Press "Enter" to skip to content

Warning Signs Indicate a Great Depression May Be Coming


Joe Biden was quick to pat himself on the back after the latest numbers from the Bureau of Economic Analysis showed that the U.S. economy grew by 2.9% in the fourth quarter of 2022 and 2.1% for the entire year.

“Last quarter, our economy grew at a 2.9% annual pace – solid growth, even as we continue to bring inflation down,” Biden tweeted. “Our economic plan worked. And it still is.”

But according to the Heritage Foundation, the latest report “should have alarm bells ringing, not trumpets sounding.”

“That’s because economic growth is slowing down,” explains research fellow EJ Antoni. “Even the areas which contributed positively to gross domestic product (GDP) are not necessarily signs of prosperity. For example, business investment grew at only 1.4 percent in the fourth quarter, but that was almost entirely inventory growth. Nonresidential investment, a key driver of future economic growth, was up just 0.7 percent.”

“Meanwhile, residential investment fell off a cliff,” Antoni continued, “dropping 26.7 percent as consumers were unable to afford the combination of high home prices, high interest rates and falling real incomes. No wonder homeownership affordability has fallen to the lowest level in that metric’s history.”

There was a gain in net exports, but that was largely a mirage created by a major slowdown in international trade. “Imports are simply falling faster than exports, which shows up as an increase in GDP.”

Read Full Article Here…(

Home | Caravan to Midnight (

We Need Your Help To Keep Caravan To Midnight Going

Please Consider Donating To Help Keep Independent Media Independent

Be First to Comment

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Breaking News: