Loading ...US GDP GROWTH IS A BULLSHIT SCAM
Fresh GDP numbers came in and it was a blowout. The kind of blowout only $2.7 trillion of deficit can buy.
It now takes $1.55 in budget deficit to generate $1 of growth… and it takes over $2.50 in new debt to generate $1 of GDP growth
Read the article but be sure to watch Peter St Onge Video 3 minutes
Karl Denninger has been making this point for 20 years.
Strip out the deficit spending and inflation, and real growth is near zero.
Take it down to per capital levels (remove effects of pop growth) and it goes negative.
Its just kick the can (monetizing the deficits).
Enabled by the Fed, so DC can stay on the gravy train.