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The US economy unexpectedly shrank in the first quarter of the year as businesses prepared for tariffs

anatta said:
but food and gas are not "exploding".. look at the rest
www.breitbart.com

100 Days: Inflation Falls To Zero Even as Income and Spending Grow

100 days into the Trump administration, inflation has come down to zero. | Economy
www.breitbart.com www.breitbart.com
The good news on prices was not caused by a weakening American consumer. Inflation-adjusted consumer spending rose 0.7 percent, the strongest gain in over a year. Durable goods purchases jumped 3.2 percent, while services spending climbed 0.6 percent. The spending surge followed a February revision upward, showing that households had already been ramping up consumption before the March acceleration.

Real disposable income increased 0.5 percent, wages and salaries climbed 0.5 percent, and farm income soared, boosted by commodity assistance payments. The personal saving rate held steady at 3.9 percent, indicating households are not burning through cash to sustain spending.


Over the entire first quarter, core PCE inflation ran at a 3.5 percent annualized pace, largely reflecting stronger readings in January and February. But March’s flat result resets the trajectory and bolsters the case that inflation is stabilizing — even as consumer spending and business investment expands.
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Be careful quoting Breitbart stats. I earlier used that article to make a larger non-statistical point.

I'm not going to delve into corroborating their data. Who knows? It could be accurate. But, I wouldn't take them at their word without corroborating their data (& especially looking for what they've left out!).
 
Airyaman said:
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I saw this and just had to laugh. What a moron.

I guarantee Fox "News" will repeat the second viewpoint to the point of exhaustion.

I hope someone with the resources will provide snippets of Fox "News" taking both Truth Social posts equally seriously at the time.
 
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Artie1954 said:
How many of Mr. Trump's cheerleaders trot out that nonsense when the stock market rose under Mr. Biden? And then now how many of them are still blaming Biden when it goes the other way.
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Artie1954 said:
It's like they have built themselves a fortress of liesthat no logic may penetrate.
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Very well stated! (y)
 
This is just the beginning though if nothing is done about Trumps policies, inventories will not last you forever that were stockpiled. Next is decreased overall imports and exports, shutting down or cutbacks in enterprises because they can't operate due to absent import or denied export and then this will tank consumer confidence even further and increase unemployment and finally long term US enterprises in general will become less competitive compared to others who can trade normally. Even service companies rely on goods to a large degree to do their work.
 
jpn said:
I saw this and just had to laugh. What a moron.

I guarantee Fox "News" will repeat the second viewpoint to the point of exhaustion.

I hope someone with the resources will provide snippets of Fox "News" taking both Truth Social posts equally seriously at the time.
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MAGA sheep will take up the bleat, just as soon as their media gives them the words.

1746041127800.webp
 
Don't worry folks! Expert economist Peter Navarro used his sharpest pencil to figure this all out:

"Peter Navarro on CNBC reacts to the shrinking GDP number by insisting it's actually good news because if you strip out the effect of tariffs "you have 3 percent growth. So we really like where we're at now."
 
anatta said:
but food and gas are not "exploding".. look at the rest
www.breitbart.com

100 Days: Inflation Falls To Zero Even as Income and Spending Grow

100 days into the Trump administration, inflation has come down to zero. | Economy
www.breitbart.com www.breitbart.com
The good news on prices was not caused by a weakening American consumer. Inflation-adjusted consumer spending rose 0.7 percent, the strongest gain in over a year. Durable goods purchases jumped 3.2 percent, while services spending climbed 0.6 percent. The spending surge followed a February revision upward, showing that households had already been ramping up consumption before the March acceleration.

Real disposable income increased 0.5 percent, wages and salaries climbed 0.5 percent, and farm income soared, boosted by commodity assistance payments. The personal saving rate held steady at 3.9 percent, indicating households are not burning through cash to sustain spending.


Over the entire first quarter, core PCE inflation ran at a 3.5 percent annualized pace, largely reflecting stronger readings in January and February. But March’s flat result resets the trajectory and bolsters the case that inflation is stabilizing — even as consumer spending and business investment expands.
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Our current inflation rate is 2.4%, how did it "fall to zero"?
 
Chomsky said:
Yep. Eschew education and growth industries, and the bolded is what you get!

How is it MAGA suffers generation after generation, yet my kids embarking on life are doing fine and prospering, with bright futures?

Hint:

"I'm not MAGA. I value education leading to personal economic growth, via positioning myself & my family in lucrative economic growth segments. And I instilled my ideology in my children."

I switched careers three times over my lifetime (currently still doing two of them). Before even coming out of school (the first time), I physically relocated across my metro area to be in the geographical hub of my first career - so I could be in the middle of all the action.

Of course, it paid-off. I was surrounded with job and networking opportunities in a growth industry, and had acquired the required education and skills to enter & succeed. How could it not pay-off?

And, it wasn't hard. It usually isn't, in growth industries. Trust me, I met my share of totally marginal people that made reasonable money - by virtue of their being in an in-demand high-growth industry.

So, sorry, I don't buy the MAGA 'loser' b.s. mentality. Waiting generations for a politician's promise to resume your father's coal-mining job, or for them to build a factory like your father once had, is total freaking insanity. I can't imagine putting my wife & children through the hell of economic suffering & misery.

I have little sympathy for MAGA and what they've done to themselves. And now, it seems they are trying to extend their economic suffering to all of us.
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Decade after decade election after election the GOP base buys into the bullshit their candidates feed them. They promise the moon but only get lip service after they are elected. The same southern states controlled by republicans for decades stay poor and yet those same poor people vote republican and watch their benefits disappear because they voted republican. FEMA, don't bet on any money being there when hurricane season hits again and forget about Medicaid, your leadership has also deemed that unnecessary for the poorest among us.
 
bongsaway said:
Decade after decade election after election the GOP base buys into the bullshit their candidates feed them. They promise the moon but only get lip service after they are elected. The same southern states controlled by republicans for decades stay poor and yet those same poor people vote republican and watch their benefits disappear because they voted republican. FEMA, don't bet on any money being there when hurricane season hits again and forget about Medicaid, your leadership has also deemed that unnecessary for the poorest among us.
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We are only poor because those free loader city blacks take all our money and tax us!
 
bongsaway said:
Decade after decade election after election the GOP base buys into the bullshit their candidates feed them. They promise the moon but only get lip service after they are elected. The same southern states controlled by republicans for decades stay poor and yet those same poor people vote republican and watch their benefits disappear because they voted republican. FEMA, don't bet on any money being there when hurricane season hits again and forget about Medicaid, your leadership has also deemed that unnecessary for the poorest among us.
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1746045323713.webp
 
W_Heisenberg said:
What's happening today is the market responding to actual data. The PCE and GDP numbers are actual data, hard data. They're not rumor, scandal, anticipation. There's also the ADP payroll report indicating weakening job growth. This is bad. All of this data is bad and likely does not reflect the damage done to the economy after "liberation" day. And we still have no deals! The economy is going to get worse because Trump is an idiot and he's going to keep applying the tariffs while his incompetent team runs around talking about frameworks, sketches, and subdeals of deals, but can't seem to wrap up a single deal.
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Correction: “Obliteration Day” not “Liberation Day.”

Call it what it actually is/was. An obliteration of wealth and prosperity.
 
NuffSaid said:
Welp, that sucks.
I hope the trend is reversed for the next quarter.
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Trump has already told us the next quarter will be worse. He’s blaming the first quarter on Biden and now he’s planning to do the same for the second quarter.

This is Biden,” Trump said after the Commerce Department reported gross domestic product declined in the first three months of this year.

“And you could even say the next quarter is sort of Biden because it doesn’t just happen on a daily or an hourly basis,” he said during a Cabinet meeting at the White House.
 
Peter Navarro said, that if you take out the effects of the tariffs, the economy is doing great!!!


Reminds me of the saying, "Other than that, Mrs. Lincoln, did you enjoy the play?"
 
George50 said:
Trump has already told us the next quarter will be worse. He’s blaming the first quarter on Biden and now he’s planning to do the same for the second quarter.

This is Biden,” Trump said after the Commerce Department reported gross domestic product declined in the first three months of this year.

“And you could even say the next quarter is sort of Biden because it doesn’t just happen on a daily or an hourly basis,” he said during a Cabinet meeting at the White House.
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Worthless wank stain did enough damage unleashing worm-addled RFK on the nation's health and research infrastructure, but no - His Majesty just HAD to be the one to set the biggest fire to America with his disastrous economic "concepts of a plan."

So maybe we should be thankful - our retirement is destroyed, but thanks to RFK we'll all be too dead to suffer the consequences!
 
Integrityrespec said:
Well, the market is fluid and it responds to rumor, scandal, anticipation, and with the left media and the democrat party screaming about disaster on the horizen, I expect this adds to the chaotic state of affairs in the market and in the business world. Schumer calls it the 100 days from hell, what the hell do you expect when one party is out there trying to sink the Republican Presidents programs. Not sink it for any reason other than they want to harm him, harm the republicans, and all that harms the nation, but they want power.
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Anyways...
 
George50 said:
Trump has already told us the next quarter will be worse. He’s blaming the first quarter on Biden and now he’s planning to do the same for the second quarter.

This is Biden,” Trump said after the Commerce Department reported gross domestic product declined in the first three months of this year.

“And you could even say the next quarter is sort of Biden because it doesn’t just happen on a daily or an hourly basis,” he said during a Cabinet meeting at the White House.
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Did he say what quarter it won't be Biden?
 
Oh my GOD!!! Oh dear Jeezus!

Instead of failing 0.2 it fell 0.3!!!!

Get out your calculator app!!!! (because you cant do math, and are therefore susceptible to bullshit like this)

That is 50% more HORRIBLE!!! AAAAAAH! AHHHHHHHRGH! I am BURNING!!!! AHHHHHHGHGHGHAAGHHGHGHAGGH!!
 
Integrityrespec said:
Well, the market is fluid and it responds to rumor, scandal, anticipation, and with the left media and the democrat party screaming about disaster on the horizen, I expect this adds to the chaotic state of affairs in the market and in the business world. Schumer calls it the 100 days from hell, what the hell do you expect when one party is out there trying to sink the Republican Presidents programs. Not sink it for any reason other than they want to harm him, harm the republicans, and all that harms the nation, but they want power.
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:ROFLMAO: :ROFLMAO:

Well that's one take I suppose, which makes sense for the endless grievance crowd. However, for investors it's a very different calculus since they're looking at future growth and how the tariffs will affect that, and just about everyone thinks they are bad for growth and trade. Democrats have nothing at all to do with what's going on in the market because they are not the ones imposing or removing tariffs. Just because the US president insisted on a dumb policy and the market reacted doesn't mean it's everyone else's fault.
 
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