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

Support the Channel on Patreon: https://www.patreon.com/NobodySpecialFinance
Join My Discord for More Discussion, Q&A, and News: https://discord.gg/njvf3DPPrF

Affiliate Links:

Use this link to get $10 in free Bitcoin with Swan: https://www.swanbitcoin.com/NobodySpecial/

The Ledger Nano X: My favorite Hardware Wallet for Cold Storage of Crypto Assets: https://shop.ledger.com/?r=23974ce6def9

Recommended reading (Amazon Affiliate links):
Rich Dad Poor Dad by Robert Kiyosaki: https://amzn.to/3rJvA7Y

Follow me on Twitter: https://twitter.com/JG_Nuke
Follow me on Gettr: https://gettr.com/user/nobody_special_
Follow me on Gab: https://gab.com/NobodySpecialFinance
Follow me on Reddit: https://www.reddit.com/user/JG-NUKE

#GDP #AmazonEarnings #MelonHead