WELCOME TO THE BIDEN RECESSION

Written by on July 29, 2022


WELCOME TO THE BIDEN RECESSION

Shared By Peter Boykin – American Political Commentator / Citizen Journalist

WELCOME TO THE BIDEN RECESSION

Welcome to the Biden recession. No matter how loud the left tries to spin it, a recession is defined by two consecutive quarters of negative GDP growth – a milestone we unfortunately hit.

[Definition break: GDP is a broad measure of the value of the goods and services produced across the economy.]

The numbers: According to data from the Bureau of Economic Analysis, the U.S. saw negative GDP growth [-0.9%] in the second quarter of 2022, worse than the +0.3% economists predicted. This follows the first quarter’s contraction of -1.6%.

What’s driving the negative growth?

Inventories were down, real estate investment has slowed, private investments are down, and consumer spending is low due to inflation.

The politics: Up until one week ago, everyone agreed that a recession was two consecutive quarters of negative GDP.

So what changed?

Democrats don’t want the “BIDEN RECESSION” headlines in the press as we head into the midterm elections. It’s that simple. And because the media is the propaganda arm of the Democrat party, the immediate headlines [except Fox] didn’t declare it a recession:

Americans know the truth.

They can’t be spun into ignorance when the cost of living their lives goes up every day in Joe Biden’s America:

Consumer sentiment hit an all-time low in June.

Small business owners’ optimism hit an all-time low in June.

Americans’ saving rate hit an all-time low in May.

And of course, inflation hit 9.1% in June.

Big picture problem: Typically when you’re in a recession, the government increases spending and increases the money supply in order to kickstart economic activity.

We do not have that option because our country is simultaneously experiencing record-high inflation, and taking those actions would make inflation exponentially worse.

So while politicians fight over the word recession; We are in truly dangerous times economically, as Joe Biden has put us between a rock (recession) and a hard place (inflation).

[Source: CNBC, WSJ]

 

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