The recent BEA “Advance Estimate” for 1q GDP growth showed a lackluster drop of 0.3 percent, but it included unusually large swings in private inventories and imports, as well as a drop in federal expenditures. Some MAGA fans have argued that once you account for these misleading figures, the report signifies a healthy economy. Murphy mostly disagrees, and shows why the report–taken at face value–does indeed signify poor economic performance.
Peter St. Onge, “GDP Goes Negative. And it’s Glorious.”: https://Mises.org/HAP499a
The GDP Report: https://Mises.org/HAP499b
Human Action Podcast on Unpacking Trumps Tariff Strategy: https://Mises.org/HAP499c
Bob’s Mises Daily Article, “Inventories Don’t Kill Growth — People Kill Growth”: https://Mises.org/HAP499d
The Mises Institute is giving away 100,000 copies of Murray Rothbard’s, What Has Government Done to Our Money? Get your free copy at https://Mises.org/HAPodFree
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