The United States economy shrank by a shocking 1.4% in the First Quarter of 2022, tanking hopes of a recovery following the global covid pandemic and record high unemployment.
“Today’s shock drop in GDP is a wake-up call that the economy isn’t as strong as we all thought,” explained Chris Zaccarelli, chief investment officer for Independent Advisor Alliance. “It’s possible that GDP gets revised higher next month, as this is just the first release and there will be two revisions, but it is a warning sign.”
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Breaking GDP
You are going to hear a lot of folks say don't worry GDP was -1.4% in 1Q22 because it was all about inventories and exports. Of curse they cheered on massive inventory building that lifted 4Q21.Its a big miss and a yellow flag in grand scheme
— Charles V Payne (@cvpayne) April 28, 2022
“Global economic prospects have been severely set back, largely because of Russia’s invasion of Ukraine,” Pierre-Olivier Gourinchas, the IMF chief economist, wrote. “This crisis unfolds even as the global economy has not yet fully recovered from the pandemic.”
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Biden stutters, and it is truly sickening that all you do for 10 minutes is imply that he has a mental deficiency because he mangles a few words. You’re simply a petty schoolyard bully for it. It’s pathetic.
And no, inflation and fuel is high all over the world. US oil production is actually up about 800,000 barrels over the May 2020 low (when Trump was in office). Biden has nothing to do our economic issues, and Trump wasn’t dealing with the aftermath of a global pandemic.. You distort and misrepresent the economy all the time. You need to be called out far more for it, as do the other misinformation peddlers on wingnut media.
Plus, Pags is a coward, who can’t even allow a critical comment to stay up for two hours. A truly pathetic and angry human being, who makes money telling other pathetic and angry human beings what they want to hear, to keep them angry and pathetic.
I also suspect I know why you have no sons. It’s really tiny, isn’t it? Explains a lot.