Here’s Why You Shouldn’t Trust The Government’s Rosy New Economic Figures
Opinion by Gage Klipper • 20h
The latest GDP and jobs reports are out, and they paint a pretty rosy picture of the U.S. economy just days before the election. Surprise, surprise.
The economy expanded by 2.8% from July to September, according to Commerce Department figures. The growth is said to be driven by consumer spending, also up 3.7% during this time. Job gains actually slowed to the lowest point since 2020, a sharp decline from 254,000 in September to just 12,000 in October, according to data from the U.S. Bureau of Labor Statistics (BLS). Yet the regime has plenty of excuses — storms and strikes — and touts how the unemployment rate remains unchanged at 4.1%. Meanwhile the inflation rate is approaching the Federal Reserve’s target, meaning it could lower interest rates as soon as next week. All told, things are looking alright — at least on the surface.
“Consumers are spending. Inflation is cooling. And the U.S. economy looks as strong as ever,” The New York Times giddily ledes with.
When the corporate media and financial regulators are on the same page, there’s always an instinctual reason to be distrustful. During the Biden-Harris administration, all the Very Smart People running the U.S. economy have made a habit of quietly revising their optimistic numbers after they come out. After all, it’s only the initial headlines that count. (Click here to watch Cleaning Up Kamala)
Dig a little deeper, and the broader metrics are not as good as the top line figures make it seem; even the Times has to admit it.
https://www.msn.com/en-us/money/markets/here-s-why-you-shouldn-t-trust-the-government-s-rosy-new-economic-figures/ar-AA1tlmhH?ocid=msedgdhp&pc=HCTS&cvid=d1c6f8588b4c43c6895e506833e93439&ei=61
