The US economy shrank in the first quarter of 2022, declining at an annual rate of 1.4%. CNN's Matt Egan explains the driving factors behind this. #CNN #News
‘We shouldn’t panic’: CNN reporter breaks down US economy shrinkage
43 comments
Leave a Reply
Recent Post
-
-
Style experts spot a ‘no-no’ inside the Oval Office
-
Amanpour: Dissent about war in Ukraine in Putin’s circle is ‘silenced’
-
Cannes Film Festival 2023: The stand-out films and stars this year
-
Anti-Putin Russians based in Ukraine allegedly stage incursion into Russia
WHEN THEY TELL YOU NOT TO PANIC YOU SHOULD PROBABLY PANIC.
8 months Ago CNN Headline – “Inflation is Good”
Now I’m panicking
Agree. When everybody else is freaking out, I buy up what they’re selling. People…keep panicking!!
Hopefully the Great Correction at midterms will mitigate any long term damage to the economy. Just look at how fast the economy rebounded in 2017.
The housing bubble, student loan bubble haven’t popped yet. Gonna get worse
Every time this administration says don’t panic, a few months later something bad happens
Funny, I was thinking the same about the last administration. Remember when trump said this Covid is no worse than the common cold and we’d be over with it before summer….
@Farmer Bill I remember when Fauci said the same thing before the first cases hit the US. I also remember when Pelosi said that imposing travel restrictions to other countries because of COVID was racist and that everyone should come on down to China town because there was nothing to fear. 3 days ago, Fauci said the pandemic was over, today he says we are in a different stage of the pandemic. Politics, nothing more, by a bunch of folks that care more about their power and money than the people they are supposed to represent.
And the food shortages are not far behind.
All by design, folks.
All part of the Master Plan.
We all know we can trust the media and govt right? So when they say “don’t panic”, of course we should not panic.😰
A falling GDP coupled with rapid population rise from open borders means a huge drop in GDP per capita, the strong $ is driving increasing imports & likely outsourcing jobs but it is also lowering costs for imported factors of production for manufactured goods sold domestically. Biden should capitalize on this by ending FTA’s with nations that add to US trade deficit & pumping up the WTO tariff on non staples to force production back into the US because a falling GDP per capita means those non footloose service industry jobs are going to disappear as demand for non staples & services dries up.
The $ itself is strong partially because its a sanctuary currency being used for nations all over suffering from hyperinflation but also because the US current account is -$217.9b, indicating a huge amount of US service payment generating ‘capital stock’ (land, property, loans & direct investment e.g. factories) is being bought up by foreign nationals (hence demand for $ to buy it), driving up house prices & exacerbating the US trade deficit with a record increase in the services trade deficit of $51.9b from ‘rents’. This is very bad news because it indicates free trade deficit colonialism of the type that reduced Indian GDP per capita to 1/20th of the UK’s in the GB free trade Empire is taking place. Unless u want to live in an actual developing world nation like India with hi levels of state corruption, mortality & very low state spending per person due to low tax base from a very low average real wage some protectionism must be pursued, starting with stopping low human capital immigration. UK loves ya but dont trust a Tory, disaster capitalists & traitors to the nation here, Biden is a literal sock puppet for US disaster capitalists by his actions, sorry, it is what it is.
“Free trade agreements are a declaration of economic War, there are winners & losers, US can win but needs to learn how to fudging fight first”
YONAKA – Teach Me To Fight
I’m sick of rich people telling us what to do… they always benefit while we pay sickening taxes…
I feel you, I am a single parent with a special needs child making 65000 in salary yet was in thr 19% tax bracket!!!
then do something
@Lance Jess Elias I’m make about 125 and pay around 23% . The inflation and higher food prices are hurting my bottom line the most .
“Unexpected” and “don’t panic” are all you need to know. Things are bad right now and they just don’t want to admit it.
Fun fact: we changed the way we measure inflation since our last crisis so what would show up as 18% back then might be 10% today. Consider that the next time they say 8.5%
@spinupallmissiles Meh. Think before you troll.
Things will never get better when 1 of the 2 parties elects people who want government to fail.
This guy is reading from the “Sinclair handbook of don’t panic”
Yes it’s easy for this reporter to say don’t panic when his annual salary is in 150k to 200k.
Head on over to the New York Times and read some articles about how 8% inflation is a good thing, and for some recipes on how to cook lentils since peasants don’t deserve meat.
Try 500k to 750k
His salary is wayyyyy over that.
Yeah it’s probably alot higher
Hahahaha. Can always count on our media to put everything into perspective
It tells us our administrationis terrible, that’s what it tells us.
No we’ve already transitioned from “don’t panic” to “pissed off” ! See ya at the Polls on November 8th regardless of the scams you pull to keep us home !
By the end of this summer. There’s going to be major food shortages. CNN says don’t panic folks.
As a farmer you are spot on
When Trump was President and we had a booming economy
“REEEE omg the economy is bad right now isn’t!? It’s recession!!!!”
When the economy shrinks and we have 8% inflation spelling stagflation when Biden is Presidnt
“Why you shoulden’t panic, I mean look at these small underlining factors that are positive.”
Trump 2024 🇺🇸
Shocked to see you here man, I guess your eyes are open to what’s happening
Do we really Trust CNN with how they read the economy when you saw what happened to CNN+?
8 months Ago CNN Headline – “Inflation is Good”
When people tell you not to panic, it usually means that there is something to be concerned about.
The same company that invested $300 Million into a project that failed in 3 weeks(CNN+) is giving me advice on the economy and tells me not to panic. Clear sign we are screwed.
Haha exactly
I LOVE paying $60 for a half tank of gas . I find myself smiling all the time now. I knew the democrat party would make everything okay after orange man . God bless Joe Biden for giving billions to the taliban and taking care of the tens of thousands of poor migrants . They can definitely use that money a lot more than Americans. These are great times and Joe is going down as one of the greatest presidents ever .
“There’s a lot to look forward to in 2020.”
-Joe Biden, January 2022
It keeps getting worse with Biden.
1 Macey Schitzs Fuk what you saying it here 😠 https://www.youtube.com/watch?v=UzlBUdnnQOI
Felicidades, es un buen ejemplo. 😠
5:25 Se deja ver que hay muy buenos resultados 😠😠
Saludos desde la Cd.. de world 🌹😉💖
los mortales abian apreciado tan hermosa mujer
Lmfao this is scary