April 29, 2022
America's Massive Economic Bust
This courtesy of Sherrie Mathieson
Tim adds:
Two quarters of negative economic growth mean a recession. Watch for some very dirty tricks next quarter to push the numbers to at least show neutrality. They won't allow Biden to preside over an admitted recession.
Kyle Smith
@rkylesmith
I can’t even wrap my mind around this: GDP growth just went from +6.9 percent last quarter to - 1.4 percent this quarter. That’s worse than the swing from the last quarter of 2019 to the first quarter of 2020 (+1.9 percent to -5.1). Absolute disaster.
Two quarters of negative economic growth mean a recession. Watch for some very dirty tricks next quarter to push the numbers to at least show neutrality. They won't allow Biden to preside over an admitted recession.
Posted by: Timothy Birdnow at
09:45 AM
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1
Well, GDP is a nonsensical measure of economic performance, but I agree with your sentiment. I strongly suspect that the US economy is in even worse shape than those numbers would suggest.
Posted by: Bill H at April 30, 2022 06:18 PM (iW8RX)
2
They use GDP to calculate overall economic growth, but I agree with your point Bill. It's not the best indicator. And I wholeheartedly agree; this economy is in far worse shape than the numbers would indicate.
Shortages and inflation are proof of that.
Shortages and inflation are proof of that.
Posted by: Timothy Birdnow at May 01, 2022 09:17 AM (Ms87g)
3
Awesome blog. I have read and thought about what you said. I have bookmarked it and I am looking forward to reading new articles. Keep up the good work!
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