U.S. Economy Contracted Almost 3 Percent in First Quarter
“The U.S. economy contracted much more than previously thought during the first quarter of this year, revised estimates show. Rather than the 1 percent growth the Commerce Department reported last month, gross domestic product fell by 2.9 percent, the worst performance in five years. That brings total growth down by 3 percent since the government first reported its estimates in April. There hasn’t been a larger difference between the second and third revised estimates in 38 years, the Commerce Department said on Wednesday.”
We ain’t doing so good! What a goddamn understatement. The American economy has ‘contracted’. Now what does that mean? It means that the American economy has shrunk, declined, dwindled, decreased, got smaller. It means that the American economy is fucked up and ain’t about to get off life support for some time to come. Actually, the plug is being pulled.
There is talk about inflation as if it hasn’t already hit. Uh…I was in the grocery store just the other day and I’ve got news for those lame ass media clowns, inflation was staring me all up in my not so astonished face. One woman told me that she had just left the meat case because she was sure that she’d need an ambulance to cart her away for having palpitations over the price of meat and she wondered just how people were feeding their families these days. Good thing some people are wondering about that because I’m sure that people who are trying to feed their families are wondering the same thing. What’s it going to be tonight? Ramen noodles AGAIN or rice. You see, the staple, peanut butter is out-priced for many. Have you seen the price of even an off-brand jar of peanut butter? It’s almost right up there with the name brand.
But then, I took a look at something else that just doesn’t add up. Take a look at this.
Updated: 06/25/2014 05:33 ET
DOW 16,867.51 +49.38
NASDAQ 4,379.76 +29.40
S&P 1,959.53 +9.55
The DOW is still at 16,000+ and yet, the economy is ‘contracting’. Inflation has reared its ugly head, food prices have skyrocketed and have you seen the price of gas recently? Why just two weeks ago, I was driven by the gas station and gas was $3.59 a gallon. That was in the morning. By evening, it was $3.69 a gallon. Today, it is $3.89 a gallon.
I did mention inflation, didn’t I? Well, what exactly IS inflation?
a general increase in prices and fall in the purchasing value of money.
So, as prices increase, sort of like what has been occurring in grocery stores all across America and wages have been stagnant again, all across America, this means that there is less and less purchasing power for the goods and services that have increased in price. No wonder I’m hearing that a great many Americans are holding onto their old vehicles and are having them serviced as opposed to heading to the dealership every two years to trade the old in for the new. Is this not a clear sign that we’ve never come out of the Great DEPRESSION? The lamestream media can hype shit up until the cows come home, go back and come back home again, but the truth will come out in some instances because empty wallets don’t lie. If you ain’t got it because by the time you’ve paid the mortgage/rent, electric/gas bill, phone, cable/internet, medical bills, food, car note/insurance, gas, there is nothing left over for discretionary spending. Family movie night is most likely a finger puppet show behind a sheet. Date night is probably a bottle of Boones Farm Strawberry wine and some Whitehall imitation cheese. Now, I gotta tell you about Whitehall imitation cheese. Don’t buy it! I don’t know what the hell it is. Years ago, when I had to seriously cut corners so damn bad that 50 cent imitation cheese looked good, I bought a package of this Whitehall ‘imitation cheese’ and let me tell you, this is the only thing that could make it unscathed through a nuke attack. I microwaved the shit out of that Whitehall ‘imitation cheese’, opened the microwave door and that shit was like, “is this all you got? Bring it!” I put that goddamn shit into the conventional oven, turned that sucker up to 450 degrees and can ya believe it? Forty minutes later, that fucking shit was smiling and completely unscathed.
You see, imitation this and imitation that is where we’re headed with the ‘contraction’ of the American economy. When Wal-Mart has been pissing and moaning over its dismal sales especially over its low sales of food items, the American economy is contracting. When Target is pissing and moaning and getting rid of top executives to try and rev up its sagging sales figures, the American economy is contracting. When car dealerships all across America are over-inventoried due to Americans holding on to their cars for as long as they possibly can, the American economy is contracting. When food stamps for millions of Americans continue to be cut, the American economy is going to contract. When rents are skyrocketing all across America, the American economy is going to contract. And let me repeat this, when wages all across America, remain stagnant, the American economy is going to contract and if anybody tells you that the ‘Great Recession’ is over, you say, “Whitehall! And I ain’t buying it, motherfuckers!”
And yet, if you look toward Wall Street, you would think that all is well and cozy here in the land of the hypnotized and the afraid. Don’t buy it, it’s Whitehall! It’s smoke and mirrors. It’s an illusion, it ain’t the real deal. Quietly, all over the world, governments are working tirelessly to put paid to the American dollar and as if we don’t have it bad enough already, it’s about to get worse and how! Oh, I’m not trying to scare anyone as there are so many who are already living a ‘worse case’ scenario. It’s just that millions more will soon join them and no, I am not liking this one bit. In fact, I was watching a video just yesterday about ‘going back to the basics’, living off the land and it was real interesting and it’ll probably get more and more popular as we head deeper into uncharted territory. I would recommend that you watch some of those videos of survival in the wild or surviving on nothing or ‘survival guide for the doomed’, or something like. I hope that you’ll never need it, but just in case, it could come in handy. Ya never know!
So, to my fellow Americans, try to remember what is really important, love, life and each other. We couldn’t understand that. But understand this, we have been heading towards a collapse for some time. The safety net has been gutted and yet, the Wall Street players are like the last dancers on the Titanic, wining and dining and having a great old time before the bottom drops out, pretending that we’re not sinking, we’ve just hit a temporary glitch and all will right itself soon. No indeed, that will not be the case. This ship is going down and there are no lifeboats for the millions who will drown in the sea of abject poverty, hopelessness and despair. America has fucked up too many times and has fucked over the world’s people, including her own, too many times for the shit to not come back and bite America’s ass. Unfortunately, the innocent will go down before the guilty do. That is the way it has always been because the guilty can still pay for the illusion while the rest of us behold reality. The reality of inflation, the reality of unpaid bills, the reality of standing in long lines at the food bank, the reality of no discretionary spending, the reality of choosing food over medicine, the reality of water shut-offs like what’s happened in Detroit. Detroit is having mass shut-offs of water for people who are jobless and can’t pay the water bill. This is just the beginning. Soon, there will be mass shut-offs of electricity. What is going to happen when winter sets in? What will people do? What city is next? This is our America people and it is truly sad that this country had so much potential for so many and yet so few took from the many and we passively let them and so now we come to this, a fool’s paradise, a rich man’s dream(for now) in our America.
Is it too late? You tell me….