Can I ask if you are surprised to find out that now that we have experienced Black Jesus’ “Hope and Fundamental Change” in action, that we are seeing European level of anemic economic performance and being snowed into thinking it is not the fault of the bullshit policies of these crooks? From the article:
The U.S. economy expanded in the first quarter at the slowest pace in two years as American consumers reined in spending and companies tightened their belts in response to weak global financial conditions and a plunge in oil prices.
Gross domestic product rose at a 0.5 percent annualized rate after a 1.4 percent fourth-quarter advance, Commerce Department data showed Thursday. The increase was less than the 0.7 percent median projection in a Bloomberg survey and marked the third straight disappointing start to a year.
Shaky global markets and oil’s tumble resulted in the biggest business-investment slump in almost seven years, and household purchases climbed the least since early 2015, the data showed. While Federal Reserve officials on Wednesday acknowledged the softness, they also indicated strong hiring and income gains have the potential to reignite consumer spending and propel economic growth.
First off, low oil prices, unless you are in the criminal green industry or in the oil business itself, are awesome for any business. Lower oil costs means lower fuel costs, which for every business that moves shit around means lower costs period, and more profits. Investments are slumping, not because of the drop in oil prices – I have made a killing myself investing in oil companies right now – but because too many people are catching on that the stock market rise is mostly from devaluation of the dollar (makes assets worth more on paper) and because there was nothing else that was safe to invest in. The problem is that since the 2008 crash any growth has come without a growth in employment numbers, and whenever it happened otherwise, because government pissed money propping up junk industries that will die sooner than later. We have had morons lie to us that the economy was growing when all it did was stay on life support while massive government spending and borrowing tried to hide that fact.
“The fact that personal consumption is a bit on the soft side is a disappointment, especially in light of the low gasoline prices,” said Thomas Costerg, senior economist at Standard Chartered Bank in New York, who correctly projected first-quarter growth. “Consumption seems to be stuck in a low gear.”
Yeah, that slump happens because fewer people are employed you moron, hence less cash to spend, and those of us that are still employed realizing we better hide our money in assets that government can’t fuck us over for having. Yeah, I know the LSM has been touting the stupid unemployment numbers that totally hide the fact so many people have dropped off the rolls and so many more are working part time because they can’t get full time employment, but I remind you that when these numbers were lower during a republican president, they were then falsely touted as signs of an abysmal economy. We have that now, but because of Black Jesus and the fear of pointing out this Keynesian shit doesn’t work, nobody wants to say we are fucked.
Businesses are also aware of the existing shitstorm and the potential doubling down of this shitstorm. Can you blame them when you have a party where the 2 candidates, one a criminal and the other a prime example of life’s losers with a grudge against his betters, competing about whom will steal the most from the productive sector to buy votes with? If I was one of these companies, I would definitely be looking at how to hide assets. Especially when the LSM never reports on how full of shit these vote buying collectivist scumbags really are screwing us. Bernie, whom sadly is the lesser of the donkey evils, wants to give us free college, but nobody points out how well government controlled free lower education has worked out for us. The criminal on the other hand is trying to out communist the communist. Who do you think will pay for all this free shit?
None of this stops the cheerleaders from trying to convince the serfs that despite the abysmal reality, that improvement they have been telling us was just around the corner or had arrived, for more than 7 years now, is just around the corner:
The dismal performance in the first quarter, however, is unlikely to carry over in the spring, most economists contend. They view the labor market as a better indicator of where the economy is headed than the more backward-looking GDP report and they point to strong job creation early in the year as evidence that growth is stable.
The case for a spring rebound will get the first big test next week when the government issues the employment report for April. Economists predict an increase of around 200,000 new jobs, matching recent gains. Only a big shortfall in new jobs is likely to set off alarms about the second quarter.
Here is my bet on how this plays out: they tell us that we have finally made it, only to revise the numbers – always downward and indicating things are terrible -some months later. And when they do this, it will all be “unexpected”. And we are all supposed to believe them despite the fact that we have seen this same shit for close to 8 years now. We have never recovered, and if you look at home ownership trends, it is obvious that these morons have been lying to us. The real estate sector doing well is basically Chinese oligarchs gobbling up everything still of value. And for all their talk about social justice and sticking it to the “haves”, the Obama SJW machine seems to have really created some serious imbalance between the rich and the poor, but definitely not in the direction they pretend they want to move it. The fact is that friends of the crime syndicate in power now are rolling in the dough, while others are not doing so well.
Things suck because the people in charge have made it far worse. That’s the facts, Jack.