Over a majority of folks in the country disagree with President Joe (Ol' Joe) Biden’s belief that the country is not in a recession. Based on a CNN poll conducted by SSRS
between June 13 to July 13, 64% of folks believe the country is already in a recession compared to the 35% who are on the side of ol’ Joe in saying that the country is not in a recession.
The majority of the folks who say the country is in a recession are living with the day-to-day realities of high prices everywhere. Bread cost $3.99 without tax. Gas is still above $4 in many parts of the country. It’s more expensive to rent than it is to own a home. Wages aren’t moving, but debt is moving on up.
Biden and those 35 percenters, however, think everything is as cool as an ice sickle. “We’re not going into a recession, in my view. My hope is we go from this rapid growth to steady growth. We’ll see some coming down but I don’t think, God willing, we’re going to see a recession,”
is what ol' Joe said.
You see that, there, folks?! The reasoning ol’ Joe is giving there. “My Hope is we go from this rapid growth to steady growth,” is him saying that the country is doing so good that even the bad is good because it will regulate the good that the country is doing.
Now, that there is like somebody throwing shit in the chilli pot in order for the chilli to hit the spot. It makes no sense, whatsonever. Of course, Biden, the 35 percenters, and all of those “brainy” economic folks will tell y’all that it’s not about how much you have to pay at the grocery store or the gas pump but whether folks have stopped buying stuff over a long period of time.
Specifically, the National Bureau of Economic Research (NBER)
defines a recession as “a significant decline in economic activity that is spread across the economy and that lasts more than a few months.” And the low unemployment rate of 3.6% and the fact that folks with a $300,000 a year job or greater are still spending money at the grocery store, gas station, the mall, and on Tinder dates are all signs the economy is not in a recession. Here’s what
CNN's "The Situation Room With Wolf Blizter" folks showed ol’ Joe and the
“brainy” economic folks saying:
"The unemployment rate is still one of the lowest we had in the
history. It’s in the 3.6 area. We still find ourselves with people
investing," is what ol' Joe said.
"Certainly that in terms of the technical definition, it’s not a
recession," is what Director National Economic
"What a recession really means is a broad base contraction in the
economy. And even if that number is negative, we’re not in a
recession now," said Secretary of Treasury
The problem with these folks’ reasoning is that they aren’t good at calling a recession a recession whenever the recession is going on. Heck, even the “brainy” folks over at the NBER folks
admit their expert brains aren’t good at identifying the “exact” moment the country enters a recession.
While answering a question about when the 2020 recession begin, the NBER folks
responded, “The NBER chronology does not identify the precise moment that the economy entered a recession or expansion.”
So, if the NBER is unable to use all of their skills and knowledge to identify the exact moment, or better yet, predict the exact moment, a recession is going to occur and Treasury Secretary Yellen is saying that the economy going down is not necessarily a sign that a recession is here, then who do the American people suppose to believe; themselves or the experts?!
That right there, what the “experts” are trying to tell the American people, is no different than a doctor fixing his or her lips to tell a patient that his or her vomiting, fever, chills, and headaches are not signs of him or her being sick.
Just like a person wouldn’t trust that doctor who can’t see the signs of sickness that a five year old can see just by looking at you, the American people aren’t going to trust the “experts” to tell them they’re in what they’ve been in for almost a year now, a recession.
Plus, it doesn’t help ol’ Joe and his “brainy” crew's case, there,
about when a recession begins that they brushed off the American people’s concerns about an inflation.
Y’all remember when, last year, ol’ Joe said this, “By the way, talk of inflation the overwhelming consensus is that it’s gonna pop up a little bit and then go back down.” Mm-hmm, that clip was
also played yesterday on CNN’s “The Situation Room With Wolf Blitzer.” Mm-hmm.
Folks, the whole point is to believe the folks who say they are going through because they are the ones who are going through.
Therefore, whenever 64% of Americans say the country is in a recession, then the country is in a recession.