The White House can try and redefine what a recession is all they want, but what all know what a recession is.
For two consecutive quarters, the United States has seen a shrinking of the economy. The Biden regime has been tirelessly trying to convince everyone in America that we were not going to go into any kind of recession. Those of us who follow the stock market and really just pay attention to the way that the country is being run right now have known that this was going to be coming for, well, basically all year.
Now the numbers are finally in from the US bureau of economic analysis and with their first estimate that was released our economy shrank by an annualized rate of 0.9%. I think that the Biden regime were expecting us to have growth, but that’s just shows you how much they really know about the economy.
“The decrease in real GDP reflected decreases in private inventory investment, residential fixed investment, federal government spending, state and local government spending, and nonresidential fixed investment that were partly offset by increases in exports and personal consumption expenditures (PCE),” the BEA explained. “Imports, which are a subtraction in the calculation of GDP, increased.”
But seriously, how many times have we heard Joe Biden say that we aren’t going into a recession?
Now that take a note longer be denied that we are in a recession people are already trying to explain this one away and claim that it’s only going to be a “white-collar recession” as though people in the middle class and lower class aren’t going to be affected as much.
This is absolutely absurd. Just because they may not be losing their jobs this go around, which has yet to be seen, it could still happen, doesn’t mean that they are going to be exempt from the pain of the recession.
Here’s my prediction. I think for the next four to six months not much is going to change outside of what we see right now. Rates are going to go up as they have been but maybe they’ll slow down a little bit. And then they’re going to start talking about cutting rates and stimulus just like they always do. I honestly don’t think that we’re going to get a stimulus though even though they’re going to talk about it. Instead, the Democrats will leverage that as a reason to vote them out in 2024 since they’re going to hold a majority after the midterms.