Instead of solving the pressing problems of everyday Americans, the president’s staff plays word games with his staff
Anyone with a pulse will tell you that the times are hard and all Americans, including those who have not been millionaires, are struggling to cope with the burden of the economy.
The current level of inflation is at its highest point in 40 years, with economic conditions worsening than they were when Jimmy Carter ran the show. Yet, Joe Biden, his White House team, insists that all is well, just like the meme dog at the house burning down.
The Biden administration created a propaganda campaign that aims to make you believe everything is in order, rather than addressing the entire problem of an economy in serious straits. Just don’t trust your lying eyes. You can also blame Russia for calling it “the”. “Putin Price Hike” – yeah, that works.
It’s no secret that there’s a recession going on, and it really doesn’t matter what you call it. No matter what Biden’s administration calls it, the fact that there is an economy recession is not important. It is simply the fact that the people who are experiencing the worst of the economic crisis are finding it difficult to pay the bills. There are also no significant efforts to combat inflation. Inflation is impacting everything from gasoline prices to groceries.
Gas prices rising Don’t sweat it – just buy an electric vehicle, as if you can afford it. That’s what Transportation Secretary Pete Buttigieg suggests, anyway. And to think he’s even more popular among some Democrats than Biden.
The practice of fast food has been adopted by many restaurants. “shrinkflation”You will continue to be charged the same amount, but the food served on your tray may be reduced. On the plus side, this might fix America’s growing obesity problem.
With the latest data out, the US economy now meets the de facto definition of a ‘recession,’ which is two consecutive quarters of negative growth. This is the definition Reuters used to describe Hong Kong’s economy in 2019 and Japan’s in 2020. Their economies experienced two consecutive quarters of declining in the last quarter. It was obvious that they were experiencing a recession.
And yet, due to Biden’s apparent allergy to any news that makes his administration look inept and his unrealistic green transition plan appear half-baked – not to mention the fact that the Democrats are in serious danger of losing control of both the House and Senate in the upcoming 2022 November midterms – his team has opted to clamp its eyes and ears.
Now that the reports are out that the country’s GDP shrunk by 0.9% in the second quarter of this year, this development could serve as another nail in the Democrats’ proverbial coffin in the upcoming midterms.
Conspiracy theorists might suggest that the economic downturn is, in fact, part of the plan to bankrupt the middle class so that the World Economic Forum’s promise of “you will own nothing, and you’ll be happy” by 2030 comes to pass, but there may be a simpler explanation – Biden and his team just aren’t cut out to manage the economy, and they’re struggling to keep their dream of a zero-carbon society alive while everything else goes to hell in a handbasket.
After all, it’ll be hard to make any of those plans come to fruition if they’re all removed from office by 2024.
Regardless of what’s really happening, average working-class and middle-class Americans aren’t going to care about words on a sheet of paper confirming what they’ve known all along: it’s getting a lot harder to fill the grocery cart. This report confirms for economists only what all Americans struggling to pay their credit card bills have known since Trump’s departure in 2021.
“Although some believe two quarters with falling real GDP in consecutive quarters is a sign of recession, it’s not an official definition of what a recession looks like or how economists measure the state the business cycle.” stated the White House last week. “Instead, both official determinations of recessions and economists’ assessment of economic activity are based on a holistic look at the data — including the labor market, consumer and business spending, industrial production, and incomes.”
Treasury Secretary Janet Yellen echoed the party line by insisting on cable news that the country isn’t in a ‘recession,’ defining this time of hurt as a “period of transition in which growth is slowing.”
Much like the shifting definition of ‘woman,’ the Biden administration is more than happy to redefine terms like ‘recession’ when it suits its agenda.
“So there is a slowdown and businesses can see that and that’s appropriate, given that people now have jobs and we have a strong labor market,” Yellen insisted.
If the labor market is so strong, it’s only because everyone’s struggling to stave off homelessness. In a more ideal economic environment, any working man and woman would be in the job market to pursue upward mobility and afford nicer things – not moonlighting as Uber drivers just to make ends meet.
Biden’s team won a victory lap as gas prices fell from their high of $5.00 to $4.61. It’s worth noting that prices were only around $2.38 at the start of Biden’s presidency. It’s all relative.
Buttigieg went so far as to say that gas’s high price was beneficial for the environment. “the more pain we are all experiencing from the high price of gas, the more benefit there is for those who can access electric vehicles.” I’m sure those struggling to pay their bills will be overjoyed to learn that their financial troubles will be over once they can afford a Tesla.
The issue of definitions is being addressed by this article. “recession,”Biden abrogates his responsibility towards the American taxpayer
In the next midterms, Democrats will likely pay a heavy price at the polls. As Biden’s approval ratings on job performance, economic performance, and inflation continue to sink, his cohorts in Congress are going to be the ones to suffer at the polls.
Indeed, around 75% of American voters – an increase from 43% last summer – identify inflation and the cost of living as the most important economic concern for their families. Biden and his team of hack economists can redefine ‘recession’ however they like, but it’s hard to argue against the figures.
Statements, opinions and views expressed in this column do not reflect those of RT.