Posted on 09/17/2023 8:38:00 AM PDT by Kaiser8408a
Call Bidenomics a new name: The Biden Blitzkrieg Bop since the administration launched a blitzkrieg attack on America’s middle class and low wage workers through bad energy policies and soaring inflation.
Economists have practically sounded the all-clear on a looming recession, but plenty of signs are still flashing red.
Clearly, economists were wrong earlier this year when they forecast an economic contraction that has yet to manifest. Could they be wrong now?
To be sure, economic growth, the labor market and consumer spending have proven unexpectedly resilient in the face of rising interest rates and elevated inflation. But there are still plenty of signs a recession might still be on its way.
1. An “uncertain outlook” from leading indicators Many mainstay economic indicators measure the past. So-called leading indicators reflect what likely lies ahead.
The Conference Board’s U.S. Leading Economic Index for July marked its 16th consecutive drop and its longest losing streak since the run-up to the Great Recession in 2007 and 2008.
“The outlook remains highly uncertain,” said Justyna Zabinska-La Monica, senior manager of business cycle indicators, at The Conference Board.
“The leading index continues to suggest that economic activity is likely to decelerate and descend into mild contraction in the months ahead.”
The index is based on 10 components, ranging from stock prices and interest rates to unemployment claims and consumer expectations for business conditions.
2. Consumer confidence is just a hair above recessionary levels The Conference Board’s consumer confidence index came in at 80.2 in August, hovering just above 80, the level that often signals the U.S. economy is headed for a recession in the coming year.
It is also a leading indicator used to predict consumer spending, which drives more than two-thirds of U.S. economic activity.
The Biden Blitzkrieg Bop!
(Excerpt) Read more at confoundedinterest.net ...
Forget recession, more like depression.
Looming Recession? The Recession started when “The Swamp” stole the election of 2020.
And....
https://www.shadowstats.com/alternate_data/inflation-charts
Exactly. Only the truly stupid believe that this will end well for us (’this’ being unrestricted spending).
It is, however, their goal, and with that all bets are off if we truly cross the Rubicon.
I would love to see someone put a bunch of big “Build Back Better” signs around Lahaina. Because that’s really what the slogan means, and implies.
The rich and well connected are getting richer.
The Democratic Party is celebrating the good times!
“The rich and well connected are getting richer.
The Democratic Party is celebrating the good times!”
We should be officially in a recession. It is only government interference in the economy (the same thing that caused the inflation in the first place), that is keeping this castle of cards upright. I also suspect “funny” reporting numbers. Look at the constant revisions (one way only) to the employment numbers for an example.
At the moment, the standard of living is being slowly reduced. People complain but assume things will get better next month, or year, or soon. Meanwhile, they continue to tighten their belts. One notch at a time. When our economy crashes, it will crash hard. I suspect we will pass through a recession so quickly people will hardly notice.
For we will all be busy dealing with the depression that follows.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.