https://www.cnbc.com/2022/04/28/us-q1-gdp-growth.html

What a flipping Joke. Democrats/Left = Regressive in Actuality

CNBC: U.S. economic growth unexpectedly declined in the first quarter by 1.4%
Gross domestic product was expected to grow at a 1% annualized pace in the first quarter, according to Dow Jones estimates.
This is breaking news. Please check back here for updates.

We are in a recession. Trump left the economy on a heater, and captain numbnuts has destroyed it. Way to go, f*cknuts.

(04-28-2022 07:35 AM)natibeast2.0 Wrote:  https://www.cnbc.com/2022/04/28/us-q1-gdp-growth.html

What a flipping Joke. Democrats/Left = Regressive in Actuality

CNBC: U.S. economic growth unexpectedly declined in the first quarter by 1.4%
Gross domestic product was expected to grow at a 1% annualized pace in the first quarter, according to Dow Jones estimates.
This is breaking news. Please check back here for updates.

Welcome to Stagflation, we have low/no economic growth, high inflation, and lots of dirty depends in the White House.

This is all intentional and not mere bumbling.

(04-28-2022 09:00 AM)BigTigerMike Wrote:  This is all intentional and not mere bumbling.

Bingo. The Biden* Administration from Day One has PURPOSELY run the U.S. economy into the ground.

China has ALL sorts of evidence to expose Biden* and his coke-addled son Hunter, so the Big Guy is wholly obedient while following their directives without delay.

Every single action President Xi has promulgated to Biden* and his DS buddies has been designed to bring MAXIMUM pain to the USA. It began with China openly attacking the US in Anchorage in March 2021 during a session with SOS Blinken. These are some highly compromised mothertruckers in this FUBAR Administration.

Elections have consequences and illegal elections have serious consequences.

TOLERATE IT, AMERICA.

LET'S GO BRANDON!

Unexpected?

Bwahahaha

To our half-dead, brainless, spineless, dumb ass president maybe....

But as others have pointed out, it's purposeful.

No ask yourself why it's purposeful? Anyone on the left want to take a stab?

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(04-28-2022 09:48 AM)boss man Wrote:  

(04-28-2022 09:00 AM)BigTigerMike Wrote:  This is all intentional and not mere bumbling.

Bingo. The Biden* Administration from Day One has PURPOSELY run the U.S. economy into the ground.

China has ALL sorts of evidence to expose Biden* and his coke-addled son Hunter, so the Big Guy is wholly obedient while following their directives without delay.

Every single action President Xi has promulgated to Biden* and his DS buddies has been designed to bring MAXIMUM pain to the USA. It began with China openly attacking the US in Anchorage in March 2021 during a session with SOS Blinken. These are some highly compromised mothertruckers in this FUBAR Administration.

Elections have consequences and illegal elections have serious consequences.

TOLERATE IT, AMERICA.

LET'S GO BRANDON!

Bingo! My words exactly

Typically, this is what happens with the Fed. They wait too long and are behind the curve when they begin trying to engineer a soft landing—-which is why soft landing scenarios rarely work out. So, what we have right now is a Fed that waited too long to fight inflation. Now that its finally forced into aggressively fighting inflation by raising interest rates—-it turns out it's raising nearest rates into the teeth of a recession—a full on worst case scenario. And make no mistake---this is a true worst case scenario since the Fed can’t do a thing about the recession because they have no real ammo left to fight a recession (they already have rates at almost zero because they left them too low for too long and only recently began raising them).

The reality? High prices are the natural cure for high prices. The inflationary cycle was caused by too many dollars (the extra mail out stimulus checks) chasing too few goods (due to Covid shut downs). That stimulus money has now largely been spent by consumers and has worked its way out of the system. At this point, consumers are out of stimulus money and back to relying on their normal budgets—-which are now stressed by the higher prices—-causing them to pull back on spending for non-essentials. And—just like that—you have a recession. Now watch as deflation begins to set up shop in portions of the economy—-yup—-you heard it here first. All that chip/electronic inventory backed up in the supply chain will start arriving just as consumers say “we are not spending anymore”. Unfortunately—-we still have substantial inflationary issues in food this year—-so the inflation rate won’t reverse—-but it will decline—-especially with the Fed forced to raise interest rates to rebuild its primary ammo stash for economic pump priming. This recession will be a very deep—-perhaps even one of those dreaded double dip recessions.

So if inflation is only 8%, this is -9.4% real growth. Yikes!

Unexpected? Only by morons.

(04-28-2022 10:19 AM)Attackcoog Wrote:  Typically, this is what happens with the Fed. They wait too long and are behind the curve when they begin trying to engineer a soft landing—-which is why soft landing scenarios rarely work out.

They were on the ball raising rates when Trump was in office.

But yea, after the economy was shown to be back on a heater in Jan 2021 after covid, and with trillions in proposed spending, and paying to keep people from working, and seeing immediate signs of inflation that any nimrod should have known was not transitory, it is criminal that it took the fed over a year to start raising rates.

Now we have stagflation, because of Biden* and the Fed.

The idiot Biden* just said at a press conference "I am not concerned about a recession".

Now, the Big Guy is independently wealthy so he might have meant that LITERALLY: He, Joe Biden, is truly NOT concerned. Gas prices could go up to $10/gal and food costs another 150% by July but he is SO wealthy that those are merely a few more dollars out his bulging pockets.

Talk about NOT getting the big picture. Dude in just not in touch with the average American who has a fairly strict budget. He simply is incapable of grasping the impact on the average American.

I once again call out ALL Biden voters/supporters to justify the idiocy of this incredible statement.

Especially with a disastrous first quarter economic growth DECLINE if 1.4%.

(04-28-2022 10:35 AM)EverRespect Wrote:  So if inflation is only 8%, this is -9.4% real growth. Yikes!

Even scarier is GDP is the key metric used on a macro scale (if not going into the details) when looking at paying off our nation's debt.

I already know we are facked as does most but wonder what those econ professors are saying these days. Most if not all I had seemed to be conservative at least in regards to markets, fiscal policy, economy, social spending, regulations, etc. The amount of money this nation has spent since 2020 is insane but ah fack let's keep sending billions each month to Ukraine!!!


NEVER FORGET MSM and LEFT SAID IT WAS TRANSITORY! Clearly a lie then, and if you believed them well you now have your answer.

(04-28-2022 10:51 AM)boss man Wrote:  The idiot Biden* just said at a press conference "I am not concerned about a recession".

Now, the Big Guy is independently wealthy so he might have meant that LITERALLY: He, Joe Biden, is truly NOT concerned. Gas prices could go up to $10/gal and food costs another 150% by July but he is SO wealthy that those are merely a few more dollars out his bulging pockets.

Talk about NOT getting the big picture. Dude in just not in touch with the average American who has a fairly strict budget. He simply is incapable of grasping the impact on the average American.

I once again call out ALL Biden voters/supporters to justify the idiocy of this incredible statement.

Especially with a disastrous first quarter economic growth DECLINE if 1.4%.

Funny that they were crapping their pants telling us a recession was coming under Trump, which never happened. Now that its happening under the dems, like Tom, they just dont care.

(04-28-2022 09:48 AM)boss man Wrote:  

(04-28-2022 09:00 AM)BigTigerMike Wrote:  This is all intentional and not mere bumbling.

Bingo. The Biden* Administration from Day One has PURPOSELY run the U.S. economy into the ground.

China has ALL sorts of evidence to expose Biden* and his coke-addled son Hunter, so the Big Guy is wholly obedient while following their directives without delay.

Every single action President Xi has promulgated to Biden* and his DS buddies has been designed to bring MAXIMUM pain to the USA. It began with China openly attacking the US in Anchorage in March 2021 during a session with SOS Blinken. These are some highly compromised mothertruckers in this FUBAR Administration.

Elections have consequences and illegal elections have serious consequences.

TOLERATE IT, AMERICA.

LET'S GO BRANDON!

Its not on purpose. Its incompetence and ignorance. Free crap doesnt work long term as an economic engine----but thats what the Democrat Party platform is built on. So---anytime you get too much Democrat Party control on the economy---you can be sure a crash is on its way.

Not surging!!!

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Democrats don't care about GDP, remember.

Of course he is not worried about that. He IS worried about his full depends and what flavor of ice cream Dr. Jill will let him eat tonight.

All these decisions are by design. If Joe is even cognizant of what they are and what will be the result, he has no problem with them, because he gets to play at being the President even if no foreign leaders will take his calls.

Schumer Spills the Beans — Dems Want to Raise Taxes and Make Everything Much Worse

Quote:Joe Biden has been telling a lie. Yes, I know it’s far more than one lie; he’s told many. But one lie keeps cropping up again and again in virtually all his remarks — that he doesn’t intend to raise taxes on people who make under $400,000 a year.

But we’ve already seen how Biden has raised costs on us through inflation, which he also falsely said was “transitory.” His Build Back Broke plan proposed $2.5 trillion in new taxes that would give the U.S. the highest or near-highest tax rates in the developed world. Thank God, it didn’t pass, although that part about raising taxes may not be dead yet.

Joe Biden has been saying Congressional Republicans will raise taxes, and get rid of Social Security and Medicare. That is another big lie, Sen. Mitch McConnell (R-KY) has made it very clear that the Republicans are not going to pass any such thing.

But it turns out, you can’t say the same thing about the Democrats. Senate Majority Leader Chuck Schumer (D-NY) has let the cat out of the bag that they’re still working on going for higher taxes, despite the BBB going down to defeat. Their solution for Americans being crushed by inflation: take even more money out of their pockets.

Listen, as Schumer not only says they’re going to do that, but he also lies about the Trump tax cuts.

From The Blaze:

“Reconciliation is very, very important,” Schumer responded. “If you want to get rid of inflation, the only way to do it is to undo a lot of the Trump tax cuts and raise rates.

“No Republican is ever going to do that. So the only way to get rid of inflation is through reconciliation,” he added.

In other words, Republicans wouldn’t vote to raise tax rates on people. Democrats have to try to slip it through in reconciliation, so they can hope to pass it without getting any Republican votes.

Democrats sparked inflation by going with Biden’s overspending and now, they would make things even worse with more taxes, if they go ahead with this idea.

Meanwhile, they’re lying about the Trump tax cuts, which was one of the reasons that the economy was doing so well under President Donald Trump. The tax cuts helped most Americans — contrary to the lies of the Democrats.

The Blaze piece continued:

“The available evidence is clear: Based on tax data from 2017 and 2018, the Tax Cuts and Jobs Act reduced taxes for the vast majority of filers, led to substantial improvements in upward economic mobility, and disproportionately benefited working- and middle-class households, many of which experienced tax cuts topping 18 percent to 20 percent,” analysis from the Heartland Institute explained.

Ironically, the San Francisco Federal Reserve has attributed the inflation crisis, in part, to Biden’s COVID relief bill, which injected trillions of dollars into the economy.

McConnell hammered home the point — it’s Democrats who are coming for your wallets, big time.

The Wall Street Journal pointed out that Schumer is just flat-out wrong when it comes to tax increases reducing inflation.

This is the same theory that told us the government can spend whatever it wants and not worry about rising prices. The Federal Reserve can simply keep suppressing interest rates and finance whatever politicians spend. Well, Congress and the Fed took Ms. Kelton’s advice, and here we are with the highest inflation in 40 years.

The raise-taxes strategy gets the inflation dilemma exactly backward. Congress and the Federal Reserve pumped up demand for two years to the point that supply couldn’t keep up. The Fed is finally doing its part to suppress demand by belatedly raising interest rates and planning to trim its balance sheet. The main cure for inflation is better monetary policy.

But tax increases would make inflation worse by further suppressing the supply side of the economy. That’s especially true of the corporate tax increases that Mr. Schumer is pitching. They’d suppress productive investment precisely when the economy needs it to offset the Fed’s tighter money. This is what happened in the 1960s and ’70s when higher taxes on corporate profits and individual incomes contributed to inflation by depressing investment and productivity growth.

So, not only would Schumer take money right out of our pockets, he’d make the inflation we’re already suffering even worse because Democrats fail to understand economic policy.