American Economics Thread
- Thread starter Bernard
- Start date
LOL.
The new sales pitch is "US Recession is TRANSITORY"
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Consumer sentiment falls to record low in June as inflation persists
he University of Michigan's closely watched Surveys of Consumers consumer sentiment index was revised lower to 50.0 in the final June survey.
This marked the lowest level on record in data for the series, which spans back to the mid-1970s. In the preliminary monthly survey, the index registered 50.2.
"The final June reading confirmed the early-June decline in consumer sentiment ... Consumers across income, age, education, geographic region, political affiliation, stockholding and homeownership status all posted large declines," Joanne Hsu, director of the Surveys of Consumers, said in a statement.
"About 79% of consumers expected bad times in the year ahead for business conditions, the highest since 2009," Hsu added. "Inflation continued to be of paramount concern to consumers; 47% of consumers blamed inflation for eroding their living standards, just one point shy of the all-time high last reached during the Great Recession."
Oh dear the original debt trap hero is criticizing the United States
ooh man it would be so funny if the IMF would put the US in a debt trap
AssassinsMace
Lieutenant General
If it were China, the West would be proclaiming doom and gloom. Look at US big tech companies that are making little to no profit. And what do they think they have that will make the future bright that keeps investors pouring money in? Faith... that Westerners are smart enough to figure it out. How many different kinds of collapses did they proclaimed was coming for China because of... real estate, banking, energy etc...? When it doesn't happen, they move on to another sector of China to scream doom and gloom. In the US it's the same problems only getting worse. Something is going to give way simply because they're always and consistently making no profits unless it's a huge scam but then that usually comes at the expense of someone else especially taxpayers.
The Atlanta Federal Reserve's GDP forecast model GDPNow's latest forecast (June 27th) projects the 2022 Q2 GDP growth to be +0.3%. If this holds, then the US will escape recession based on the definition of 2 consecutive quarter of negative growth.
However, since the GDP growth was -1.5% in Q1, so the 2022 H1 GDP will shrink by about 1.0% YOY.
However, since the GDP growth was -1.5% in Q1, so the 2022 H1 GDP will shrink by about 1.0% YOY.
The -1.5% figure is annualized QOQ GDP growth. YOY Q1 US GDP grew 3.6%.