Over the cliff: Durable goods orders drop 13.2% in August; Q2 GDP downgraded from 1.7% to 1.3%. Durable goods drop was “…the worst decrease in almost four years, and a large signal that the American economy is diving into a recession.” Wake us when they announce QE4.
This post was last modified on April 12, 2021
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Every quarter we hear that GDP grew at an 'unexpectedly good pace.'
A few months later the numbers are quietly adjusted back down.
By the end of his first term, Obama will have media reports showing 16 straight quarters of GDP growth. And yet, GDP will be lower than it was when he started.
Comrades, now you know how it felt in the USSR standing in a bread line all day only to read in Pravda the next morning that the wheat harvest was larger than ever before thanks to the benevolent leadership of comrade Brezhnev.
But initial unemployment claims are down.
Looks like people are not even bothering to file now.
President Blightbringer is taking us on a rocket sled to destruction.