BIDEN ECONOMY: The US Trade Deficit Hit a Record All-Time High in January – Inflation Expected to be Worse than Expected

[TigerGrowls]

BIDEN ECONOMY: The US Trade Deficit Hit a Record All-Time High in January - Inflation Expected to be Worse than Expected

www.thegatewaypundit.com

By Joe Hoft
Published February 28, 2022 at 7:45pm

More horrible news on the Biden economy. Now Biden holds the record for the worst trade deficit ever. ​

Reuters reported on the record-setting trade deficit this morning.

The U.S. trade deficit in goods widened sharply to a record high in January amid an increase in imports as businesses continued to replenish depleted inventories.

The pace of inventory accumulation reported by the Commerce Department on Monday was, however, slower than in recent months. That, together with the surge in the goods trade deficit, prompted economists at Goldman Sachs to lower their gross domestic product growth estimate for the first quarter by 0.5 percentage point to a 1.5% annualized rate.
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The economy grew at a 7.0% pace in the fourth quarter, with inventories contributing a whopping 4.90 percentage points.
“We remain on track for another strong gain in real business inventories in the first quarter, although inventories may end being fairly close to a neutral factor for GDP growth considering that the fourth quarter buildup of inventories also was substantial,” said Daniel Silver, an economist at JPMorgan in New York.
The goods trade deficit jumped 7.1% to an all-time high of $107.6 billion last month. Imports of goods increased 1.7%, led by food and motor vehicles. There were also large increases in imports of industrial supplies, capital and consumer goods. Imports of other goods, however, tumbled 15.3%.

Exports dropped 1.8%, weighed down by consumer goods, motor vehicles, food and other goods. But exports of capital goods and industrial supplies increased.

In addition, the Conservative Treehouse mentioned that inflation is expected to be worse than expected.

U.S. inflation will be even worse this year than expected, after the Federal Reserve’s primary inflation measurement hit its highest level in 40 years, according to a new report from Goldman Sachs.
The personal consumption expenditures (PCE) price index rose 6.1 percent in January from a year ago, the largest annual gain since February 1982, as seen in federal data released Friday.

More horrible news for the horrible people in the horrible Biden Administration.​

 

[gardentiger]

No no it's all good...600trillion new jobs in the last quarter.

 

[clempzenbill]

This could actually be good for inflation. It’s my belief that the reason we could print so much money for so long without runaway inflation was that so much of the cash goes out of the country. I think we’ve now printed so much that it’s devalued our currency more than that balancing of cash leaving our local economy can mitigate. I’m afraid we very close to the point of no return though. Too many very bad elements to this economic climate were in. The world as a whole is in massive unprecedented debt due to the dumb panic lock downs and all the damaging effects which are a laundry list of ill consequences

 

[TigerGrowls]

This could actually be good for inflation. It’s my belief that the reason we could print so much money for so long without runaway inflation was that so much of the cash goes out of the country. I think we’ve now printed so much that it’s devalued our currency more than that balancing of cash leaving our local economy can mitigate. I’m afraid we very close to the point of no return though. Too many very bad elements to this economic climate were in. The world as a whole is in massive unprecedented debt due to the dumb panic lock downs and all the damaging effects which are a laundry list of ill consequences

i think the world economy will go through a mega crash and then reset within the next 10 years max and maybe much sooner.

 

[TigerGrowls]

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[TigerGrowls]

'It's the Way it Is' - Pelosi Casually Admits Biden's Policies Created Inflation (VIDEO)

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[gardentiger]

The US private sector sits on more than $35 trillion of debt and you think mortgage rates and corporate bond yields above 5% will have no impact on the system?

Think again.

 

[clempzenbill]

The US private sector sits on more than $35 trillion of debt and you think mortgage rates and corporate bond yields above 5% will have no impact on the system?

Think again.

Just spoke with a CFP with over 35 yrs investing today. He’s says global recession is here and probably depression on an unprecedented scale. Negative GDP will get worse as supply chain gets worse. Markets are going down by more than fifty percent. Buckle up for a long bumpy ride, and buy extra food.

 

[ForzaTigre]

Just spoke with a CFP with over 35 yrs investing today. He’s says global recession is here and probably depression on an unprecedented scale. Negative GDP will get worse as supply chain gets worse. Markets are going down by more than fifty percent. Buckle up for a long bumpy ride, and buy extra food.

I honestly can’t imagine surrounding myself with people who haves views like this.

 

[DW4_2016]

I honestly can’t imagine surrounding myself with people who haves views like this.

He’s recommending investing in food, so I can see where his friends might not be the brightest bulbs.