Breaking: Terrible GDP report just dropped… worst since Covid

It should be noted that when you look at the underlying data, the economy hummed along quite well in January and pretty well in February. The reversal really started in March. A lot of the "decline" is an increase in imports, which is generally not a bad thing, but it isn't great now because of the reason for the increase in imports (buying inventory to avoid the tariffs/taxes, which will likely cause a sales trough as companies seek to burn off that inventory and consumers stop buying due to their purchases having been shifted up for the same reason).

 

Imagine being a grown adult, having to sit and accept the (supposed) President of the United States trolling his own Cabinet.

 

I thought it was THE Columbus day

 

This is the same cabinet meeting where all the members are sitting around with MAGA hats and Gulf of America hats in front of each one of them. Definitely not weird at all.

 

He should make them wear them as a sign of loyalty. I only saw Elon put on both at the same time.

 

What’s the definition of a recession?

Last time we had two negative quarters of growth I remember a lot of debate if that was really a recession.
I think that was about 2022…?

 

From 2022:

 

Because Elon craves his love the most

 

So what does all this nonsense mean?

From MSN:

"But business investment rose at a 21.9% clip as companies poured money into equipment.
And a category within the GDP data that measures the economy’s underlying strength rose at a healthy 3% annual rate from January through March, up from 2.9% in the fourth quarter of 2024. This category includes consumer spending and private investment but excludes volatile items like exports, inventories, and government spending."

 

Correct. The NBER males the call as I've stated in the past.

 

Same as in 1981. By 2027 the economy will be insane. Just like Reagan.

 

Under Reagan: avg. UE rate = 7.5%, avg. inf rate = 4.68%, Mortgage rates were never below 10%.* Debt increased from 768B to 2.1T. Insane!

* the day Reagan left office UE, Inf & mortgage rates > than when Biden left & I've heard that Biden left a disaster.

 

In other new my 401k is within 3% of the peak in late January, pre “Trump slump”.

I credit it to some smart sells and smart buys near the bottom.