The U.S. economy is doing far worse than the media and the Biden administration are trying to claim. Indeed, it is on the verge of a nightmare scenario, according to the Daily Caller.
Signs of stagflation are showing stronger than ever, especially with the anemic economic growth numbers which just came in at a disastrous 1.6 percent in the first quarter of this year.
Per Daily Caller
U.S. annual economic growth measured just 1.6% in the first quarter of 2024, following a report of persistently high inflation in March of 3.5% year-over-year. The combination of both low growth and high inflation, in conjunction with continuously high amounts of government spending and debt, has led to signs of stagflation in the U.S. economy, which wreaked havoc on U.S. consumers throughout the 1970’s, according to experts who spoke to the DCNF.
“It’s not so much that we risk stagflation as we’re already there,” E.J. Antoni, a research fellow at the Heritage Foundation’s Grover M. Hermann Center for the Federal Budget, told the DCNF. “We have basically pulled forward trillions of dollars of economic growth by borrowing from the future, but that must be repaid at some point. And it is highly inefficient as well.”
Stagflation occurs when slow growth, high unemployment, and soaring inflation all converge at the same time. And that is exactly where we are headed.
And Biden’s massive and ruinous spending is only making all this even worse.
QT continues but there's a long way to go before we return to normalcy, and that likely won't happen w/ Powell & Co. chomping at the bit to cut rates and taper the balance sheet runoff – securities are only down 18.6% from their peak and total assets down just 17.4%: pic.twitter.com/PV48bGZozW
— E.J. Antoni, Ph.D. (@RealEJAntoni) April 25, 2024
Daily Caller has much more detail on these indicators, but suffice to say, thanks to Joe Biden’s horrible policies, the U.S. economy is headed for a very had fall and not the “soft landing” is sycophants in the media keep claiming.
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