Biggest decline in consumer spending in 4 years!

A lot of people have been saying that Musk is having his talking pet crater the economy so that the techno billionaires can swoop in and purchase everything in the country worth owning.

The Atlanta Fed's GDPNow bounced back a tad to -2.6% today on wholesale trade data from -2.8% on Monday. Next economic report will be Retail Sales and Inventories on March17th.

That number is going to be very telling.

Can you say TRUMPCESSION?

GDPNow - Federal Reserve Bank of Atlanta

Government jobs accounted for 31% of job growth under the Biden economy.

Last month, it was 3%.
97% was private sector jobs.

— End Wokeness (@EndWokeness) March 7, 2025

Biden's economy was a lie.

President Trump’s first jobs report of the 47th administration:

Government: -7,000 📉
Manufacturing: +10,000 📈
Auto jobs: +9,000 📈

This is what winning looks like.

— johnny maga (@_johnnymaga) March 7, 2025

Heading in the right direction.

Now for a reality check . . .

The actual non-farm payroll number was lower than had been expected (161,000)
And the unemployment rate ticked up to 4.1%

Statistics released Wednesday showed that private sector job creation slowed in February. Economists predicted private companies would add 148,000 jobs in February, but the figure was just 77,000.

Job seekers are struggling at the moment, a report published by the Labor Department Thursday found. Continuing jobless claims - which measures the number of people out of work for extended periods - were pushing a three-year high in January.

Now Trump and his Administration wants to change how GDP is calculated.
Shocker.

Trump officials want to measure the economy's health in a way that may hide DOGE cuts

"It seems like a strange place to start to say, hey, we're going to have the greatest economy in the history of the globe, but we're going to have to measure it differently because you can't see it," Doug Holtz-Eakin, president of the American Action Forum, said in a recent episode of Yahoo Finance's Capitol Gains podcast.

"That's not a great sales job," he added.

DOW JONES - 1,046 POINTS

There goes that consumer spending driver by the Top 10% who account for roughly HALF of this country's spending.

The wealth effect is being vaporized by a MORON.

But he'll blame it on Biden.

It's amusing seeing the multitude of ways MAGA clowns are trying to justify this immediate downturn.

Trump Recession Timeline:

1. This will be a Golden Age on Day 1! Prices will come down and economy will boom!

2. These policies won’t cause a recession. We know what we’re doing.

3. Ok, it will cause short-term pain but will be good in long term.

4. This is Biden’s recession!

— Ron Filipkowski (@RonFilipkowski) March 10, 2025

Yup.

And GOP leaders are now hearing about it from their constituents.
Just ask Rand Paul in Kentucky.

"I have every major industry in Kentucky lobbying me against them: the cargo shippers, the farmers, the bourbon manufacturers, the homebuilders, the home sellers you name it fence manufacturers," Paul told The Hill.

"The bourbon industry says they're still hurt from the retaliatory tariffs" during Trump's first term, he said. "So do the farmers."

He said the federal government had to pay $20 billion to $30 billion in the "last administration" to farmers to mitigate the economic impact of tariffs.

"It shows the fallacy of believing in a policy of tariffs if you immediately have to borrow a bunch of money and give it to the people your hurt," he said. "There need to be Republicans who are still extolling the benefits of international trade."

MAGA NEVER FELT SO GOOD!

Republicans worry Donald Trump's tariffs could harm economy

I heard the Biden Crime Family was doing a lot of SELLING in the stock market today.
They and the globalists are trying to make Trump look bad!

bearister said:

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Trump and the techno oligarchs are buying low today knowing when Trump backs off tariffs they will make a killing.

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"Recessions can benefit the 1% by boosting their wealth through a rebounding stockmarket…..billionaires recovered losses in weeks during 2020, per NPR. They also gain from tax code changes favoring the rich and can buy undervalued assets cheap during downturns. Meanwhile, the middle class gets hammered by falling home equity, as Pew Research shows. Harsh truth: economic pain for most is a jackpot for
the elite."

DiabloWags said:

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bear2034 said:

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Remember when the Biden/Kamala admin proposed taxing unrealized gains?

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Remember when BITCOIN was at $100,000

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Up 12% ytd, and up 1,465% over 5 years.