I Dare You To Tell Me The Economy Is “Booming” After Reading This List Of 19 Facts About Our Current Economic Performance

Friday, May 3, 2019
By Paul Martin

by Michael Snyder
TheEconomicCollapseBlog.com
May 2, 2019

After taking an honest look at the facts, I don’t know how anyone can possibly claim that the U.S. economy is “booming”. I really don’t. We hear this sort of rhetoric from the mainstream media all the time, but it doesn’t make any sense. As I discussed yesterday, nobody should be using the term “booming” to describe the state of the U.S. economy until we have a full year when GDP growth is 3 percent or better, and at this point we haven’t had that since the middle of the Bush administration. And as you will see below, the latest numbers are clearly telling us that the U.S. economy is not even moving in the right direction. Economic conditions are getting worse, and they weren’t that great to begin with. According to the calculations that John Williams has made over at shadowstats.com, the U.S. economy is already in a recession, but of course the Federal Reserve will continue to tell us that everything is just fine for as long as they possibly can. Unfortunately for them, they can’t hide the depressingly bad numbers that are coming in from all over the economy, and those numbers are all telling us the same thing.

The following are 19 facts about our current economic performance that should deeply disturb all of us…

#1 In April, U.S. auto sales were down 6.1 percent. That was the worst decline in 8 years.

#2 The number of mortgage applications has fallen for four weeks in a row.

#3 We just witnessed the largest crash in luxury home sales in about 9 years.

#4 Existing home sales have now fallen for 13 months in a row.

#5 In March, total residential construction spending was down 8.4 percent from a year ago.

#6 U.S. manufacturing output was down 1.1 percent during the first quarter of this year.

The Rest…HERE

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