I told you so. They should've raised rates when they could have. Now not only do they have nothing but inflation, they have stagflation.
Looking at all the components, the Q2 increase in real GDP reflected increases in consumer spending and government spending, while inventory investment, exports, business investment, and housing investment decreased. Imports, which are a subtraction in the calculation of GDP, increased.
All that says is that there's plenty more inflation.
Looking at all the components, the Q2 increase in real GDP reflected increases in consumer spending and government spending, while inventory investment, exports, business investment, and housing investment decreased. Imports, which are a subtraction in the calculation of GDP, increased.
That consumer spending is from money they dont have. Consumer credit is at all-time highs:
https://www.zerohedge.com/news/2019-07-08/consumer-credit-hits-all-time-high-credit-card-debt-surges
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