U.S. economy grows 4.9 percent, shrugging off interest rates and defying recession forecasts

submitted by Cancelthis from pbs.org

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[–]HiddenFox 2 insightful - 1 fun2 insightful - 0 fun3 insightful - 1 fun -  (3 children)

A lot of what's going on with the economy defies logic. I have doubts about these numbers but there is no doubt it's still chugging along. (For now anyway)

For too long feds were terrified of interest rates north of 3%. Now we are looking at a world where they can keep the middle class and below out of the high end resorts, first class seats and exclusive beaches. Just keep them working to survive while apparently still being able to make shit tons of money. Welcome to the new "new norm". They will keep this shit show going as long as they can.

[–]Zapped 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (0 children)

I have been seeing a "rolling recession" for about a year now. It has affected different sectors at different times. The upcoming U.S. presidential election will keep it going until at least mid-2024. Well, that's my guess, anyway.

[–]William_World 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (0 children)

oligarchal collectivism