Many of the readers on SDA saw this coming months ago, but the leftwing corporate media is now reluctantly picking up on it. The main difference, of course, is that most of us here do not need to derive our understanding of economics from computer models.
The US economy falling into recession within the next 12 months is a virtual certainty, according to the latest Bloomberg Economics forecast model released on Monday.
Yet FOX News insists that 46% of Americans support the Inflator in Chief … Fffff Joe Bidinh!!
https://www.newsweek.com/fox-news-poll-gives-joe-biden-highest-approval-rating-nine-months-1752339
Yeah … and my schlong is 46% larger than Ye’s
A coming recession?? The first two quarters of the year in the US had negative growth. They are already in a recession. Mind you child predator Biden changed the definition.
The CBs will over correct, as usual. Interest rate increases take months to yield the results, just ask somebody with a mortgage renewal 2 years down the road, where they face an increases from 2%, to 5 or 6%.
The short term effects occur on Helocs, and new loans.
CBs will kill an economy, when they just need to be patient and wait.
Otherwise, welcome to the 1980s, a disastrous decade for the west, a 6 year plus recession thanks to extraordinary interest rates, and tonedeaf CBs.
But this round of inflation is caused by government spending, not consumer spending or an “overheated” market. Raising interest rates doesn’t impact that, just destroys the economy further; only change of government policy can fix this inflation. Imagine the folly of the US government fighting inflation with their Anti-inflation spending act. Farm animal stupid. Unless it’s deliberate of course.
Everything in the economy is tied to a unit of energy.
Oil and natgas being big contributors to those units.
Diesel is at $ 2.43/litre CDN in the Toronto GTA vs. $ 1.60 for gasoline.
An over $ .80/litre difference.
Independent truckers are hurting big time, the nationals have locked in long term fuel contracts but someone has to pay those shipping costs.
Those costs are paid by you and me, the consumer.
Its only going to get worse as winter rolls in and the prices ramp up .
Inflation will go higher.
I’m not spending on ANYTHING beyond subsistence needs. Why? Because I’m saving to pay my $600.00 monthly PG&E bill this winter … because of the outrageous rate increases for Nat. Gas. And that’s AFTER I’ve SUPER-insulated my home …
100%. The current brand of Leftwing Batsht crazy Governments in the US and Canaderp are too stupid to realize or take responsibility for this.
It’s not hard to realize that priming the pump with an extra $600 Billion into the economy over a couple years, has an effect. Thanks BlackFaceHitler, Garden Gnome Nazi, and POTUS Pampers…..
The US Economy is already in a recession. This is ass-covering for Democrats, so they can blame it on the midterm slaughter heading their way.
A midterm slaughter requires a non corrupt electoral system. I am not convinced this is not fixed.
In truth, those in the corporate media knew that inflation was crippling the economy. How could they not. As a creature of habit, I usually purchase the same items at the grocery store each visit (with some minor fluctuations). When I see a flat out 35% increase in costs that I was used to…I knew inflation was nasty. Journalists buy groceries too. They had to experience the same dismay personally.
Then, adding that to job creation numbers, consumer confidence diving, retail sales diving…..and the GDP being flatter than Carmen Diaz.
Only a dishonest retard would say that we weren’t in a recession. …or a member of the Biden administration (to which I include the corporate media).
Falling?
Is this FJB’s idea of a ecession being one year of GDP contraction?
I’ll wait for input on this from our resident financial gooroo, alla ASS
Recession? If this isn’t another Great Depression it will be a miracle.
Luckily they already have WWIII tee’d up…our grandchildren will be taught that the Second Great Depression was ended by the Third World War.
Good thing Alberta has Canada to help us through this upcoming rough patch.
I trust that is a joke. Canada will be begging for Alberta (and Saskatchewan) food and energy. We should shut it down now, just to give them a taste.
Months ago??
Yeah Ok maybe 30 months ago…
I knew in March of 2020 that running the global economy off a cliff like they did was going to hurt. Badly.
Economies are not lights. You cannot simply switch them off and switch them back on again a couple of weeks or a month later, and NOBODY who was given decision-making authority seemed to understand that, certainly not Bonnie Bullshit or Two-bag Tam. And if you tried to point it out their psychophants would screech “You’re putting money ahead of people’s lives!” Ummm…no, I tried to explain, the two things are inextricably linked and economic hard times hurt and often kill a great many people. But nobody wanted to listen, so now they get to learn the hard way.
So is Bloomberb claiming that their definition of a recession is more than5 quarters of non-growth in order to provide the Biden Junta with an in kind contribution to help the democrats election chances?