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In the biggest drop since 1947, U.S. worker productivity plummeted as inflation skyrocketed for businesses trying to buy raw materials and parts.
Meanwhile the Fed is increasing rates into the slowdown - classic stagflation. Only this time, it's on purpose.
In another shocking headline showing the intentional destruction of the American economy, Biden is reportedly buying back oil to fill the strategic petroleum reserve at very high prices, throwing additional costs on the economic dumpster fire. He released all the cheap oil Trump had acquired at record low prices recently.
Do you get what the OBiden administration is doing now?
Continuing Jobless Claims (Apr 22) printed at 1.384M vs 1.4M consensus estimate.
Initial Jobless Claims (Apr 29) printed at 200k vs 180k estimate.
Initial Jobless Claims 4-week average (Apr 29) printed at 188k.
Nonfarm Productivity (Q1) PREL printed at -7.5% vs -5.4% estimate.
Unit Labor Costs (Q1) PREL printed at 11.6% vs 9.9% estimate.
EIA Natural Gas Storage Change (Apr 29) printed at 77B vs 68B estimate.
The two absolute dumbest most brain dead feckless inept incompetent
least self aware incapable morally bankrupt and totally clueless persons on the
entire planet are now president and vice president (at times senile Biden
isn't sure which is which) running this country, all due to a rigged
election.
I have news for you: this country hasn't been run by the elected POTUS for a very long time. Trump came close but you saw what they did to him. (and he did to himself). We only have a small handful of constitution loving congressman left.....it is over. I'm just surprised at how quick it happened.
I told my wife back in late 1990 the web will destroy society.20 some yrs later i was proven right. Not the only one i,m sure. the kids today are brain dead. If its not on their FONE it never happened. That and the tech for gaming and we (the sane ppl) lost.
Biden and his cohorts in the administration are deliberately trying to destroy the American Constitutional Republic with a Fascist State that controls all functions of American business and outlaws all other political discourse if not all other political parties. This is a repeat of NAZI Germany under Hitler after the 1933 elections. It destroyed Germany and it will surely destroy America also.
I'll NEVER vote for that dirty old racist b*****d and the pigs who maneuver behind him.
Exactly.