Friday, April 29, 2022

Recession? Economy Contracts 1.4%

"In the latest bit of proof that our “experts” are clueless, it’s being widely reported that the
economic decline we all saw coming is “unexpected” by the media.Amidst levels of inflation not seen since the Carter presidency, the Bureau of Economic Analysis released data this morning showing that real (inflation adjusted) U.S. gross domestic product declined 1.4% in the first quarter of the year. That’s despite record government spending that by definition inflates GDP, and as aggressive interest rate hikes that will further slow down growth loom." PopulistPress

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