AI Is Quietly Propping Up the U.S. Economy
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Tech saves the day. Yeah. There’s another CI told us a moment here on the program. We told you about our economy, our GDP numbers and where we’re heading. yeah, yeah. Tech AI has basically keeping the US economy afloat. You take a look at yesterday’s GDP report, Thursday’s first quarter GDP report.
AI related investment is driving over 1.5 % of that 2 % growth. Okay, get your arms around that. The same time, yeah, personal consumption expenditures rose at an annual rate of 4.5%. That’s inflation. That’s tariffs. Those are higher costs.
Now, again, you got Hassett and the various different economic lackeys, Bess and all that saying that, yep, the big beautiful bill is going to supercharge economic growth this year.
Really?
didn’t show up in the GDP report.
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consumer spending was down.
way down. Again, the only reason why consumer spending picked up in the month of March, because people had to pay more for gas. Wasn’t like they were buying more gas. It was that the gas was just more expensive.
Anyway, want to take a look at again the good parts of the report. Wall Street Journal points this out. Ten point four percent growth in business investment. OK. OK, that’s again that’s building out data centers, tech, whatever it may be. Google, Amazon, Microsoft and Meta reported a stunning one hundred and thirty billion.
in capital expenditures during the first quarter, building out these data centers, it’s a 71 % increase. You listen to the show, we talked about AI and how far it’s gotten into the overall economy and the jobs that it has replaced. again, big gap to what it is going to replace. I don’t know.
I don’t know at this point in time, because there’s going to be losers in this. You know, who’s going to end up being on top? We were playing as close attention to this as we possibly can. The reality is, is that the economy has to do better. Okay. The tariffs are a big hit. Again, it’s a, it is one of the biggest fricking own goals, self own and guy that bloody guy is so fricking stubborn. He cannot walk away from it.
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You listen your voters buy anything that you get. They buy your phone. They buy your watches. They buy all this. They buy your coins. Okay, come up with something. Mr. President, okay, come up. Come up with some BS excuse why we have to cancel terror. Just do it. Do it and then we will see higher growth. Anyway, gotta thank thank tech for saving the
GDP number was supposed to be 2.4, was in at two, but without tech, no bueno. Watchdogonwallstreet.com.
