the staff of the Ridgewood blog
Ridgewood NJ, not sure why so many Wall Street economic geniuses predicted that the GDP report would show a positive number, given that inflation is running at 9%. “Stuck on Stupid” seems to be a growing pandemic.
Tell your story #TheRidgewoodblog , #Indpendentnews #information #advertise #guestpost #affiliatemarketing ,#NorthJersey #NJ , #News #localnews #bergencounty #nj #sponsoredpost #SponsoredContent #contentplacement #guestposts #linkplacement Email: Onlyonesmallvoice@gmail.com
Consumption grew a mere 1.0% but it was fueled by people continuing to dip into savings, not rising real incomes. Real disposable incomes and savings continued their freefall. Investment utterly collapsed in the second quarter, falling 13.5%. Nominal output rose (as shown by the chart below) but real output and incomes fell. Investment collapsed by 13.5%. That’s a leading indicator, so recovery is not around the corner. Strap in!
Some are calling this a “Disposable Income Recession,” because all the pain in the purchasing power of the typical family is down roughly $4,000 this year relative to wages and salaries.
Treasury Secretary Janet Yellen says the U.S. economy isn’t in recession despite Thursday’s GDP report that showed growth declined for the second-straight quarter.
Instead, Yellen told reporters on Thursday U.S. growth is shifting down after expanding at a breakneck pace coming out of the pandemic. This is the same Yellen that in October of 2021 said told CNN that the U.S. had not lost control of inflation. “On a 12-month basis, the inflation rate will remain high into next year, because of what’s already happened. But I expect improvement by the second half of next year,” she said.
Oy vey…………………………………………………………
Can you say dumb as a box of rocks…
“A really efficient totalitarian government is one in which slaves don’t have to be coerced. They have been taught to love their servitude.” ~ A. Huxley
Truer words were never written that applies to the current state of the US. The Biden administration as well as their media, tech giant and pharmaceutical “partners” want you to believe them and not your own eyes. The worst of the support comes from progressive Democrat voters who blindly submit to anything the Democrat party tells them. They question nothing about it and thus become serfs. I hope they have the courage to press the Republican button this November.
If it looks like a duck and quacks like a duck…
I don’t know, people are spending a lot of money. I think the public wants no part of a recession. There’s a lot of work out there, supposedly everyone is behind Covid. It would take another year to catch up. I guess we will see.
What evidence do you have of all these people spending a lot of money? Your household? Your neighbors and friends?
We Believe!
We Believe!
so says the RICH and STUPID crowd!
Just look around for yourself people are out spending money shopping, all the houses on my block have sold in the past week. Yes we were in better shape or Trump I agree, I think people don’t give a shit about this president, in your own mind of trying to ignore him and the things that his party is doing. People want to work invest make money. Yes we have 30 politicians in the way we know that what are we supposed to do just sit back and do nothing.
Of course we’re not in a recession.
…brought to you by the “Man can be a Woman” crowd.
Makes perfect sense to me.