The latest GDP numbers came out and showed that we are officially out of a recession. Yeah, “officially” is the key word. And who produces the “official” numbers Biden’s regime. And interesting that those numbers come out within 2 weeks of the mid-term elections.
Perfect timing don’t you agree?
But let’s look at the numbers themselves so you get a real picture of what is happening.
As a reminder GDP (Gross Domestic Product) is the monetary measure of the market value of all the final goods and services produced and sold in the US. The “gross” number is often manipulated by those preparing the final number to ensure “accuracy.” The final number is adjusted/revised for things such as inflation and population changes. There is also “real“ inflation and “nominal” inflation, I will use the numbers produced by the government.
Official GPP came out at up 2.6%, meaning the US economy grew at that rate…showing we are officially out of the recession the country has been in for the past 6 months. But let’s look at the numbers behind the growth.
Business investment fell 8.5% and consumer spending increased less than 1.5%. With those numbers how did the economy manage to grow 2.6% and isn’t that a good number? Well, let’s look at how the growth number got its growth, then you decide on any good or bad outcomes.
First off, US federal government spending grew 2.6%. That may sound good at first but where did the money come from that they spent? It came out of your pocket or they printed it. Meaning you couldn’t spend it on your family because the federal government took it from you. And since they can’t take enough money out of citizen’s pockets, they printed it…which devalues the US dollar. Both cases suck for the average US citizen…as you can feel every time you go to the store to buy food or to put gas in your car.
The rest of the growth came from a number that is called “net exports”, which is total imports minus total total exports and mostly referred to as the “trade deficit.” When US companies make, sell, and ship goods overseas (exports) that is a good thing economically for America…we’re making money. When we buy goods from overseas (imports) and they ship it to us that is a good thing economically for the foreign countries and their citizens. Now, granted, it could mean we are paying less for an item from overseas vs made in America. Good for our wallet, bad for our employment and overall national economic situation.
In the case of our current GDP; 1) our imports fell substantially, meaning we bought less stuff from overseas because we couldn’t afford it, 2) our exports fell very modestly. That reduction is trade deficit amounted for 2.7% of the 2.6% GDP growth. But what did the US export? The #1 export category of US goods…oil/fuel.
So pull US government spending out of the current GDP numbers, then pull out oil exports and what do you have left? RECESSION!! And that number is holding for 3 consecutive quarters…DEEP RECESSION!
Oh, hang on…remember that Biden is emptying out the Strategic Oil Reserve…and a lot of it has been sold and shipped overseas…Coincidence?
Did you read my article “SitRep – 10/19/2022 – Dire Warning !”? In that article I explained how the US government calculates unemployment numbers. Why is that important? To determine whether the US is in a “depression” or not is primarily being in a prolonged recession plus high unemployment numbers. Three consecutive quarters of recession is pretty prolonged in my book, right? But what about unemployment?
The US government says our unemployment is 3.5%, but we know that based on the calculation formula used 30 years ago the actual unemployment number should show about 8% unemployment. And remember history, the official unemployment rate slightly into the Great Depression (1931) hit 16%. So man we are lucky, we are only half way there! Really?
Let’s crunch some numbers:
• An estimated 260,000,000 adults (18+) in the US.
• The US civilian labor force is estimated at 165,000,000 people.
• The current number of adults holding a job in the US is estimated at 153,000,000.
• That gives you an actual 7.3% unemployment rate, more than double what the “official” government number is.
• But, compared to total adults that could work…that is a staggering 41% unemployment rate!
Yeah, over 41% of US adults do not work! Can you believe that numbers!!!! So why is that “41%” number important? Ah, that is not the important number to consider…yet.
Approximately 60% of all Americans that are employed don’t pay federal income taxes. That means 61,000,000 people carry the financial load of the US federal government tax collection scheme. And in 2021 about 1.8trillion dollars was collected from individuals, not corporations. That works out to about $29,500 per working person in the US who actually pay income taxes! That is 24% of the adult US population pays for the other 76% of adults who either don’t work or don’t pay income taxes. Let that number sink in for awhile.Some other important numbers to consider when considering who is responsible for the national debt that is over 31trillion dollars:
- The national debt works out to over $508,000 per taxpayer.
- At the current average amount that each taxpayer pays each year in income tax, it would take each taxpayer more than 17 years to pay off the national debt…if 100% of what they paid went to the debt…AND the federal government never borrowed any more money going forward.
The economy is toast!
- When you look at real numbers we are in a deep recession.
- Net wages are shrinking at over 3% per year, sometimes much more, including during times when gross wages go up at historic rates, net wages continue to shrink
- Only 60% of American adults work, worse than the Great Depression unemployment numbers.
- Only 24% of Americans fund the government, 76% of Americans take advantage of the federal government.
- The national debt can never realistically be paid off…period. It is 100% impossible!
- The debt to GDP ratio in the USA is 134%…VERY dangerous territory.
- 38,000,000 of people who aren’t working are living off of credit cards, loans, and borrowing from friends and family to pay their bills. And, private debt is at an all time high…as well as debt default is at at an all time high.
- More than 20,000,000 adults are living off of federal government welfare programs to pay their bills.
Why is all of this important? Two reasons…
One, the US federal government is feeding us pure bullsh*t when it comes to economic numbers. They manipulate the economic numbers to paint a pretty picture to keep the pitchfork mobs away from Washington DC…and help the mid-term election results for those who are presently causing the economic problems.
Two, you must understand where we are so you can prepare for what is coming.
What is coming…What do you think? Do you seriously think there is any realistic positive outcome to our economic situation? Do you see any upside to the economic situation? How do you think governments pull out of situations like this?
Well, that is the kicker here, and it ain’t good. 100% of the time this kind of economic situation always ends up in war of some kind. And when super powers are involved it usually ends up in a world war.
So think about that but also think about this…
1. What does the US look like during the time till war hits…then afterwards?
2. What are you doing to prepare for the interim time, pre-war?
So I am going to add a poll to this article, please give me your honest answer.
Related Articles –
- SitRep – 10/19/2022 – Dire Warning !
- SitRep – Economy – 10/3/2022
- Rise Up !
- “Rise up !” Actions & Suggestions
- SitReps with Summaries
- Immediate Action Warnings
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