This isn’t exactly news.
Everyone kind of already knew this was coming with $5 a gallon gas this summer. The economy sucks and has officially tipped into a recession because of this obsession of our elites with the war in Ukraine. Sinking gas prices are an indicator of a choking economy.
Unemployment and job openings numbers aren’t to be believed.
Agree, his press sec’y says there’s more jobs than ever, and that the economy is strong. Do they think we don’t see what’s going on? Only the rich boomers going on endless vacations think everything is fine.
The real GDP of CCP-led China is now much greater than the U.S.’s “service (usury) economy” fake GDP. Chinese people’s health is improving, longevity surpassing that of the U.S. population which is getting sicker, poorer, and even more atomized and diverse.
During a major economic crash, the bourgeoisie and elite capitalists depend on WAR to distract the host, prevent dissent and preserve the system. A surge of reactionary right populism such as “Christian” nationalism can be expected in the transition from consumerism to war economy austerity.
The fed pretty much came out and said that they wanted to create a recession to increase unemployment and get wages down
And there’s uncle joe-he’s a-movin mighty slow at the junction- petticoat junction!
A “recession” in the United States is officially defined thus: As many consecutive quarters of year-over-year negative economic growth as necessary such that the final single quarter of the chain of consecutive quarters ends after an election day in which Democrats defend either an executive level office and/or a majority in a legislative body.
No recession for Wall Street. Full sails ahead!
https://www.axios.com/2022/07/31/biden-modeling-reagan-reelection-strategy
>Biden confidant: “We are Reagan”