US economy shrank 1.4% at beginning of 2022, marking worst quarter in 2 years

Discussion in 'Economics & Trade' started by Joe knows, Apr 28, 2022.

  1. Joe knows

    Joe knows Well-Known Member

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    https://www.foxbusiness.com/economy/us-economic-growth-gdp-first-quarter

    Looks as if Biden’s policies are starting to show. You can’t do what the democrats are doing and expect growth. More red tape on industries that the price markets indicate can grow such as oil as one example is counterproductive to economic growth.
     
  2. Creasy Tvedt

    Creasy Tvedt Well-Known Member

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    Lefties try and put the orange spin on it in 3... 2... 1...
     
    Last edited: Apr 28, 2022
  3. ToughTalk

    ToughTalk Well-Known Member

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    Lol

    Considering the western nations should be increasing trade with eachother to exclude/ replace Russian dependence this is remarkable
     
    Last edited: Apr 28, 2022
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  4. Joe knows

    Joe knows Well-Known Member

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    They can’t. This is their economy now. Trump left a growing economy when Biden came in. Now without COVID he still can’t keep a country growing.
     
  5. Chrizton

    Chrizton Well-Known Member

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    We'll see. I spent less during the first quarter. It was because I wanted to make it out of winter as unscathed as I could because of the insane natural gas bill I got for mid-January to mid-February that was over twice the usual charge because the pass-through costs doubled and I knew I had a big state tax bill to pay on April 15. Car gas I don't worry about as much as some others. I can go three weeks between fill-ups if I have to.
     
  6. kazenatsu

    kazenatsu Well-Known Member Past Donor

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    With housing prices and rents higher, and fuel prices higher, Americans have less money left over to spend on other things.

    That would be my guess.
     
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  7. yangforward

    yangforward Well-Known Member Past Donor

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    The 1.4% reduction is in real GDP in Q1 2022.
     

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