Posted on 11/03/2022 9:49:09 AM PDT by ChicagoConservative27
White House chief of staff Ron Klain on Thursday said that the U.S. is not in a recession and argued that the economy is strong following the Federal Reserve’s decision to again hike interest rates.
“We are not in a recession. I want to be really, really clear on that,” Klain told MSNBC when asked what the White House is doing to prepare for a possible recession.
He noted that the U.S. is seeing a 50-year low on unemployment overall and an all-time low on Hispanic unemployment, and that more jobs have been created under the two years of President Biden’s administration “than any administration in history.”
“The economy is growing, it is strong, it is creating jobs,” he said.
He also said the stock market is strong and compared it to the stock market under former President Trump.
(Excerpt) Read more at thehill.com ...
Another Harvard trained lawyer. With a few exceptions the world would be much, much better if these people had no hands in power.
Oh yea, wait until we start running short of Desiel Fuel by the end of this month and the economy starts shutting down.
I think most consumers will be calling Klain a liar. Maybe he doesn’t grocery shop...who knows?
For three generations we have had the simple definition of recession as two consecutive quarters of a decline in the Gross Domestic Product measurement for the nation.
We have met that definition long ago and the only problem is a LYING LEFTIST MEDIA that lets the Biden administration redefine and equivocate.
The Democrats are using a simple yet effective algorithm.
Let n = the current number of consecutive months of bad economic news
Then n+1 = the number of consecutive months needed before there a recession
After the recession takes an expected turn for the worse in 2023 the GOP had better prepare to be blamed.
True. It is an odd recession. In the state I live in unemployment has been steady at about 3.5% for months. It remains difficult to hire people in the service sector and retail sales. No one can explain where so many workers have disappeared to.
He sure talks like Brandon...
Yep, Klain is one of Brandon’s Puppet Masters.
That’s OK, Ron. You are entitled to your own opinion. It’s still a free country - despite your party’s efforts to change that.
... and we are free to decide on the credibility of your opinion ... or lack thereof.
Klain was also Biden’s handler when Joe was VP under Obama.
Another puppet.
“...and a member of the external advisory boards of the World Economic Forum’s Global Health Security project and the Ending Pandemics Project”
https://docs.house.gov/meetings/FA/FA05/20200205/110450/HHRG-116-FA05-Bio-KlainR-20200205.pdf
Recession is a measurable event, not a feeling. 2 quarters of negative GDP growth which we have.
Employment is a lagging indicator in a recession
You’re perfectly clear, Ron, we can hear you great. It’s just that you’re full of crap.
LYING S.O.B!
Recession has an actual definition BEYOND the whims of Ron Klain, The Hill, any legitimate news organization and Republican or democratic party politicians.
Any “Klaim” otherwise is pure propaganda.
Don’t you just “love” how the DNCMedia lays down and shows the democrats their bellies?
Now imagine if Mark Meadows had said this under Trump, with the same numbers the economy has now?
It surely is here. This is no rich state and it is hard to find people to take low end jobs even in the really poor parts of the state. My cousin, who is chronically poor and under employed now reports he can work 40-50 hours every week installing dry wall, and he is really grateful to do it as he is very strong and not very bright.
when did Bagdad bob change his name?
What indication do you see of a recession at a grocery store?You mean besides half empty shelves?
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