GDP grew less than initially thought in first quarter; inflation reading eases

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  • Опубліковано 19 сер 2024
  • CNBC's Rick Santelli joins 'Squawk Box' with the latest economic data.

КОМЕНТАРІ • 105

  • @LoughBellis
    @LoughBellis Місяць тому +112

    The only American who won't acknowledge this Administration's failed economic policies is Joe Biden. "Shrink-flation' is the least of our worries compared to rising rents and stagnant wages, but it is an undeniable indicator of how bad our inflation has gotten. I have $100k that i like to invest in a non-retirement account, any advice on that?

    • @PitcockRoth-9876
      @PitcockRoth-9876 Місяць тому +4

      I would avoid index funds, mutual funds, and specific stocks for the time being. Right now, the best option is a fixed income of five percent. Put money aside for the times when the market really starts to bounce back.

    • @PhilomenaCopple
      @PhilomenaCopple Місяць тому +1

      45% of Americans do not invest in the stock market because of lack of guidance. Every year you don't invest, you are falling behind. I’m hitting numbers in the stock market I used to dream of… Going from $50k to $600k in my portfolio is surreal all thanks to insights from my financial advisor.

    • @NoorFrohock
      @NoorFrohock Місяць тому +2

      Your adviser must be really good, I hope it's okay to inquire if you're still collaborating with the same adviser and how I can get in touch with them?

    • @PhilomenaCopple
      @PhilomenaCopple Місяць тому +2

      She goes by ‘Carol Vivian Constable’’ I suggest you look her up. To be honest, I almost didn't buy the idea of letting someone handle growing my finance, but so glad I did

    • @NoorFrohock
      @NoorFrohock Місяць тому +2

      Thank you! I entered her full name into my browser, and her website came out on top. I filled her form and i hope she gets back to me soon.

  • @bernardallen55
    @bernardallen55 2 місяці тому +70

    America is presently besieged by the hydra-headed evil combo of inflation and recession. The worst aspect about this crisis is that consumers are piling up credit card debt. Credit card debt increased by 20% in April alone, while interest rates have doubled in a year. Inflation is so severe that customers are essentially going into debt to buy basic essentials. The collapse has certainly begun.

    • @andrewlogan7737
      @andrewlogan7737 2 місяці тому +5

      Every day, we face a new challenge. It has become the new normal. We felt it was a catastrophe at first, but now we know it's a new normal to which we must adjust. This year will be a year of great economic suffering across the country. What initiatives can we take to earn additional revenue during the period of quantitative adjustment? I can't afford for my hard-earned $200k to fall to dust.

    • @ryanrobertson368
      @ryanrobertson368 2 місяці тому +4

      More reason I enjoy my day to day market decisions is that i'm being guided by a portfolio-coach, seeing that their entire skillset is built around going long and short at the same time, both employing profit-oriented strategy and laying off risk as a hedge against the inevitable downtrends, coupled with the exclusive information/analysis, it's quite impossible not to

    • @mikeharry96
      @mikeharry96 2 місяці тому +4

      That's something I've been considering. I have a lot of stocks that I've kept, but they're starting to lose value, so I'm not sure if I should keep them or sell them. Hiring your investment coach would make it much easier for me to rebuild my portfolio.

    • @ryanrobertson368
      @ryanrobertson368 2 місяці тому +3

      Her name is Sharon Ann Meny can't divulge much. Most likely, the internet should have her basic info, you can research if you like

  • @user-uc2qk8wg6z
    @user-uc2qk8wg6z 2 місяці тому +9

    I'm sure Rick is the kind of dude to listen *Death Metal* at max volume during the weekend

  • @nothimbutbetteractually
    @nothimbutbetteractually 2 місяці тому +21

    Rick is a good dude.

  • @grandmiserthe3rd434
    @grandmiserthe3rd434 2 місяці тому +23

    Subtract Government spending from GDP = Real GDP ......!!!

    • @Felix-op1rw
      @Felix-op1rw 2 місяці тому +3

      nonsense comment. if you would know what real gdp is you would understand that it doesnt matter who spends it

    • @816928
      @816928 2 місяці тому +9

      @@Felix-op1rw It absolutely does when you run 2 trillion deficits as far as the eye can see.

    • @cryptojeetu7599
      @cryptojeetu7599 2 місяці тому

      @@816928 Exactly it's like going on vacations by taking on credit card debt and claiming you are prosperous

    • @Scott-nj9gq
      @Scott-nj9gq 2 місяці тому

      @@816928 Felix has no clue.

    • @Jeevanm71
      @Jeevanm71 2 місяці тому

      lol private profit is a result of government deficits always.

  • @RickMcCargar
    @RickMcCargar 2 місяці тому +29

    They always lie about the initial numbers that are always later lowered...when no one is paying attention.

    • @816928
      @816928 2 місяці тому +8

      "revised down", lol. Same with the job numbers, each and every friggin month.

    • @ryann8348
      @ryann8348 2 місяці тому +1

      The Fed of St Louis has an article named "Do Revisions to GDP Follow Patterns?" with a nice graphical chart. It looks pretty random to me

    • @illegalsmirf
      @illegalsmirf 2 місяці тому

      @@ryann8348 That's like trusting the pharmaceutical industry to investigate itself.

  • @hasenafarms6448
    @hasenafarms6448 2 місяці тому +6

    Revisions are ALWAYS downward. That’s not an accident.

  • @1991RedRocker
    @1991RedRocker 2 місяці тому +8

    There's simply no way inflation is at only 3%. It's much higher and we're all feeling it. They're (bureaucrats working as fellow travelers for the current administration) cooking the numbers.

    • @ldwmachine6062
      @ldwmachine6062 2 місяці тому +2

      Remember, inflation is cumulative. So it just isn't growing as fast and our wages haven't caught up with the >17% we have felt in the last few years...

    • @kennethyoung2221
      @kennethyoung2221 2 місяці тому

      @@ldwmachine6062 I bring that up every time a smooth brain says Biden has brought inflation down. To 3%. I say he ran it up to 15%. Now that's the baseline. If inflation went to zero, you would still be about 20% behind since he took office. Incredible.

    • @airrick2big18
      @airrick2big18 2 місяці тому

      Source: “Trust me bro”

  • @SkywalkerPMs
    @SkywalkerPMs 2 місяці тому +7

    Stagflation

  • @jakebrayojeda4867
    @jakebrayojeda4867 2 місяці тому +16

    Imagine us! It would be nice to put all those numbers on the screen for your viewers.

  • @user-yz3bu7dl8c
    @user-yz3bu7dl8c 2 місяці тому +10

    "The US is indeed experiencing stagflation. The citizens' feelings are accurate, while the government's numbers are incorrect.

    • @gilbertovanessian6998
      @gilbertovanessian6998 2 місяці тому

      Whatever the government reports is valid, everything else is invalid. It's not about how people feel

    • @drscopeify
      @drscopeify 2 місяці тому

      So says some guy in China, why not worry about your country first?

  • @willielong7893
    @willielong7893 2 місяці тому +1

    Rick is one of my favorite commentators. Go Rick!!!😊

  • @ahmctampageorged1589
    @ahmctampageorged1589 2 місяці тому +1

    I donr understand how these numbers are NEVER accurate. And always revised

  • @FLIPPER305
    @FLIPPER305 2 місяці тому +1

    They forgot to mention shrinking corporate profits

  • @weirdshibainu
    @weirdshibainu 2 місяці тому +8

    These people have one job to do-provide accurate economic data and despite all their resources, they just can't pull that off.

    • @happiness5432
      @happiness5432 2 місяці тому

      Its political. Because better numbers make headlines. Revisions don't. With better numbers they can claim everything is well and good.

    • @drscopeify
      @drscopeify 2 місяці тому

      @@happiness5432 Well actually it is controlled by Congress so funny enough Republicans control it.

  • @Dptl
    @Dptl 2 місяці тому +4

    Nice spin off.. lets talk about GDP.

  • @dons3073
    @dons3073 2 місяці тому +2

    Inflation is hot and you know it

    • @drscopeify
      @drscopeify 2 місяці тому

      It's so hot it's melted itself out of the room.

  • @mistareee
    @mistareee 2 місяці тому +4

    He is the worst at explaining things. Can we get someone who actually breaks things down nicely? Its been decades

    • @drscopeify
      @drscopeify 2 місяці тому

      Its not that he needs to explain but that you need to learn. That's the beauty of it all, anyone that invests a little bit of time can learn what it all means and be a smarter person for it and make good economic moves.

  • @darylb5564
    @darylb5564 2 місяці тому

    I’m always shocked when the numbers get revised in a way the administration doesn’t like. You will hear this nowhere else…

  • @AndreaRoberto-wm3th
    @AndreaRoberto-wm3th Місяць тому +3

    I just want my money to keep outgrowing the inflation rate. That’s why i've been looking for the right companies now to invest about 150k i have packed in the bank, i hope NVDIA is the right choice. Just don't know strategies to employ to make significant gains.

    • @jackwillison177
      @jackwillison177 Місяць тому

      QCOM, AMD, NVDA are all good buys.

    • @vivianlucy141
      @vivianlucy141 Місяць тому

      Choose quality stocks and follow them up. If you're not one for such complexities, hire a financial advisor to grow your money. I use the latter. My portfolio gained $47k in the last quarter.

    • @Williamjame444
      @Williamjame444 Місяць тому +2

      You're right, I and a few Neighbors in Bel Air Area work with an advisor who prefers we DCA across other prospective sectors. Instead of a lump sum purchase, Following this, my portfolio grew 40% in the last quarter.

    • @MizThe
      @MizThe Місяць тому

      I'm intrigued by this. I've searched for financial advisors online but it's kind of hard to get in touch with one. Okay if I ask you for a recommendation??

    • @Williamjame444
      @Williamjame444 Місяць тому +4

      I'm cautious about giving specific recommendations since everyone's situation varies, but I've worked with "Melissa Elise Robinson" for years and highly recommend her. See if she meets your criteria.

  • @Alpharizzchad
    @Alpharizzchad 2 місяці тому +1

    No rate change

  • @rickhayes-oh2zm
    @rickhayes-oh2zm 2 місяці тому +1

    With inflation higher than 3.1% deflation gdp is minus. What a bunch of crooks.

    • @drscopeify
      @drscopeify 2 місяці тому

      No no no GDP is already corrected for inflation it is called REAL GDP for a reason

  • @method341
    @method341 2 місяці тому +15

    Santelli has to be on the white powder

    • @aaronsmith4772
      @aaronsmith4772 2 місяці тому +5

      He's so annoying. Calm down FFS.

    • @method341
      @method341 2 місяці тому +1

      @@aaronsmith4772 they need to give him like 10 minutes to explain it, not just a few

    • @EricBrown
      @EricBrown 2 місяці тому +2

      @@method341 If they gave Rick 10 minutes, he'd lather himself up into a full blown, right-wing meltdown.

    • @method341
      @method341 2 місяці тому +2

      @@EricBrown I want to hear his political rants though

    • @RichardKing-sx6xc
      @RichardKing-sx6xc 2 місяці тому

      And Kundlow too...(Johnny Walker Black also) 😆😂🤣😅

  • @mark11967AD
    @mark11967AD 2 місяці тому

    A lack of competition and too many mega mergers will lead to price gouging plain and simple. The food industry being a prime example. And Real estate collectives growing every day. That’s part of your “inflation.”

    • @drscopeify
      @drscopeify 2 місяці тому

      Good point that is 100% a problem

  • @keqinyangmuseum6183
    @keqinyangmuseum6183 Місяць тому

    Why you don't hope 5-6 % GDP? When you have highest hope that new ways new formula coming to you.

  • @marcelorachevsky8944
    @marcelorachevsky8944 2 місяці тому

    Nice!

  • @juanrestrepo302
    @juanrestrepo302 2 місяці тому +8

    Way to Go! Strong Labor Market and Solid Economy

    • @RedWingsRule1
      @RedWingsRule1 2 місяці тому +4

      The street doesn’t think so.

    • @drscopeify
      @drscopeify 2 місяці тому

      @@RedWingsRule1 The street sees prices stabilizing and falling so they are no longer in a need to rush and FOMO so not a surprise here.

  • @dbraymore
    @dbraymore 2 місяці тому

    Trying to listen to this guy is like trying to listen to an auctioneer. Who hires these people.

  • @MrSocko-vn7fw
    @MrSocko-vn7fw 2 місяці тому +1

    Does anyone believe any of this “data” lol

  • @erichvonmolder9310
    @erichvonmolder9310 2 місяці тому

    Oh, those chat boxes will unfortunately keep up with him, wait and see.

  • @nb73363
    @nb73363 2 місяці тому

    If you close your eyes it sounds like Jimmy Kimmel

  • @jjbdbd8279
    @jjbdbd8279 2 місяці тому

    Thought that shih was coming out tomorrow

  • @djc283
    @djc283 2 місяці тому

    Always depressing Rick . At least he wasn't screaming as always.

  • @huynguyentoantin
    @huynguyentoantin 2 місяці тому

    So that's clearly a political game. It's stupid though

  • @michaelc1063
    @michaelc1063 2 місяці тому

    BECKY 😍

  • @sarwarkhan1185
    @sarwarkhan1185 2 місяці тому

    Yea unemployment must be rising now

  • @dons3073
    @dons3073 2 місяці тому

    Inflation is not easying

  • @yappydabbad9323
    @yappydabbad9323 2 місяці тому +3

    Rate cuts incoming

  • @LumenMichaelOne
    @LumenMichaelOne 2 місяці тому +2

    Rick Santelli is a Super-Hero! ... 🦸

  • @talescrypt8387
    @talescrypt8387 2 місяці тому +1

    Stagflation