Explaining the Quirks in the GDP Report
The recent BEA "Advance Estimate" for 1q GDP growth showed a lackluster drop of 0.3 percent, but it included unusually large swings in private inventories and imports, as well as a drop in federal expenditures. Some MAGA fans have argued that once you account for these misleading figures, the report signifies a healthy economy. Murphy mostly disagrees, and shows why the report--taken at face value--does indeed signify poor economic performance.
Peter St. Onge, "GDP Goes Negative. And it's Glorious.": Mises.org/HAP499a
The GDP Report: Mises.org/HAP499b
Human Action Podcast on Unpacking Trumps…
The skinny
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