Posted on 07/29/2022 5:47:47 AM PDT by MtnClimber
For the first time in a decade, our economy is in recession. It’s not official yet – the group that dates recessions doesn’t act until after the fact – but there’s little doubt that we’re in the midst of a downturn.”
That was economist Jared Bernstein back in December 2001. He went on: “The downturn is already taking a toll on those who traditionally bear the brunt of recessions, blue-collar workers in manufacturing, minorities, and other less-advantaged workers.”
That year saw only two non-consecutive quarters of GDP decline. The unemployment rate never got over 5.7%. And when the year was over, GDP had climbed 1%. But it’s still listed on the recession roster.
Today Bernstein, who sits on President Joe Biden’s Council of Economic Advisers, is trying to argue that, despite two consecutive quarters of a shrinking economy, we aren’t in a recession right now.
SNIP
The media, not surprisingly, have dutifully picked up team Biden’s talking points, with stories everywhere saying that six months of economic decline are merely “flashing warning signs,” “raising alarms,” “inviting talk,” and “sparking debate” about a recession. CBS News says the “economy is creaking, but isn’t in a recession.”
This is gaslighting at its best.
(Excerpt) Read more at issuesinsights.com ...
Brought to you by democRATs, most of whom have never had a real job.
Yes and Hunter is not corrupt and compromised!
And the resident Pedo did not participate with Hunter to get his 10%!
No, it won’t end well just as them asserting over and over and over that inflation was transitory.
Can’t deny actual facts tho:
“Question: Out of the past 10 times the U.S. economy has experienced two consecutive quarters of negative economic growth, how many times was a recession officially declared?
Answer: 10.”
Tweet by Michael R. Strain.
https://twitter.com/MichaelRStrain/status/1551614956256256000
Is this Putin’s fault too?
I suspect that the recession is not universal and is concentrated in Blue cities adequately to drag the whole nation down.
I believe business is terrible in LA, San Francisco, Portland, Seattle, Chicago, Philadelphia, Boston, and New York
The massive tent city encampments and deserted malls and shops are the visible evidence.
I still don’t know why we went to proxy war against Putin. Did he not give Pedo Joe his 10%?-)
Now Trump gets to campaigN and say “under biden’s terrible leadership, and it really was terrible, the worst ever many say, the economy got so bad that his handlers had to write a speech for him in which the left changed the meaning of the word “recession” because he couldn’t defend his terrible policies, and they really were terrible, much worse that the ones thst destroyed the lovely and beautiful Venezuela, which was doing so well before socilists/communists took over. bidens policies are so bad that they have to deny its bad despite clear evidence that it is bad. I guess the left think that Americans are stupid or something”
Vaccine, gay, ....... recession.
If you are a leftist (AKA commie trash) “What is in a word, really?”
They often use the word ‘criminal” four times in the first paragraph of stories about Trump.
FOR WHOM IS IT NOT GOING TO END WELL? HMM??? I AM SICK AND TIRED OF PEOPLE TRYING TO SAY THIS ADMINISTRATION IS GOING TO FACE CONSEQUENCES WHEN NO ONE HAS THE BACKBONE TO DO ANYTHING ABOUT THEM. QUIT POSTING THIS CRAP UNLESS YOU HAVE A PLAN OF ACTION.
President Shultz.
I see nuttinga, nutting!
Ohhh...ice cream...
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