WELCOME |
![]() |
![]() comments, ephemera, speculation, etc. (protected political speech and personal opinion) 2022- 2022-07-27 b RECESSION OBSESSION II Peter Schiff and Laura
Ingraham: The White House Recession Denial
______________________The economic data indicate that the US economy is already in a recession. The [illegitimate] Biden administration wants you to think otherwise, and the White House has come up with an interesting way to deny the recession reality. Just change the definition of a recession. Peter Schiff appeared on the Ingraham Angle with Lauren Ingraham to talk about this White House spin. The common definition of a recession is two consecutive quarters of negative GDP growth. In the first quarter of 2022, GDP came in at -1.6 percent. The Atlanta Fed projects another -1.6% decline in Q2. That would mean we’re in a recession now, and we have been all year. But White House spokespeople and Treasury Secretary Janet Yellen are quick to remind us that this is not the “technical” definition of a recession. Technicalities notwithstanding, Ingraham points out that the last 10 times the economy experienced two consecutive quarters of negative GDP growth were technically defined as recessions. She called the Biden administration’s wordplay “a perfect distillation of modern leftism.”
Peter pointed out that the government already changed the definition of inflation from “an expansion of the money supply” to “prices going up.”
During her interview on Meet the Press, Yellen said a recession wasn’t two quarters of negative GDP. She said it was a broad-based economic slowdown. Peter said that’s exactly what we’ve got.
Ingraham noted that the White House and others denying a recession hang their hats on the tight labor market. But even that is looking shaky. As Peter said, we’ve seen three straight weeks of increasing first-time jobless claims, and they’re at the highest level since October last year.
Peter also pointed out that employment is a lagging indicator.
As Ingraham said, next the White House will have to redefine the word layoffs. (read more) Permission is hereby granted to any and all to copy and paste any entry on this page and convey it electronically along with its URL, ______________________ |
...
News and facts for
those sick and tired of the National Propaganda Radio
version of reality.
|
|||||
|
If
you let them redefine words, they will control
language. If you let them control language, they will control thoughts. If you let them control thoughts, they will control you. They will own you. |
© 2020 - 2021 - thenotimes.com - All Rights Reserved |