US economy contracted more than initially reported in Q1 as consumption dropped

Discussion in 'Current Events' started by Bluesguy, Jun 29, 2022.

  1. Bluesguy

    Bluesguy Well-Known Member Donor

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    -1.6%

    And what do we get from the administration? Finger pointing, "hey don't blame us and don't expect us to do anything about it but to continue pointing fingers and blaming everything but our policies".

    I'm tired of hearing them constantly tell us how much thing think about it, how concerned they are about it, how they are meeting about it, how they are talking about it and how much empathy they have for those who aren't protected from it in their cushy government jobs.

    What is the PLAN to stop the Bidenflation policies of more and more free money and free stuff and the government simply absorbing cost to pass on to others.

    US economy contracted more than initially reported in Q1 as consumption dropped

    The U.S. economy shrank at an annualized pace of 1.6% in the first quarter, reflecting a deeper contraction than previously reported.

    The Bureau of Economic Analysis's third and final estimate of first-quarter GDP
    released Wednesday morning showed a 1.6% annualized drop in economic growth to start 2022, more than the 1.5% previously reported and which was expected by economists, according to estimates from Bloomberg.

    Last quarter marked the first drop in GDP since the second quarter of 2020, the COVID-19 pandemic upended the global economy. In the fourth quarter of 2021, real GDP increased 6.9%.
    https://finance.yahoo.com/news/us-g...rate-in-q-1-revised-data-shows-123846851.html
     
    Last edited: Jun 29, 2022
  2. cd8ed

    cd8ed Well-Known Member Past Donor

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    This is what has to happen to prevent massive inflation. The economy has to cool off from the massive cash injections from this and the prior administration.

    No matter what happens y’all are going to complain. I am glad that they are already trying to prevent a collapse instead of only worrying about numbers, had we had this previously we would be in better shape to tackle it.

    Who could have know that QE when the economy wasn’t in a recession to prop up failed policy wasn’t a good idea?
     
  3. Arkanis

    Arkanis Well-Known Member

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    The best case scenario is a GDP growth of 1 to 1.5% for Q2.

    This, combined with the FED rate hike, will curb inflation.
     
  4. HockeyDad

    HockeyDad Well-Known Member Past Donor

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    I opposed the lockdowns and I opposed the bailouts. Your side screamed for them. This is what you wanted. You screwed the entire world. Not to mention that Fauci used our tax dollars illegally to fund the research in China that resulted in this virus. In a sane world, Fauci would be on trial for his life and we would have assessed a 10 trillion dollar penalty on China. Given that we are run by a cabal of traitors, none of the people responsible will be punished. Instead they will be rewarded with a continuing wealth transfer from the American middle class.
     
    Last edited: Jun 29, 2022
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  5. cd8ed

    cd8ed Well-Known Member Past Donor

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    Ah yes, it was the Democrats fault when they held 1/2 of one branch of three branches of government.

    LOL
     
  6. Oldyoungin

    Oldyoungin Well-Known Member

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    Democrats ****ing the economy up is never a surprise. Its standard
     
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  7. doombug

    doombug Well-Known Member

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    Thanks Biden.....
    download.jpeg-5.jpg
     
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  8. Oh Yeah

    Oh Yeah Well-Known Member Past Donor

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    Two quarters of contraction is considered the start of a recession. Hang with Joe and you'll will be able to experience a depression.
     
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  9. Bluesguy

    Bluesguy Well-Known Member Donor

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    The second ain't looking any better either in fact many are saying inflation accelerated 2nd quarter.
     
  10. Bluesguy

    Bluesguy Well-Known Member Donor

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    A Bidenession to cure the Bidenflation.........................gotcha! And Biden has no plan but to blame it on everyone and everything besides his own policies and actions and those of his fellow Dems. The economy was recovering just fine from the previous administration it was Biden who went back into stimulus mode and huge placate his leftwing supporters with his antibusiness actions, promise for higher taxes more regulation more control over private business and SEE MY SIG.

    No here is where I won't complain, when the Dems are no longer in office passing their huge inflation feeding and anti-business and anti-energy policies and regulations and when we bring down inflation was some sense of a same monetary and fiscal policy and get out of the way of the free market and get the economy back on track. Biden failed the last time he was in charge of that and he is doing so exponentially this time.
     
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  11. Bluesguy

    Bluesguy Well-Known Member Donor

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    Biden and the Dems were handed an economy in recovery stop blaming Trump for the policies THEY did not have to pass and have now gotten us to where we are.
     
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  12. cd8ed

    cd8ed Well-Known Member Past Donor

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    Are you asserting that this wouldn’t be happening if Republicans wouldn’t have been fired for failing so miserably for 4 years? Because economists disagree.
     
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  13. cd8ed

    cd8ed Well-Known Member Past Donor

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    That doesn’t really match up with figures but ok…
    This is one of the most right wing sources I can find
    [​IMG]

    If you look these metrics were already increasing prior to his inauguration, when Republicans had control of the executive, the judicial and half the legislative branch. Would you like me to explain what a trend line is?
     
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  14. doombug

    doombug Well-Known Member

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    A trend is one thing but FACTS are different. The FACT is this is ALL on Biden.

    Screenshot_20220211-055648_Samsung Internet.jpg
     
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  15. cd8ed

    cd8ed Well-Known Member Past Donor

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    Trend lines are a form of statistical analysis, I understand that may be a tad much for some.
     
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  16. hawgsalot

    hawgsalot Well-Known Member

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    LOL yeap the trend lines are fairly obvious I would say, skyrocketing straight up.
     
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  17. Zorro

    Zorro Well-Known Member

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  18. Moolk

    Moolk Banned

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    Brandon has failed every step of the way.

    He claimed Trump has no plan for Covid but he does…only to literally throw his hands up and quit once he was president.

    Brandon claimed the buck stops with me but had done nothing but blame everyone but himself for his inability to make a good economy.

    nothing is his fault despite being president with direct control over policies that help economic recovery.

    Dems don’t know how to lead.
     
    Last edited: Jun 30, 2022

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