Major Soros-Funded Outlet Spun Recession Definition 3 Days Before White House

NewsBusters ^ | 7/26/2022 | Joseph Vazquez

[JV3MRC]

The White House attempted to gaslight Americans by casting confusion over the meaning of a recession. But did it take its cues from a major publication funded by liberal billionaire George Soros?

The White House Council of Economic Advisers (CEA) released propaganda July 21: “It is unlikely that the decline in GDP in the first quarter of this year—even if followed by another GDP decline in the second quarter—indicates a recession.”

Three days earlier, major liberal global publication Project Syndicate released a column by Jeffrey Frankel, a Harvard economist and research associate of the National Bureau of Economic Research, which bloviated the same talking points: “[E]ven if the [Bureau of Economic Analysis] estimate is negative, however, it does not necessarily mean that the US has entered a recession.”

Frankel further gaslighted that “a US recession is not defined as two consecutive quarters of negative growth.” But a publication from Frankel’s own institution – the Harvard Business Review – even noted in a 2019 research article that recessions are “defined as two consecutive quarters of negative economic growth.”

Frankel even went so far as to suggest that “contrary to popular belief, first-quarter growth was not necessarily negative,” even though first-quarter GDP growth contracted 1.6 percent. The BEA is set to release second-quarter GDP numbers July 28.

Soros’ Open Society Foundations funneled at least $1,532,105 into the spin-doctor Project Syndicate just between 2018 and 2020 alone. Project Syndicate boasts about its so-called “unparalleled” global reach. It notes that it is currently active in 156 countries, works with 508 media outlets and has had its commentaries appear in 66 languages. In 2021, Project Syndicate distributed 1,385 columns and was published a total “of 20,393 times around the world.”

[aimhigh]

Now we know who is pulling Brandon’s puppet strings.

[Jeff Chandler]

Most Americans will dutifully regurgitate the new definition.

"People Are Idiots" -TC

[CatOwner]

Most Americans will dutifully regurgitate the new definition.

That and pretty much anything else spewed by the MSM. Sadly. those who have withdrawn from following politics are more inclined to pick up talking points from the MSM than anywhere else. This includes "front pages" to their favorite "non-political" sites like Yahoo, Bing, etc.

The fact that a majority on FR don't see this is equally sad.

[Michael.SF.]

Biden has a long history of plagiarism. Maybe it too is contagious?

[MarvinStinson]

Jeffrey Frankel, Harvard economist

Research Interests

International finance; monetary policy; regional blocs; international environmental issues

Related Publications

“Covid-19 and the Climate Crisis are Part of the Same Battle,” The Guardian, Jeffrey Frankel, 2020.

“The best way to help the climate is to increase the price of CO2 emissions,” The Guardian, Jeffrey Frankel, 2020.

"A Fair, Efficient and Feasible Climate Agreement," Project Syndicate, Jeffrey Frankel, 2015.

"Now is the Right Time to Reform Oil Pricing," The Guardian, Jeffrey Frankel, 2015.

pre-Lima scorecard for evaluating which countries are doing their fair share in pledged carbon cuts,” VoxEU, Jeffrey Frankel, 2014.

"Protectionist clouds darken sunny forecast for solar power," VoxEU, Jeffrey Frankel, 2013.

A Pre-Lima Scorecard for Evaluating Which Countries Are Doing their Fair Share in Pledged Carbon Cuts," with Valentina Bosetti, Jeffrey Frankel, 2014. Harvard Project on Climate Agreements Policy Brief.

“Sustainable Cooperation in Global Climate Policy: Specific Formulas and Emission Targets,” with Valentina Bosetti; in Climate Change Economics, 2014, vol.5, no.3, Jeffrey Frankel, August.

[jdsteel]

Biden administration: The second quarter identifies as positive.

[Secret Agent Man]

The Emperor has no clothes.

Most of the Emperor’s staff don’t, either.