Amazon Earnings Collapse While The Economy Grows? How?
Today we found out third quarter GDP increased 2.6% and yet Amazon earnings have fallen 49% in the same quarter. The two biggest headlines of the day seem entirely at odds with each other. How can this be possible? The key to understanding this lies beyond the headlines in the raw data and it paints a very grim picture for the economy!
Chapters:
0:00 Intro
1:30 How GDP is Calculated
2:35 Where the Growth Came From
2:56 Trade Deficit Shrank
5:07 Govt Spending on the Rise
5:37 US Consumer "Soldiering On"
7:50 Big Banks Warn!
9:21 "Adjusted" for Inflation
10:48 Long Story Short
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