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9% inflation and -1% growth. NOT ideal economic conditions.
Using the historical formula for inflation, we're really at 17%, not 9%...they watered down the formula in 1980, & again in 1983, to make inflation appear to be lower. Now, they're changing the definition of "recession"...what losers...failed Ivy League Lawyers.
A metric that is not being discussed much by the Uber Left's media, is America's shrinking workforce...3,000,000 Americans have permanently left the workforce over the past few years, & that is why employment appears to be just swell; when it's not.
Some will blame that on covid, but Biden promised he had a superior plan to deal w/ covid....remember?
As Barack Obama said: "Don't underestimate Joe's ability to #$%& thing up"
Not that Joe's actually doing anything, except trying to read off the teleprompter.
Biden is now the worst President in the 21st century, according to ABC/Ipsos poll done back in June:
When you think about how amazing everything was when Trump was in charge and how the future looked bright compared to where we are now with most being worried what tomorrow will bring.. never mind that we have 2 more years of this Flea Circus.... How far we have fallen and how much lower can we go? Then again it was Obama that told us he wanted to Fundamentally change America so this just might be all part of the Master Scheme by the Left?
Actually, it's not official at all. We aren't in a recession yet, but than I guess that would make for a less sexy thread title. Just some more CD drama.
Location: East Texas, with the Clan of the Cave Bear
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Quote:
Originally Posted by Uconn97
Actually, it's not official at all. We aren't in a recession yet, but than I guess that would make for a less sexy thread title. Just some more CD drama.
Hmmmmph !
If it walks like a duck, quacks like a duck, and looks like a duck then you're calling it a non-sexy pony?
OK!
There is no arguing that the stated goal of this administration is to crush the fossil fuel industries (and thus crush average joe). The world economy is based on fossil fuels which can be used safely for the next 400 years yet it is now time to create (according to this administration) an energy crisis and thus an economic crisis. Putin is evil but make no mistake he is not the one causing this nor the most evil in this economic scenario.
What historic recovery? A sham recovery fueled by endless stimulus and pumped up asset prices. This was always going to happen. Everyone here by now knows I'm critical of MMT and the free stuff mentality of modern society. QE is welfare for the rich.
Keep raising rates, and let's get the feds balance sheet to pre covid levels.
That said, they need to stop purposely creating supply chain problems by messing with the oil and natural gas industries and pushing farmers to not farm.
Aww, come on now…. It’s pretty obvious that we are going into a serious recession. Just because the White House says we aren’t, doesn’t make it so. This is the same White House that says men can get pregnant. They don’t have a lot of common sense up there…
They're failed Ivy League Lawyers who never had a real job. They're economic morons. If anyone gets elected that's not from that club, they attack 'em like an angry swarm of bees.
If we keep voting for losers like this, gov't will continue to grow. They already control 50% (DC controls 39%, State & Locals 11%) of our economy. Need proof? Here it is:
*chart is 4 years old, so it doesn't include $2.59T in covid stimulus spending...isn't it odd that this chart hasn't been updated?
Big Gov't is the root cause of: inflation, recessions, bubbles, anemic growth, stagnant wages, wage gaps...all of it. I've explained howso repeatedy here in my posts.
Only 2 DC politicians have a proven track records of consistently fighting Big Gov't growth...Rand Paul & Tom Massie....2 out of 535 in Congress. The next President should be one of these 2, or an outsider that is not currently part of the DC swamp, & has a proven track record of economic achievement...preferably in the private sector. End rant.
We've been in recession since Bidet took office...
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