Economic Lunacy

According to preliminary data, the US economy grew at an annualized rate of 2.4% in Q2, exceeding analysts' estimates of 1.7% and Q1 growth of 2%. The growth was attributed to a significant increase in investments by businesses and consumer spending. Analysts say the data show resiliency in the economy amid a strong labor market, with average hourly earnings rising 4.4% year-over-year last month and as annual inflation growth continues to slow following the Federal Reserve's interest rate hikes. But this data is nonsense and I’ll explain why on the podcast.

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