The latest US GDP figures for second quarter of 2022 renewed the debate about whether the US economy was in a recession or not. Real GDP contracted in the second quarter of this year by a 0.9% annualised rate (or by 0.2% quarter over quarter). That meant the US economy had contracted for two successive quarters, and so ‘technically’ (by that definition) was in a recession. Real GDP is now up only 1.6% from Q2 2021. And business investment is slowing, up only 3.5% from this time last year, the slowest rate since the end of the COVID slump in 2020.
Calling a recession and blaming it on interest rates
Tag: GDP
Venezuela: President Maduro Calls on Army to be on Alert due to Threats from Bogota, Cabello Points at CIA Asset Simonovis
Caracas, July 27, 2022 (OrinocoTribune.com)—This Tuesday, July 27, the president of Venezuela, Nicolás Maduro, instructed the Superior General Staff of the Bolivarian National Armed Force (FANB) to remain alert to terrorist threats being planned in Bogotá.
Venezuela: President Maduro Calls on Army to be on Alert due to Threats from Bogota, Cabello Points at CIA Asset Simonovis
Despite sweeping sanctions, Russia’s economic outlook has improved since April — but it’s gotten worse for almost every other country
Russia’s economy is holding up better than expected amid sweeping sanctions over its invasion of Ukraine, according to the International Monetary Fund’s World Economic Outlook report issued on Tuesday.
Despite sweeping sanctions, Russia’s economic outlook has improved since April — but it’s gotten worse for almost every other country
Why Nord Stream II Must Be Opened Immediately
Next winter Germany, and other European countries, will have an energy crisis. This crisis, we are told, is caused by the proxy war between the U.S. and Russia in Europe. They say that Russia has cut us off from its natural gas deliveries.
Why Nord Stream II Must Be Opened Immediately
Tiny tariff removal won’t work to tame surging US inflation + Infographic: Tally of US tariff war against China
MoA: The Neocon’s Dream – Decolonize Russia, Re-colonize China
The Neocon’s Dream – Decolonize Russia, Re-colonize China
Related:
Decolonization; Partioning; I call it Balkanization. 🤷🏼♀️
St. Petersburg sets the stage for the War of Economic Corridors
In St. Petersburg, the world’s new powers gather to upend the US-concocted “rules-based order” and reconnect the globe their way
St. Petersburg sets the stage for the War of Economic Corridors
US & Europe Are Victims Of Their Own Sanctions On Russia & China
Stop using the China ‘threat’ to throw more money at the Pentagon
Many want to increase already record high defense spending to confront Beijing. A new Quincy report lays out how the dangers are inflated.
Stop using the China ‘threat’ to throw more money at the Pentagon
The scissors of slump
Last week, US Treasury Secretary Janet Yellen told the US Congress that “We now are entering a period of transition from one of historic recovery to one that can be marked by stable and steady growth. Making this shift is a central piece of the President’s plan to get inflation under control without sacrificing the economic gains we’ve made.”
It’s true that the US economy since the depths of the pandemic slump, (which remember in terms of national output, incomes and investment was the worst since the 1930s – even worse that the Great Recession of 2008-9) has made a recovery. But it could hardly be described as ‘historic’. And as for the claim that the US economy, the best performing of the major economies in the last year, is heading towards ‘stable and steady growth’, that is not supported by reality.
The scissors of slump
Ms. Cat’s Chronicles 
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