Status of the current economic and political train wreck

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    • #6303
      AvatarMick
      Participant

      White House insists economy is strong:

      White House insists economy is strong as allies grow uneasy about Fed (msn.com)

      Yellen says we’re not in a recession despite two consecutive quarters of shrinking GDP (I want whatever she’s ingesting):

      Yellen says the economy is not in a recession despite GDP slump (cnbc.com)

      Inflation highest since 1982:

      Inflation figure that the Fed follows closely hits highest level since January 1982 (cnbc.com)

      Oh, please. Pleeeeeeeease. Please AOC, please run for President!

      The Memo: No, really — What if Alexandria Ocasio-Cortez runs for president? | The Hill

    • #6304
      LegendLegend
      Keymaster

      I don’t understand why the Dems and Biden have to resort to mendacity. What they should be saying is “recession? Possibly, but remember we need modest cooling of the economy to do the right thing by the working class and kill this inflation…if the republicans want to make hay about a gdp recession while job growth continues, we will take that all day and just point to their rank cynicism in putting single metrics ahead of the working class.”

      it isn’t hard. Instead they literally try to redefine generally understood terms.

      I have no opinion on AOC for president any more than I do on MTG for president. They both serve their political purposes.

      ____________________________________________________________
      Sic transit gloria mundi (so shut up and get back to work)

    • #6305
      AvatarNeodymium60
      Participant

      I always liked Harry Truman’s definition.

      “A recession is when your neighbor loses his job.  It’s a depression when you lose yours.   Reagan added that it’s a recovery when Jimmy Carter loses his job.”

      I don’t know if there is a correct definition of a recession.   I do know that we have a malignant financial and political system in place and the people making stupid decisions about our money never pay a price.

      I do watch The Big Short once in a while to remind myself of how corrupt we have become.  “For every 1%. that unemployment goes up 40,000 people die”

    • #6307
      rjnwmillrjnwmill
      Participant

      I don’t understand why the Dems and Biden have to resort to mendacity.”

      Legend, who wants to leave the teat?  Certainly not the donor class.  Another 3/4 of a trillion in spending?

      We can’t expect politicians to change past practice, pander, pander then pander. Democrats and republicans need money for the midterms so they need to head out of DC for the august recess with some spread it around money in their pockets.  The middle class and Bowser’s illegals can deal with the fall out from piss poor policy starting in December.

      Here's a toast with one last pour, may it last forever and a minute more;
      Good fortune seems to you have sung, to live and love way past long

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