Washington Post: U.S. economy grew 5.7 percent in 2021, fastest full-year clip since 1984, despite ongoing pandemic
The U.S. economy grew by 5.7 percent in 2021, the fastest full-year clip since 1984, roaring back in the pandemic’s second year despite two new virus variants that rocked the country.
The growth was uneven, with a burst of government spending helping propel a fast start, even as a surge in new cases and deaths in the second half of the year created new pressures. The economy grew by 6.9 percent from October to December, the Bureau of Economic Analysis said Thursday, a sharp acceleration from 2.3 percent in the previous quarter.
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WNU Editor: The media narrative is that the US economy is booming. But in the real world when inflation is taken into consideration, the US economy is actually contracting .... December Inflation Hits 7%, Fastest Since 1982, As Fed Vows Rate Action (The Street).
2 comments:
Inflation incentivizes companies and people to order early to beat the price increases. Eventually the buildup is satiated and the reverse happens.
Part of it is that people claw there way out of depression, because they want to live. Recovery can be in spite of the government.
During the bad old days of FDR in the late 1930s, people created their own money, because FDR did not know WTF he was doing.
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