Ugly Economic Reality: The Numbers Don’t Lie

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Folks got some ugly, ugly, ugly economic numbers and I take no, no, there’s no pleasure at all and actually reporting on this quite frankly, it’s bad, but it’s it’s math. For some reason, some people out there think that I have it in or I’m rooting against the country or the economy. Well, what are you talking about?

What are you talking about? Yeah, I want the country to do well. I want the president to do well. Just not. There’s no way to sugarcoat things. It’s just math. It’s just numbers, people. Okay. Yeah. You know, they parade people on TV. It’s going to be better. It’s going be better. It’s going to be better. It’s not getting better. That’s just the reality. And again, these are things that I told you were going.

to happen. We talked about GDP growth. We talked about GDP growth and how awful that was again revised downward consumer sentiment, consumer confidence numbers, lowest on record, lowest on record. you know, Rick Santelli, and I like a lot of the stuff he does, but he’s a little, you know, again, I don’t like the people that that supposed to be

basically giving you business news and they get all the politics that are involved and that’s what CNBC has become in so many ways. Even he was like, it’s never been this low and his numbers went back to I think 1978. 1978, now, without a doubt, talked about consumer confidence, consumer sentiment. It is a fickle number. It is a fickle number, but…

You have a couple months like this. What does that tell you for, know, what people are going to do and how they are going to spend and whether or not they’re going to go on vacation and a myriad of other things. This is, this is basically confidence people. The inflation numbers year over year are at 3.3%. 3.3%. Again, the fed’s target is two. My target is zero.

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I don’t want any inflation. 3.3. And the expectations? Not good as far as inflation is concerned. 4.8.

Okay, again, I say this, whether there’s a donkey in the White House, there’s an elephant in the White House, again, it’s the old Bill Parcells line. You are what your record says you are. You are what your record says you are.

CPI inflation was 3 % when Biden left office, it’s 3.3 % now. The unemployment rate when Biden left office was 4.1, it’s 4.3 now, but that’s negligible. It’s basically the same thing. GDP growth down sharply.

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down sharply from where Biden had when he left, Biden was 2.8%. We left, yeah, that’s not great shakes, okay, by any stretch, but now, gas prices. Now there was a point in time, you know, during the Biden administration, without a doubt, their overall average for their four years was pretty high.

But by the time he left office, it was $3.10 a gallon. you know, what’s what is it now? 425?

and I get stalled depending upon where you live in the country. Inflation expectations were 2.8 % and they’re now 4.8%. Fed funds rate basically the same. Labor force participation slightly down, but it’s really not a big deal. It’s basically flat. Job openings are down. People, I don’t want to port on this.

I really don’t. don’t like at all. What am I supposed to ignore it?

supposed to ignore it because, know, I voted for this guy or, know, people, we have to have some sort of evaluations and give me a break with the butts, but, but, but, but, but, that’s all I hear out is, but, but, this, but this, but no, it’s bad. and I wasn’t, you know, the president interviewed, by Bartiromo yesterday on her program.

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And I mean, he was asked about this and actually said, you know, gas prices will probably be up come the midterms. No big what? And then he went on and talked about the Gulf of America and how great it is that he changed the name from Gulf of Mexico to Gulf of America for two minutes. Two minutes, don’t believe me. Go watch the video. Go watch the video.

We’re gonna talk about the various different issues with what’s going on with the Strait of Hormuz, it’s gonna another podcast and the geopolitical, the economic things and what might transpire. But we have to do much better on the home front. And when you continue to parade.

these various different Republicans up there with this stupid grin on their face telling you that everything is awesome and everyone knows better.

Everyone knows, but hey, listen, you know, the boomers out there, you know, the boomers that saved them, you know, they’ve got their 401ks and all that stuff. You know, it’s doing just fine. Okay. They’re doing just fine. They’re not really going to change much for them, but there’s a large swath of the country that doesn’t fall into that category. And they’re feeling it. Watchdog on wallstreet.com.