On June 29th, 2022, Terry Sawchuk joins AVL to discuss GDP Shrinking.
Is a Recession on the way or is a Recession already here? That is the big question the citizens, the folk, the Economist’s, and Americans in general, are all asking. Terry responded to this saying “I think we’re in a recession now, Steve, one fascinating way to look at this is that the Google search for the word Recession has hit the highest mark it’s ever had in the history of those search results.”
Gruber asked Terry “How do we calculate Inflation? The government gives us a number that is lower than what it would really be, because I’m told the actual inflation rate is like 14%. Does that square with your understanding?” Sawchuk then responded with: “Yeah, they did change the numbers and they get to pick and choose what goes into the basket of what gets measured. I don’t think anybody has any illusions about the fact that they’re paying well more than 10%, even in some cases, not, you just look at specific things. I mean, gas is up 100% from where it was when Trump was in office, you look at other forms of energy, it’s up considerably, the price of a used car. At one point, prices of used cars were higher than the prices of new cars, right? So depending on when you look at it, inflation could be as high as 50%. It just depends on what you’re buying. Across the board, it is absolutely higher than what they’re telling us.”
Click here to watch the entire interview.
Any information discussed in this article is for educational purposes only. It is not meant to be any kind of recommendation or financial advice. The information contained in this video is intended for informational purposes only. Any opinions are those of Terry Sawchuk and not necessarily those of JW Cole Financial, Inc. or JW Cole Advisors, Inc.
Securities offered through J.W. Cole Financial, Inc. (JWC) Member FINRA/SIPC. Advisory services offered through J.W. Cole Advisors, Inc. (JWCA). Sawchuk Wealth and JWC/JWCA are unaffiliated entities.