Q1 GDP fell 1.4%

[K Douglas]

Hang on its gonna get bumpy

U.S. economy shrank in the first three months of 2022

Despite solid consumer spending, the nation's GDP fell 1.4% after a drop in exports and government spending.

www.cbsnews.com

.

 

[james t kirk]

And so it begins......

Exactly the same circumstances as the recession of 1992. Unrealistically high real estate prices, inflation, out of control government spending.

It lasted till 95 ish and was the most brutal of the 3 recessions I've lived through as a working person. 92, dot com and 08 (sub prime)).

Only this time, there's COVID, the very real possibility of WW3, massive federal and provincial debt and a complete moron at the wheel in Ottawa on top of it all.

 

[angrymime666]

ahhh.... a down swing. a good time to reap the benefits of peoples fear. Im still waiting for a further drop in the market in canada since its just starting to rear its head.

 

[Beagle_]

a complete moron at the wheel in Ottawa on top of it all.

Yes.

 

[fedor77]

All trumps fault eh guys?

 

[jalimon]

Exactly the same circumstances as the recession of 1992. Unrealistically high real estate prices, inflation, out of control government spending.

It lasted till 95 ish and was the most brutal of the 3 recessions I've lived through as a working person. 92, dot com and 08 (sub prime)).

Probably the best years of my life! I was in my early 20's. Studying but mostly skiing out west and screwing some girls. Working as a bartender most of the time. Poor but fucking happy.

And besides we were not fucking reachable 7 days 24/24 at the time... So deliberating!

 

[Darts]

The good news is that "official" unemployment is down.

 

[K Douglas]

The good news is that "official" unemployment is down.

Biden the greatest job creating president in history. That's what they were echoing a few months back.

 

[Darts]

"Statistics Canada says real gross domestic product rose 1.1 per cent in February to post its largest monthly gain since March 2021.

The agency also says its early estimate for March indicated an economic gain of 0.5 per cent for that month."
(1) Canadian economic growth hit 1-year high in February, Statistics Canada says - National | Globalnews.ca

 

[KDK13]

Biden the greatest job creating president in history. That's what they were echoing a few months back.

Its still true.
A chunk of the shrink was the end of covid programs. However you're right shrinkage is not good regardless. So let's see what happens. Keep in mind previous year had greatest gdp growth in a generation.