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The week's question
In December 2024, in the thread "Re: BRK: Why Not XOM?", BreckHutHigh asked the members: "What about the long road trips with kids?" This week it is put to everyone again. The button below opens the small thread re-asking it - read what others have said so far, then give your own answer as an ordinary reply.
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Halls of Shrewd'm / US Policy
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Author: g0177325 ⎊✺  😊 😞
Number: of 84364 
Subject: Yup, we're in a recession
Date: 05/06/25 4:57 PM
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Stolen from somewhere on TMF:

"In case anyone had any doubts, the latest GDP figures for Q1/2025 demonstrate we have slipped into a recession. We went from a growing economy to one that is contracting, in just three months. GDP was over 3.0 in Q3, 2.4 in Q4, now at negative 0.3 in Q1. Someone better call up Powell and see if a real recession is a good enough reason to cut interest rates. Time to start quantitative buying again."

Commenting on this article at the Bureau of Labor Statistics:

bea.gov - Gross domestic product 1st quarter advance estimate

Gross Domestic Product, 1st Quarter 2025 (Advance Estimate)

Real gross domestic product (GDP) decreased at an annual rate of 0.3 percent in the first quarter of 2025 (January, February, and March), according to the advance estimate released by the U.S. Bureau of Economic Analysis. In the fourth quarter of 2024, real GDP increased 2.4 percent.

The decrease in real GDP in the first quarter primarily reflected an increase in imports, which are a subtraction in the calculation of GDP, and a decrease in government spending. These movements were partly offset by increases in investment, consumer spending, and exports. For more information, refer to the "Technical Notes" below.

But no worries: "This is still Biden's economy", right? <smh>
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This community has written 84,309 posts about US Policy. The article-length ones it recommended most:
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