US GDP falls in first quarter

[Gunny]

FYI. Not surprising.


The U.S. economy retracted slightly in the first quarter as a rush of imported goods and fading fiscal stimulus led to a decline in gross domestic product (GDP), according to data released Thursday by the Bureau of Economic Analysis (BEA).
complete article: https://thehill.com/policy/finance/3469928-us-gdp-falls-in-first-quarter/

[Kathianne]

FYI. Not surprising.


complete article: https://thehill.com/policy/finance/3469928-us-gdp-falls-in-first-quarter/
More perspective:

https://hotair.com/ed-morrissey/2022/04/28/stagflation-arrives-gdp-falls-in-q1-but-n465545

[Gunny]

More perspective:

https://hotair.com/ed-morrissey/2022/04/28/stagflation-arrives-gdp-falls-in-q1-but-n465545I sort of remember how all that works if I really think about it. The most important point is, as the author points out, most people don't look past the surface numbers, They see up or down, good or bad. Kind of how this whole country works in general nowadays.

Speculation at this point, but looming on the horizon is industry and resources having to ramp up to meet supporting a war, and getting Europe off Putin's oil. The politics of such being a topic all its own. Point here is that Biden has committed us to arming Ukraine and Western Europe and all these weapons and materiel have to be replaced, He's going to have to give in on some of his Dem policies to make that happen. From what I've been reading, industry -- especially oil -- is balking his demands for increased production. Raytheon being the most notable arms supplier.

A smart/wise person could make this work as best as it can given the situation. Suffice to say, I think Putin has lost all his arms deals with Europe. Ramping up industry will provide jobs, and even giving Europe a fair deal on supply, we could come out of it back in front of the deficit 8 ball.

And no, I'm not for profiteering, especially from war. I'm also not for giving anything away as we have had a penchant for in the past.