
Peter St Onge
Podcast Host and Writer at Freelance
Articles
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1 week ago |
floppingaces.net | Peter St Onge
It’s official: GDP is negative. And it is glorious. Last week the Bureau of Economic Analysis reported that GDP for the first 3 months of 2025 turned negative for the first time since 2022. The kicker is all the pain was caused by a 41% surge of imports front-running tariffs. Which GDP bizarrely counts as negative GDP. Drop those and actual GDP soared by a blistering 4 and a half percent. Which is Asia-level. It actually gets better. Because government spending dropped for the first time since 2022.
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1 week ago |
profstonge.com | Peter St Onge
It's official: GDP is negative. And it is glorious. Last week the Bureau of Economic Analysis reported that GDP for the first 3 months of 2025 turned negative for the first time since 2022. The kicker is all the pain was caused by a 41% surge of imports front-running tariffs. Which GDP bizarrely counts as negative GDP. Drop those and actual GDP soared by a blistering 4 and a half percent. Which is Asia-level. It actually gets better. Because government spending dropped for the first time since 2022.
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1 month ago |
profstonge.com | Peter St Onge
Will humans go extinct? In an interview last week Elon Musk was asked what keeps him up at night. His response was that crashing birth rates could destroy civilization. Or even wipe out humanity. Elon noted that in some countries births are one third replacement level. In Japan, for example, on average 4 grandparents yield a single grandchild. In Korea, 100 Koreans will become just 8 great-grandchildren. As in a country shrinks to a single city.
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1 month ago |
profstonge.com | Peter St Onge
Last week Treasury Secretary Scott Bessent reported that the top 10% of Americans account for half of consumption — a new record. This 10% is, of course, overwhelmingly Baby Boomers. Who've spent the past 50 years having their assets pumped by the Federal Reserve while voting for big government that knocks the first rungs out of the career ladder for the young.
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1 month ago |
profstonge.com | Peter St Onge
China is terrified that Donald Trump could turn it into a Japan-style zombie economy. According to the Wall Street Journal, China is "Right to worry.”The reason is Trump's aggressive tariffs on China -- with more to come on April 2nd -- are hitting when China's economy is already reeling from failed central planning. This includes trillions of overcapacity dumped into state favorites from green energy and EV's to semiconductors and commercial aircraft.
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