Listen to my January 28 Alternative Visions radio show where I dissect the just released 2021 US GDP report and follow up with a commentary on Fed chairman, Jerome Powell’s, announcement of rate hikes coming in March.
TO LISTEN GO TO:
Alternative Visions SHOW ANNOUNCEMENT:
The Biden administration this week hypes the 2021 US GDP release of 5.7% growth for 2021 as ‘fastest growth in 38 years’. Yet poll after poll show US households very downbeat and negative about the course and future of the US economy. Who’s right? The politicians or consumers? This show will unpack the just release preliminary figures for US GDP for 2021 and for latest 4th quarter. Why the hyped 5.7% is not all that relevant for the average consumer and household—whether measured in inflation, jobs, wage incomes or even future GDP growth in 2022-23. What’s the real rate of inflation and thus actually lower GDP? Why GDP has been over-inflated since 2013. Why sectors of GDP growth in 2021 are set to slow in 2022. The second major announcement of last week was Fed chair Powell’s declaration that interest rates will rise starting March 2022. Why rate hikes won’t halt inflation, however, and may actually slow the real economy and push financial markets toward more instability.
SHORT ADDITIONAL RADIO INTERVIEW (same topic)
CRITICAL HOUR Radio: https://drive.google.com/file/d/1Kq2QYJZWPQQJmwqJ7-J9IE2TtN4-MJlo/view
Good post. Per a previous post the last time the US used price controls to halt inflation was during the Nixon administration in response to large wage gains by organized labor so the take away is that price controls are only used as a weapon against labor not to a stop inflation caused by price gouging by the Fortune 500. As to redefining GDP as previously posted, the EU was so desperate to show an increase in GDP prostitution and illegal drug dealing were added to the calculations at about the same time and for the same gimmicky reasons the US added intellectual property to GDP. So I end with a trick question: does the Fortune 500 know that the economic books are cooked? The answer is yes because otherwise they wouldn’t bother to have their own in-house economists who sift through the garbage broadcast by governmental entities to ferret out the truth just as Dr. Rasmus does