Nobody can make a point like the Mogambo !
(snip)"The Bureau of Economic Analysis at bea.gov has put out their latest report of Gross Domestic Product, and it was, as you would expect from the steady drumbeat of gloomy economic news, down.
The reason is exactly what you would think: "The decrease in real GDP in the second quarter primarily reflected negative contributions from private inventory investment, nonresidential fixed investment, personal consumption expenditures (PCE), residential fixed investment, and exports", which is where I ran out of breath, mostly because my heart was pounding in fear and my muscles were twitching as that old familiar, "fight-or-flight" rush of raw adrenaline squished into my bloodstream.
For some reason, I think that we are supposed to be calmed that these losses "were partly offset by positive contributions from federal government spending and state and local government spending." Gaaaaaahhhh!
Since I find it hard to express the horror I feel as a result of GDP falling while government spending is increasing, I will not try, and instead focus on the arcane handling of imports which, of course, seems perverse, in that imports are a subtraction in the calculation of GDP, so that when imports increase, GDP decreases.
Not this time, though! You can tell by the way the birds have stopped singing and the world seems to have caught its collective breath that GDP went down even more than you think because imports decreased, too, which means that, again seemingly perversely, GDP was registered as having an increase as a result, when, in fact, everyone has been laid off and bankrupted as we die a horrible economic death, screaming in financial pain from letting the filthy Federal Reserve create so much money and credit all those years so that the corrupt Congress could borrow and spend us into the calamity of $12 trillion of federal government debt in a $14 trillion economy, and a system of governments and public sector agencies that spends, collectively, half of GDP, supports almost half of the population, and employs directly and indirectly about 1-out-of-3 workers! Hahaha! We're idiots! We doofus Americans are bona fide idiots! Hahaha!"(snip)
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