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2022-11-01 Home Front: Politix
With deep recession coming, Biden prepares by... blaming Republicans
[NYPOST] A serious recession next year is already baked in, but don’t worry: President Joe The Big Guy Biden
...46th president of the U.S. S I'm not working for you. Don't be such a horse's ass....
 is on it. That is, he’s getting set to . . . blame Republicans.

Of course, the real cause is his own disastrous policies: The nation already hit recession as traditionally defined with two quarters of negative growth in the first half of the year, and the third quarter only scored as positive thanks to a shrinking trade deficit driven by higher energy exports. Consumer spending actually slowed.

The Bloomberg Economics forecast finds a 100% chance of deep recession next year; some two-thirds of business economists in the National Association of Business Economics survey say the same. For more warnings, ask Jeff Bezos or Goldman Sachs CEO David Solomon.

So there was Biden last week, thundering that a GOP victory in the midterms will "crash the economy" and hike inflation, while bizarrely arguing Democrats "are fiscally responsible."

He brags that the federal deficit dropped by $1.4 trillion in the last fiscal year, skipping the facts that 1) the cause was simply the end of COVID emergency outlays and 2) it would’ve dropped twice as much without all the new spending he’s rammed through.

Meanwhile,
...back at the wreckage, Captain Poindexter wished he had thought to pack sun block...
 the inflation his spending spree triggered rampages on, with the Federal Reserve obliged to keep hiking interest rates to choke it off, further pushing the economy down.

Biden and his fellow Dems ignored months of warning signs, dismissing skyrocketing inflation as "transitory" (when they weren’t outright mocking average Americans’ worries) and carried on with their economic arson.

The political result: a huge swing in momentum to the GOP. And the polls show the voters know that the party in power is to blame for our economic misery.
Posted by Fred 2022-11-01 00:00|| || Front Page|| [11145 views ]  Top

#1 He needs to be charging scooters for folks at the DC Walmart.
Posted by Super Hose 2022-11-01 10:43||   2022-11-01 10:43|| Front Page Top

#2 ..or be a Walmart Greeter Sniffer
Posted by Big Brother Is Sniffing You  2022-11-01 11:38||   2022-11-01 11:38|| Front Page Top

#3 With the recent tightness in the Fed's policy (M2, the most commonly used measure of money, hasn't budged since last December), we should be seeing a recession.

However, the tightening doesn't begin to make a dent in the unprecedented $3 trillion the Fed threw into the economy in 2020. So we're in sort of uncharted waters. Normally the tightness of 2022 would cause a recession. But there is SO much money sloshing around that it is hard to tell if the Fed's tightening is having much of an effect on the larger economy so far.
Posted by Tom 2022-11-01 13:34||   2022-11-01 13:34|| Front Page Top

#4 The tightening is a factor in a lot of finance calculations. It will just show up in different ways this time.
Posted by M. Murcek 2022-11-01 13:59||   2022-11-01 13:59|| Front Page Top

#5 
Posted by badanov 2022-11-01 23:14||   2022-11-01 23:14|| Front Page Top

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