Posted on 09/10/2022 3:52:20 AM PDT by TigerClaws
So far this year, the US economy has managed to skirt a recession, despite what many experts predicted. But even while the labor market remains strong, there isn't much to celebrate in the foreseeable future. We could still very well find ourselves in a recession over the next 12 months, with limited economic growth and lower prospects for improvement in Americans' standard of living that could linger for the rest of the decade.
Consumer spending on services will start to slow
Currently, spending on consumer services (think hotels, passenger transportation and hair salons, for example) is growing rapidly and keeping the economy above water. That is not surprising, because consumer services, like travel and dining out at restaurants, are still recovering from the complete collapse during the early part of the pandemic. And because such services are more labor intensive, jobs continue to grow rapidly.
But this strong growth can't persist forever. As the fear of the pandemic subsides and households return to pre-pandemic spending patterns, the pace of recovery in consumer services will slow, and by 2023, job growth in this sector will no longer be unusually high. Since consumer spending on services makes up about 45% of the US economy, the slowdown in this segment could tip the economy into a recession, especially if the rest of the economy continues to contract.
(Excerpt) Read more at cnn.com ...
This is why they couldn't let Trump keep America winning. Hope the voters realize the hell they're in for if they keep voting for Demonrats.
True words
TRUTH!
The apologists keep saying we have “skirted” or “avoided” a recession, pointing to numbers that are meaningless when taken out of context. Truth is, we ARE in a recession, and it will keep spinning wore and worse as inflation continues to eat through the fiber of our commerce and industrial capability. The only “economic growth” would come from the steadily inflated numbers of dollars, even as each individual dollar continues to buy fewer and fewer goods and services.
Like the serpent consuming its own tail. there will come a point where that course of action becomes impossible to continue.
What seems to be the reality here is that this enemy (whoever it is), having no moral values as we know them, is capable of anything in its accumulation of power.
Even the Left's lowest ranking foot soldiers would have no pangs of conscience loading us onto boxcars headed for the gas chambers. If you doubt that, look into the faces and eyes of people screaming at conservatives like Ben Shapiro or Charlie Kirk.
These people are worse than zombies because at least zombies just wander around aimlessly, looking for fresh meat.
The whole thing is a lie and recirculated garbage. Remember 1% annual GDP during obama’s failed regime was branded “the new normal”??
Our green masters are past slowdown. Their mindset is now “post growth”.
From the WEF
https://www.weforum.org/agenda/2022/09/can-the-economy-grow-for-ever-teded/
It was the best of times. (Trump)
It was/is the worst of times. (Biden)
It will remain the worst of times, as long as democrats retain control, ‘with’ Biden as head of the snake. The lying democrats and lying democrat media, have to lie to the people and hope that the people are dense enough to believe their lies.
they always say this when a democrat is president, then a republican takes over and proves them wrong.
Should I believe CNN or my lying eyes?
The DOW has dropped $5,000 since the first of the year. CNN is still propaganda.
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