Thursday, February 9, 2023

Biden says, no recession this year or next year.

Annnnnnnnnnnnnnnnnnd.........mark! Timing starts to see how long Biden's words age very, very badly.

Breitbart: Biden: U.S. Will Not Have a Recession This Year or Next Year. 

President Joe Biden said Wednesday on “PBS NewsHour” that the United States would not have an economic recession this year or next year.
[.]
[JUDY] WOODRUFF: So when people at the Gallup Poll saying most Americans think next year the economy is going to be bad, do you think there’s going to be a recession?

BIDEN: No.

WOODRUFF: This year?

BIDEN: No. Or next year. From the moment I got elected, how many of the experts are saying within the next six months is going to be recession?

Well, we sure hope not, Cap'n Diaper. We already had 2Q's of negative growth last year:

PBS, July 29, 2022: U.S. just had 2nd quarter of negative growth.

al-Reuters, July 28, 2022: US Q2 GDP shows 2nd quarter of negative growth.

I don't think anyone can argue that Leni Riefenstahl's PBS and al-Reuters are two Right-Leaning publications. Both, and other news outlets, reported we had 2Q of negative growth last year. 

Two consecutive Q's of negative growth have been the past definition of recession. Until last year, when other reasons were added to what defines a recession, meaning we were in a recession even though we weren't. "...Reasons..."

We're likely going to have a recession this year and next year. Because last year...no one could have predicted it. They didn't see it coming.

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