GDP rose 2.9% in 4th quarter

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floridafan

Verified User
Fourth-quarter gross domestic product, the sum of all goods and services produced for the October-to-December period, rose at a 2.9% annualized pace, the Commerce Department reported Thursday. Economists surveyed by Dow Jones had expected a reading of 2.8%.

The growth rate was slightly slower than the 3.2% pace in the third quarter.

Stock market futures rose following the report while Treasury yields were mostly higher as well.

Consumer spending, which accounts for about 68% of GDP, increased 2.1% for the period, down slightly from 2.3% in the previous period but still positive.

Inflation readings moved considerably lower. The personal consumption expenditures price index increased 3.2%, in line with expectations but down sharply from 4.8% in the third quarter. Excluding food and energy, the chain-weighted index rose 3.9%, down from 4.7%.
 
28 months ago Donald Trumpf practically guaranteed an unprecedented economic depression of apocalyptic proportions if Americans dared elect Biden.
 
But perhaps most troubling is the precipitous drop in real disposable income, which fell over $1 trillion in 2022.

For context, this is the second-largest percentage drop in real disposable income ever, behind only 1932, the worst year of the Great Depression. To keep up with inflation, consumers are depleting their savings and burning through the "stimulus" checks they received during 2020 and 2021. Credit card debt continues growing, while savings plummeted $1.6 trillion last year, falling below 2009 levels.
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https://www.foxbusiness.com/markets/gdp-report-reveals-ominous-great-depression-warning-sign-1932

Buckle up Fuckers....this is going to hurt.
 
It illusion of a sound economy is being supported by the making of new dollars, which is ending, is ruining the dollar, is ruining America's credibility, and is playing right into the hands of The New Chinese Empire.

Crushing poverty is right around the corner for huge portions of the American people.
 
Hawkeye10 said:
Buckle up Fuckers....this is going to hurt.
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It honestly feels like we are in some sort of time-loop. We are slowly re-visiting the 1920's and 1930's. We've got a global pandemic and the rise of nationalism and fascism and dictatorships all over the place. So, sure, why not throw in a Depression?
 
Cypress said:
28 months ago Donald Trumpf practically guaranteed an unprecedented economic depression of apocalyptic proportions if Americans dared elect Biden.
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Why anyone would be surprised at economic fluctuations after a once-in-a-century global pandemic and associated loss of huge chunks of the economy is beyond me. And how they find a way to blame Biden for it is equally bizarre.

I don't even blame Trump! (But if Trump hadn't been such a moron we might have handled the early pandemic better, but it would be tough no matter who was doing it. Even someone who WASN'T suffering from the effects of late-stage tertiary syphillis.
 
Perry Phimosis said:
It honestly feels like we are in some sort of time-loop. We are slowly re-visiting the 1920's and 1930's. We've got a global pandemic and the rise of nationalism and fascism and dictatorships all over the place. So, sure, why not throw in a Depression?
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The difference this time is that the Chinese are determined to bury us for as far as the eye can see as retribution for what they consider to be our crimes. All of the dying West will be hurt, but America most of all.
 
floridafan said:
Fourth-quarter gross domestic product, the sum of all goods and services produced for the October-to-December period, rose at a 2.9% annualized pace, the Commerce Department reported Thursday. Economists surveyed by Dow Jones had expected a reading of 2.8%.

The growth rate was slightly slower than the 3.2% pace in the third quarter.

Stock market futures rose following the report while Treasury yields were mostly higher as well.

Consumer spending, which accounts for about 68% of GDP, increased 2.1% for the period, down slightly from 2.3% in the previous period but still positive.

Inflation readings moved considerably lower. The personal consumption expenditures price index increased 3.2%, in line with expectations but down sharply from 4.8% in the third quarter. Excluding food and energy, the chain-weighted index rose 3.9%, down from 4.7%.
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Gas prices are increasing and heating expense will take a huge bite in consumers income. The GDP decreasing is a sign the economy is going south
 
ptif219 said:
Gas prices are increasing and heating expense will take a huge bite in consumers income. The GDP decreasing is a sign the economy is going south
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GDP increased. And you think the people will burn through stimulus checks they got 2 years ago? You are starving for anything nearing logic. You are lost.
 
ptif219 said:
Gas prices are increasing and heating expense will take a huge bite in consumers income. The GDP decreasing is a sign the economy is going south
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The GDP decrease was insignificant, but goes to prove that there is no recession. Instead of being so negative sweetie, why dont you give some credit where it is due?
 
Nordberg said:
GDP increased. And you think the people will burn through stimulus checks they got 2 years ago? You are starving for anything nearing logic. You are lost.
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People do not want to work. Gas prices have increased 30 cents in the last couple of weeks. As gas proces rise so will inflation
 
ptif219 said:
Gas prices are increasing and heating expense will take a huge bite in consumers income. The GDP decreasing is a sign the economy is going south
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My natural gas bill went up more than 30% Home heating oil is even worse. Groceries are sky high. Gas is going back up. A f#*%ing candy bar is $1.50!


FJB
 
RB 60 said:
My natural gas bill went up more than 30% Home heating oil is even worse. Groceries are sky high. Gas is going back up. A f#*%ing candy bar is $1.50!


FJB
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Do you blame Putin for starting the war? Biden did not cause those things. Gas company profits went to all-time highs. Do you think their looting has something to do with the prices?
 
Nordberg said:
Do you blame Putin for starting the war? Biden did not cause those things. Gas company profits went to all-time highs. Do you think their looting has something to do with the prices?
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Putin, Putin, Putin! Is that all you libs can whine about? Biden's plan on natural gas and drilling stifled the development of our natural resources.

Yeah, I blame Biden. Not just for his "green save the planet" shit, but his show of America weakness and his ignorance.


FJB
 
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