It’s hard to believe the destruction and devastation one man can cause in such a short period of time.
The Biden administration has blown past all economic predictions as his policies plunge the United States into near collapse. Not only have prices for common goods and services skyrocketed, but taxes are increasing and financial security is waning.
Under Trump, the economy was roaring — even as we emerged from a global pandemic. The Former President cut red tape, regulations, and made it generally more pleasant to do business in the United States. Not to mention his historic tax cuts.
As a result, the American people were never so well-off. Wages were up, the GDP was soaring, and we were finally taken seriously as a economic powerhouse after eight years of stagnation under Obama.
But now, that’s all been destroyed by the globalist takeover of the Biden administration.
Orders and shipments of computers and autos fell in June as consumers, dealers, and manufacturers continue to struggle with shortages in parts and labor, as well as soaring shipping and materials costs.
New orders for motor vehicles fell 0.3 percent in June, after rising 2.0 percent in May, data from the Commerce Department said Tuesday. Shipments of cars and trucks fell 0.5 percent.
Similarly, orders of computers and related products fell 0.6 percent and shipments declined 1.7 percent.
Orders for appliances were flat for the month while shipments rose one percent.
Overall, however, new orders for products meant to last at least three years, known as durable goods, rose 0.8 percent to a seasonally adjusted $257.6 billion in June as compared with May. That was a smaller gain than economists expected.
Orders for the prior month were revised up strongly, showing a 3.2 percent gain in May from April. Originally, this was reported as 2.3 percent. Orders have been up for 13 of the last 14 months.
New orders for nondefense capital goods excluding aircraft—considered a proxy for business investment—increased a better than expected 0.5 percent in June from the previous month. The prior month such orders also were also revised up to show a 0.5 percent gain (from a one-tenth point gain initially).
Author: Sebastian Hayworth