The Great Economic Growth Hoax

[psk836]

It's just more of that counterfeit printed wealth progressives are so fond of.

https://www.theepochtimes.com/opinion/t ... digitalsub

"For a few days, ever since the supposedly amazing GDP report from the fourth quarter of 2023, we’ve been blasted by the media about how great the economy is doing. It’s exasperating because these claims don’t fit with human experience.

Last we heard from the Census Bureau, real income is down, and no one doubts it. Everyone has felt strong downgrades in living standards over these past four years."

"The essential ruse comes down to unfathomable amounts of government spending that is being recorded as productivity and output, and interpreted by media as growth.

“In the past 12 months, the federal deficit increased by $1.3 trillion. Yet we only got half that in GDP—about $600 billion. In other words, everything else shrank. It’s even worse for that brave and stunning Q4—there we got just $300 billion in extra GDP for—wait for it—$834 billion of new federal debt.”
To put a fine point on it: “Essentially, [GDP is measuring] the pace at which we’re going Soviet, replacing private wealth with government waste.” In his interpretation of the data, we are destroying wealth at the fastest rate since 2008."

[psk836]

https://www.zerohedge.com/markets/gdp-n ... ge-problem

Earlier today we reported that according to Biden's Bureau of Economic Analysis, in the fourth quarter US GDP grew at a torrid 3.3% pace, which was a 5-sigma beat to consensus estimate of 2.0% and also came in well above the highest Wall Street forecast. We also laid out the components that accounted for the growth: mostly the lack of inventory destocking (which means growth will be subtracted in Q1 instead), a bizarre jump in exports despite the soaring dollar, and last but not least, a jump in healthcare spending and a surge in RV purchases.

Yes, bizarre, but whether the GDP growth number was realistic or not (spoiler alert: the latter) is less important than what funded said growth. And it is here that we reveal something shocking: the chart below shows the Q4 change in GDP in nominal dollars as well as the corresponding increases in the US budget deficit (because the last time the US actually had a surplus was last century) and the increase in debt.

The result, for better or worse, speak for themselves: while Q4 GDP rose by $329 billion to $27.939 trillion, a respectable if made up number, what is much more disturbing is that over the same time period, the US budget deficit rose by more than 50%, or $510 billion. And the cherry on top: the increase in public US debt in the same three month period was a stunning $834 billion, or 154% more than the increase in GDP. In other words, it now takes $1.55 in budget deficit to generate $1 of growth... and it takes over $2.50 in new debt to generate $1 of GDP growth!"

[Chester Cheesewright]

It's just more of that counterfeit printed wealth progressives are so fond of.

https://www.theepochtimes.com/opinion/t ... digitalsub

"For a few days, ever since the supposedly amazing GDP report from the fourth quarter of 2023, we’ve been blasted by the media about how great the economy is doing. It’s exasperating because these claims don’t fit with human experience.

Last we heard from the Census Bureau, real income is down, and no one doubts it. Everyone has felt strong downgrades in living standards over these past four years."

"The essential ruse comes down to unfathomable amounts of government spending that is being recorded as productivity and output, and interpreted by media as growth.

“In the past 12 months, the federal deficit increased by $1.3 trillion. Yet we only got half that in GDP—about $600 billion. In other words, everything else shrank. It’s even worse for that brave and stunning Q4—there we got just $300 billion in extra GDP for—wait for it—$834 billion of new federal debt.”
To put a fine point on it: “Essentially, [GDP is measuring] the pace at which we’re going Soviet, replacing private wealth with government waste.” In his interpretation of the data, we are destroying wealth at the fastest rate since 2008."

► I can tell you what’s wrong with that post just by looking at that blue line

[Evil]

[Chester Cheesewright]

https://www.zerohedge.com/markets/gdp-n ... ge-problem

Earlier today we reported that according to Biden's Bureau of Economic Analysis, in the fourth quarter US GDP grew at a torrid 3.3% pace, which was a 5-sigma beat to consensus estimate of 2.0% and also came in well above the highest Wall Street forecast. We also laid out the components that accounted for the growth: mostly the lack of inventory destocking (which means growth will be subtracted in Q1 instead), a bizarre jump in exports despite the soaring dollar, and last but not least, a jump in healthcare spending and a surge in RV purchases.

Yes, bizarre, but whether the GDP growth number was realistic or not (spoiler alert: the latter) is less important than what funded said growth. And it is here that we reveal something shocking: the chart below shows the Q4 change in GDP in nominal dollars as well as the corresponding increases in the US budget deficit (because the last time the US actually had a surplus was last century) and the increase in debt.

The result, for better or worse, speak for themselves: while Q4 GDP rose by $329 billion to $27.939 trillion, a respectable if made up number, what is much more disturbing is that over the same time period, the US budget deficit rose by more than 50%, or $510 billion. And the cherry on top: the increase in public US debt in the same three month period was a stunning $834 billion, or 154% more than the increase in GDP. In other words, it now takes $1.55 in budget deficit to generate $1 of growth... and it takes over $2.50 in new debt to generate $1 of GDP growth!"

► Republicans always complain about the deficit when a Democrat is president

[clusterchuck]

GoodNews.jpg

“The good news is the probability of a recession is down sharply, according to The Wall Street Journal’s latest survey of economists. The bad news is that, for a lot of people, it is still going to feel like a recession.”


IOW: just because you dollar doesn't buy what it once did, "economists" explain how you perceive your dwindling buying power.

What are you gonna believe, your lying life circumstance - or what experts tell you to think?