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April 2020 Was the Greatest Month Ever
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For growth in personal income, anyway:

Reflecting the distribution of stimulus checks by the federal government, the Commerce Department released a report on Friday unexpectedly showing a substantial increase in U.S. personal income in the month of April.

The Commerce Department said personal income spiked by 10.5 percent in April after tumbling by a revised 2.2 percent in March.

Incomes are up, consumer prices are down, the dollar is invincible, and only nonsensical doomerists think deficits matter. Extend the CARES act unemployment provisions set to expire at the end of July, make the stimulus checks recurring, and prosperity is here to stay. We cracked the code. We’re richer than ever before and as a bonus a lucky few 40 million people have been able to retire in comfort along the way. Bummer about the lost lives of course, but talk about a silver lining!

 
• Category: Economics • Tags: Catastrophe, Economics 
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  1. Incomes are up, consumer prices are down, the dollar is invincible…

    …and I am inevitable.

    So, now that a full 50% of GDP has been officially Thanos-ed by the incompetent Farquaads in the governors’ seats with the full approval of their lackeys in the media, over a virus which will not kill 99.97% of all Americans and which even the CDC now admits is just the flu bro, and with the bonus of American cities burning to the ground, can we finally start to see that maybe Team Panic had it all wrong?

  2. It makes me rather suspicious of all economic statistics.

  3. The future is going to be great, as long as nobody eats all the jelly beans!

  4. Incomes are up, consumer prices are down,

    Which means Audie Baby has to eat the terror bird.

    His exact quote was :

    https://www.unz.com/anepigone/the-coming-crash/?highlight=inflation

    ” for a catastrophic drop in US markets as a decade’s worth of inflation into assets spills out of them and washes over the consumer market. The CPI-measured inflation spike that should have happened several years ago crashes onto the scene with a vengeance.”

    This did not happen even though there was a stock market crash (and this is exactly not how inflation works anyway).

    • Replies: @Audacious Epigone
    @Thomm

    Inflation occurs when money is created. That has definitely happened. The question is whether that will show up in consumer prices or not.

    The May CPI figures come out in a week. A month after that, June's will be up.

  5. I think the Audacious One should be Trump’s campaign manager! That’s some seriously top notch spinmeistering!

  6. @Thomm

    Incomes are up, consumer prices are down,
     
    Which means Audie Baby has to eat the terror bird.

    His exact quote was :

    https://www.unz.com/anepigone/the-coming-crash/?highlight=inflation


    ” for a catastrophic drop in US markets as a decade’s worth of inflation into assets spills out of them and washes over the consumer market. The CPI-measured inflation spike that should have happened several years ago crashes onto the scene with a vengeance.”
     
    This did not happen even though there was a stock market crash (and this is exactly not how inflation works anyway).

    Replies: @Audacious Epigone

    Inflation occurs when money is created. That has definitely happened. The question is whether that will show up in consumer prices or not.

    The May CPI figures come out in a week. A month after that, June’s will be up.

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