Everyone is talking, or not talking, about Recession, and what Recession is, or is not. Enjoy this review of things to come Thursday:
What Is a Recession? | Team Biden Will Decide the Definition After the Numbers Are Out Thursday | Matt Christiansen
They have redefined "woman" so redefining "recession" is a walk in the park. But think about this, considering they have chosen to climb out on a limb with this silly recession nonsense what do you think they will do to prevent the real facts about the economy being revealed so as not to saw off that branch they are standing on?
They reported -.9% GDP growth last quarter and -1.6% the quarter before. You can believe it is much worse than that. They are hanging on the job numbers to claim there is no recession but that ignores the unique situation we are in after locking down the country for a virus.
Considering the price of oil, the supply chain problems we have been experiencing for over a year, and the rise in interest rates how in the world could we ever avoid a recession? Dumping oil from the Strategic Oil Reserve has helped lower oil prices temporarily, but that reserve is not an infinite supply and once emptied it has to be refilled, a double whammy to the oil supply.
Oh, and while everyone is debating about the definition of recession, the national debt hit $30 trillion and is projected to hit 3 times the GDP in a few years.
We should start writing the letters of apology to our kids and grandkids because we have screwed everything up for them.