Collapse: Single Largest US Economy Driver About to Collapse

Graham Summers * Phoenix Capital Research The markets continue their dead cat bounce while the economic data worsens. First quarter US GDP was revised down from an annual rate of 2.4% to 1.8%. The drop was due to lower personal consumption expenditures than initially forecast. This is the crux of the US’s current economic woes: consumer-spending accounts for roughly 70% of our GDP.



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