Economists (the Corporate/Government Shill Types) Expected the Economy to Expand (for Some Reason) by 1.1%, a Slight Slowdown From 2021’s 4th Quarter; US Economy Shrank 1.4%
The U.S. GDP shrank at a rate of 1.4% in the first quarter of this year. It’s likely that number is worse considering everything we know they do with the inflation numbers to make those seem better than reality. To top it off, “economists” were expecting a growth rate of 1.1%. ANY growth expected by anyone at this point just seems insane. This is the worst GDP report in two years.
Kenneth Rogoff, a Harvard economist, is apparently “so shocked” at the economy shrinking, that I’m shocked he even has a degree at all. What are they teaching over there in Harvard now-a-days? Oh, right. CRT and woke cultist BS. Watch and listen to the “expert.”
“Today’s shock drop in GDP is a wake-up call that the economy isn’t as strong as we all thought,” said Chris Zaccarelli, chief investment officer for Independent Advisor Alliance. “It’s possible that GDP gets revised higher next month, as this is just the first release and there will be two revisions, but it is a warning sign.”
No, Chris. The warning signs have been shown, ignored and passed by. This is the part of the horror movie where a group of people, having ignored all the signs, are now being slaughtered by the killer. Keep up, Chris.
It’s okay, though, because Cliff Hodge of Cornerstone Wealth says to hold his beer. He doesn’t seem to think the economy is bad. This news is “neutral.”
“Huge miss on GDP this morning, but just looking at headlines is misleading,” said Cliff Hodge, chief investment officer for Cornerstone Wealth. “We’d rate the report neutral overall. Trade, inventories and government spending all dragged, but the consumer held up and business investment was strong.”
That’s right. Mr. Hodge seems to think consumer spending and investment is strong still. Maybe because prices are up so much from inflation? Ever think of that?
Let’s ignore these people who live in bubbles for a minute and find out what people on the ground are dealing with. It’s time to hear from you. What do YOU think about this news and how does the economy seem like it’s doing to you?