Economic Growth Falls Short, Consumer Spending Slows

Consumers are either running out of money, having no products to buy, or are just getting sick of higher prices.

Either way, consumer spending dropped dramatically in the third quarter, with the growth rate falling short of expectations by almost 30 percent.

The two percent increase was a dramatic fall from the second quarter, which showed a 6.7 percent growth.

Bad News for Biden

There are a lot of factors that go into the dramatic swing, none of them good for the Biden administration.

First and foremost is the supply chain shortage.

If you have gone to any store or even ordered products online, you already know there are significant shortages of highly used products.

If the products are not available, people cannot spend money.

One area where this is really taking a toll is in the automotive industry.

Secondly, the higher prices of products have also had people slow down purchasing on some luxury items.

Thirdly, all that “free” money the government was handing out has suddenly dried up, so people are tightening up their purse strings.

The White House will tell you all of this is good, but common sense says that the bubble is about to burst, and a lot of people are going to get splashed.

Now, Florida has stepped up to open its ports for all the cargo ships anchored off the California coast, so we will see how much of an impact that has in the next quarter.

However, keep in mind, vaccine mandates are all kicking in for federal jobs, many first responders, and the military.

Additionally, once the new OSHA rules go into effect, those mandates will start to impact the private sector, which could add significantly to unemployment numbers, especially for minorities, who by far are the largest demographic to resist the vaccine.

The timing of this could be an absolute disaster for Biden and Democrats, as the worst of this will be hitting just as the 2022 campaign season really starts to heat up.

Source: Fox Business

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20 Responses

  1. WE NEED TO GET THE BIDEN ADMINISTRATION ALONG WITH ALL HIS CRONIES OUT OF THE WHITE HOUSE.

      1. I agree about the destroy part, but not about the power broker being Chjina, rather the rich six, who money drives what ever cart they want to push or tow!

    1. I totally agree with you Mary. This Administration is doing all they can to turn our country into a 3rd world country. We still have a little over a year before the midterm election and who know what this country will be like then.

  2. Biden’s and Pelosi’s are out of touch with the American people on their anti-American policies. Nothing they have done has benefited any of us. Our streets are less safe, our gas and groceries cost way more, we can’t buy products because the store shelves are empty. Who wants this kind of America. I want religious tolerance, free speech and expression, freedom from fear and freedom from want. All things enumerated a long time ago by a Democratic
    President but I bet not many know because we are trying to erase our great history and make us angry about it.
    We have made tremendous progress in the last part of the 20th Century and in the first 20 years of this one. We are
    still working to be the utopia we all want but the policies of Biden and Pelosi will send us into regression and suppression. Give me liberty or give me Death.

  3. C E Noe
    You are 100% spot on!
    The democrats hated President Trump so badly, they are doing all they can to ruin our Country!
    Vote RED in 2022/2024!

  4. Not surprised at the poor showing in the economy the Biden administration is so far out of touch with the American people int is disgusting if this is. Biden’s plan to “build back better” then we are in big trouble, it seems that every day more bad news is told to the American people and no-one in Washington is doing anything about it the administration is the worst I have ever seen

  5. Reminds me of a time when I was asked to but another person a coffee, I told him I don’t have the money and he responded, of course you do….. but I didn’t. His thinking was that he had the money so I must also, he never gave concern that he was making $40-$50 G’s a year and I was only making $15’G year…. Congress is the same, because they can afford something they think everyone else can also….

  6. So sad, where is Black Lives Matter on all of this, Al Sharpton, it hurts the poor, black community, crickets. Why aren’t they talking about mandates, natural immunity, Trump increased jobs and opportunity for ALL. Why did they not getting the message? They had nothing to lose and do much to gain

  7. Some how I don’t think that the “Village Idiot” in the white House cares about it; IF he even knows !!!!!!!!!!!! He only knows what his masters WANT him to know !!!!!!!!!!!!!

  8. Donald J Trump ! 2016 , 2020 ,2024
    Joe wasn’t watching when Trump fixed
    all the Democrat stupidness last time !
    Damn Joe Don just showed you how !
    I have worked with people just like this !
    Too dumb to learn ! Like drug addicts !
    The agenda of Democrats is to disarm Americans and overthrow the country. !

  9. Joe Biden …..Democrat
    First American president to bow down to a Chinese dictator, his Idol XI
    Biden said they’re good folks !
    A red flag pointing to mental illness !
    His retelling of old lies is another.!
    China helped Joe in 2020
    COVID 19 PROVIDED by Democrats !

  10. Why did Fauci lie about Gain of function? WHY ???
    Why aren’t democrats insisting on finding out WHY ???
    Why is China hiding facts ?
    Because answers that expose truths can’t be released Right China Joe !!!
    Build Back Better is bull spit !

  11. Trump Donated his salary to America !
    Let’s see the big guy show his love !!!
    We all know Joe Biden’s love is money !
    Look at Hunters laptop for the truth !!
    Getting a dollar from Joe would be harder than getting a nickel from Bernie
    SO NO Joe won’t be paying America !
    Joe Biden is a DISGRACE !!!!!!

  12. All who voted for this idiot Biden shouldn’t complain. This is what they get. President Trump warn then last time
    not to vote for this idiot Biden but they did it anyway. You hated President Trump but he knows how to run the country. You voted for this idiot guy who forget how read and does not know where he is.
    Next time you vote examine very well the person. This idiot Biden is a liar. He lie all the time.
    You can see how he walks. He is not competent of himself when he walks.

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