by David Haggith
GoldSeek
According to Bidenomics, it’s new construction everywhere and robust consumers.
Yet, as the tech sector in US stocks saw shares slammed down around 4%, NVIDIA, which so many stock promoters said could not see a collapse like a dot-com bust, fell almost 10% in just this one day (down 9.5%). No biggie! The economy is great!
Last week, we got a revised GDP report from Uncle Joe’s Fantasy Land that said GDP rose 3% in the second quarter due to surging consumer expenditures, while two of the nation’s large retailers reported hugely declining sales or bankruptcy due to failing consumer expenditures. That adds up.
Surely, Dollar General didn’t collapse entirely in the first two months of the third quarter, so how did it begin the bankruptcy process, giving a reason for declining consumer expenditures if the consumer is so robust and exuberant as to be the big driver of GDP growth in the second quarter?