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US Economy Shrinks 0.2% on Weaker Spending, Larger Trade Impact
(www.bloomberg.com)
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this post was submitted on 30 May 2025
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The 3.4% price growth excluding food and energy costs is the real kicker here. Real GDP is down by 3.6%. And this is still with the full effects of the Q1 tariffs not fully baked in (since businesses frontloaded inventories).
As the article says at the end, the fed is still not really looking to lower interest rates. Combine this with climbing unemployment, the US is looking to enter soft stagflation basically.
Well actually it's been in stagflation for a while already. But so far the economic statistics could be papered up.
Arguably we’ve been in stagflation since 2008.
We keep hearing about how massive the California economy is, but how much of that is just the rise in property values and its reported that the real estate “industry” there is the “best” in the world?
That, plus VC pump-and-dumps and tech industry speculation leading to multi-billion dollar valuations for shit like Farmville.
I'm frankly amazed how far they managed to kick the can down the road since the pandemic. It does look like chickens are coming home to roost now though, and it's no longer going to be possible to spin this as anything other than an economic crash.