Russian Disinformation" rather than what it was, a straightforward accounting the Bribed Biden Criminal Enterprise, took over, and exploded inflation driving real wages downward. Under FJB, Americans personal interest cost have risen by 112.5%! In just 3 years, and this cost is NOT captured in our inflation numbers. The CPI does not record interest costs. These costs have risen faster in the 3 years of FJB, than in the previous 50 years. So as you listen to the coordinated lying fake news disinformation media shaking their heads in mock wonder over why Americans do not understand how 'wonderful' they have it under FJB's Bidenomics, try to figure out if the talking heads are bald-faced liars or merely deluded idiots yacking in the service of the DNC.
The economy is improving but it has been slow. Any suggestions for policies that could improve its performance?
Get rid of Biden. He's never going to cut the deficit spending that is driving inflation and shrinking our dollars while they sit in our pockets. Wholesale Inflation Jumps Again to Highest Level in a Year Wholesale inflation is upstream from retail inflation and will show up soon enough in retail prices. UNEXPECTEDLY! Economists are "surprised" each month at how badly things suck under Bidenomics. Never trust an economist with a perpetual look of "surprise" on their face. Wholesale inflation unexpectedly jumps again to highest level in a year. I'm not surprised, and I'm not even an economist. We're running up another $Trillion in Federal Debt every 100 days. Let me tell you a secret, these economists aren't 'surprised' either. Honestly, Republicans are greatly disappointing me as well.
The US under FJB is now racking up an additional $T in debt, every hundred days. That's what is driving stagflation.
I know what I'd like to see him do, and what FJB surely won't do, but politicians seldom meet my expectations. And why communicate through me? If you have a question for him, contact the campaign. You aren't actually helpless, you know. The McDonald's theory of why everyone thinks the economy sucks. 'Americans are spending as much of their paychecks as ever on fast food — and everything else.' Folks are spending more than the inflation increase picked up in the official stats. And they're pissed off about it. 'Inflation — the price of a fixed basket of goods — increased a lot during this period: by 16 percent. But consumption increased by considerably more than that: by 25 percent. That’s right. From December 2020 through June 2023, Americans’ financial outlays increased by 25 percent. ' https://www.natesilver.net/p/the-mcdonalds-theory-of-why-everyone Read the whole thing.
Inflation is a problem. I am interested about how both parties plan to deal with it. I did look at the Republican Platform and found that they do not have one the last platform was written 9 years ago. I looked at the MAGA website and there is no mention of any plan to deal with inflation. I remember a promise in 2016 that they would erase the national debt in 8 years, yet they increased it in all of the 4 years they had control of the economy. My grand dad told me to " never buy a pig in the poke." I am willing to listen and evaluate policies from both sides, but it is not easy to evaluate promises that have no plan.
