Lower Healthcare Spending Just Destroyed America's Economy


mentalfloss
#1
Make America Recession Again


America's economy just had its worst quarter since 2008

America's first-quarter GDP, the most expansive measure of the US economy, fell at a 4.8% annualized rate, the US Bureau of Economic Analysis reported on Wednesday.

Much of America's GDP decline was driven by lower-than-usual healthcare spending, as people delayed elective procedures.

The awful first-quarter report was alarming, considering the US economy was humming along in January and February until it came to a screeching halt in mid-March, when businesses shut and stay-at-home orders were put in place across the country. That was enough to offset the economic activity in January and February. The decline was worse than economists had predicted: The Refinitiv consensus forecast was -4%.

"The economy has fallen off the cliff and broken its neck with the only thing consumers are buying are nondurable goods like food and beverages for 'off-premises consumption,'" said MUFG chief financial economist Chris Rupkey.

https://www.cnn.com/2020/04/29/econo...rus/index.html
 
Hoid
#2
Buy Tesla

Tesla, Inc. (TSLA)

826.64+26.13 (+3.26%)

As of 11:23AM EDT. Market open.
 
mentalfloss
#3
Holy shit, they're killing it.

Suncore should start manufacturing electric cars.
 

Similar Threads

110
3
Government Healthcare In America
by Liberalman | Jul 23rd, 2009
88
America's Inadequate Healthcare
by GlobalNirvana | Jul 13th, 2006