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Amid an economy inflated from massive government handouts and supply chain disruptions, U.S. gross domestic product (GDP) increased at a 6.5 percent annual rate in the second quarter of 2021, falling significantly short of federal projections.
The Commerce Department’s report released Thursday indicated U.S. GDP did not surge from April to June after the first quarter’s 6.3 percent annual growth rate, despite expectations. Wall Street analysts forecasted an 8.5 percent growth rate for that period, even though the recorded economic output is now higher than prior to COVID-19 and lockdowns.
“The above-trend growth in the second quarter reflected the continued reopening of the U.S. economy and government support via business loans, stimulus checks and extended unemployment benefits,” reported Fox Business.
GDP, a figure representing the value of all goods and services produced in the country, is one way to estimate the economic health of a country. Major reasons for the lower-than-expected growth in the last quarter, said analysis, are supply bottlenecks and labor shortages.
“The process of reopening the economy is unprecedented, as was the shutdown at the onset of the pandemic,” Federal Reserve Chairman Jerome Powell said Wednesday. “As the reopening continues, bottlenecks, hiring difficulties, and other constraints could continue to limit how quickly supply can adjust, raising the possibility that inflation could turn out to be higher and more persistent than we expect.”
From May to June, the U.S. trade deficit increased by 3.5 percent to $91.2 billion, according to a report by the U.S. Census Bureau released Wednesday.
The second quarter saw lessening inventories, which subtracted by close to 1.1 percentage points from growth as a whole. For instance, recent U.S. Energy Information Administration data showed crude-oil inventories were down by 4.1 million barrels. Inventories sunk by $166 billion in total.
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The Bureau of Economic Analysis described how the spike in consumer prices, which is up 5.7 percent quarter-to-quarter, reflects inflation surging after months of lockdowns and stimulus checks. Energy and food prices increased by 20.6 percent and 2 percent, respectively.
Paul Ashworth, the chief U.S. economist at Capital Economics, told Fox Business that Thursday’s report provides “more evidence that stimulus provided surprisingly little […]
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Will America-First News Outlets Make it to 2023?
Things are looking grim for conservative and populist news sites.
There’s something happening behind the scenes at several popular conservative news outlets. 2021 was bad, but 2022 is proving to be disastrous for news sites that aren’t “playing ball” with the corporate media narrative. It’s being said that advertisers are cracking down, forcing some of the biggest ad networks like Google and Yahoo to pull their inventory from conservative outlets. This has had two major effects. First, it has cooled most conservative outlets from discussing “taboo” topics like Pandemic Panic Theater, voter fraud, or The Great Reset. Second, it has isolated those ad networks that aren’t playing ball.
Certain topics are anathema for most ad networks. Speaking out against vaccines or vaccine mandates is a certain path to being demonetized. Highlighting voter fraud in the 2020 and future elections is another instant advertising death penalty. Throw in truthful stories about climate change hysteria, Critical Race Theory, and the border crisis and it’s easy to understand how difficult it is for America-First news outlets to spread the facts, share conservative opinions, and still pay the bills.
Without naming names, I have been told of several news outlets who have been forced to either consolidate with larger organizations or who have backed down on covering certain topics out of fear of being “canceled” by the ad networks. I get it. This is a business for many of us and it’s not very profitable. Those of us who do this for a living are often barely squeaking by, so loss of additional revenue can often mean being forced to make cuts. That means not being able to cover the topics properly. Its a Catch-22: Tell the truth and lose the money necessary to keep telling the truth, or avoid the truth and make enough money to survive. Those who have chosen survival simply aren’t able to spread the truth properly.
We will never avoid the truth. The Lord will provide if it is His will. Our job is simply to share the facts, spread the Gospel, and educate as many Americans as possible while exposing the forces of evil.
To those who have the means, we ask that you please donate. We have options available now, but there is no telling when those options will cancel us. We have our GivingFuel page. There have been many who have been canceled by PayPal, but for now it’s still an option. Your generosity is what keeps these sites running and allows us to get the truth to the masses. We’ve had great success in growing but we know we can do more with your assistance.
Thank you, and God Bless!
JD Rucker