Come ON!….
Let’s stop Bull Shitting….
Anyone on the ball could see the US Recession beginning already…..
Prices going thru the roof….
Consumer’s beginning to slow spending…
Middle Class tax burden higher since GOP 2017 tax increase….
Higher interst rates….
Post pandemic NOT back to normal completely….
A key measure of economic output fell for the second straight quarter, raising fears that the United States could be entering a recession — or perhaps that one had begun.
Gross domestic product, adjusted for inflation, fell 0.2 percent in the second quarter, the equivalent of an 0.9 percent annual rate of decline, the Commerce Department said Thursday.
The 0.2 percent decline followed a contraction of 0.4 percent in the first three months of the year — meaning that by one common but unofficial definition, the U.S. economy has entered a recession a mere two years after it emerged from the last one.
Most economists still don’t think the economy meets the formal definition of a recession, which is based on a broader set of indicators including measures of income, spending and employment. The G.D.P. data itself will also be revised several times in the months ahead.
Still, the data released on Thursday left little doubt that the recovery is losing momentum amid high inflation and rising interest rates. Business investment and construction activity both fell in the second quarter after rising in the first. Consumer spending, adjusted for inflation, remained positive but slowed. After-tax income fell after adjusting for inflation….
Wishful thinking…….
White House Denies U.S. Is In Recessionn
“The White House responded to Thursday’s second quarter negative GDP growth with a full slate of events and a well coordinated message: Despite what everyone is saying, the U.S. economy is not in a recession,” CNBC reports.
David Leonhardt: “It is not whether the U.S. is in a recession. It’s whether the economy will soon worsen.”
Politicalwire