The Bureau of Economic Analysis (BEA) is scheduled to deliver their calculation for the second quarter (Apr, May, June) Gross Domestic Product (GDP) on July 28, next week. The calculation is essentially the total value of all goods and services generated within the U.S. economy, minus the value of exports received.
CTH has predicted the people within the BEA research group [SEE HERE], ie those who make the determinations of GDP, will circle the statistical wagons and generate something akin to a positive 0.5% GDP figure for Q2.
The reason is simple… As with all other highly political institutions in U.S. government, the BEA is driven by political ideology.
With the Biden administration’s Green New Deal energy policy driving the U.S. economy into the ground; and with the BEA statisticians worshipping at the same governmental altar as all other climate change ideologues; they will do everything in their power to defend what the people behind Joe Biden are doing.
[For the greater good and all things that are associated with that line of elitist thinking.]
The BEA data team will first play with the statistics by underestimating the rate of inflation in their value calculations. If that effort doesn’t yield the desired result, the BEA will likely move to avoid calculating import data from the West coast (Port of LA, Port of Long Beach, and/or Port of Oakland) for the month of June. The current labor union and trucker issues within the ports will help create the noise to justify any interim data that is false. [Whoops, we’ll catch it in the updates, etc]
That’s just how this BEA crew rolls. If they can save the planet by fudging the statistics, well, they will have done their part. This approach, the expression of ‘their truth‘, is just an outcome of this great new era of pretending in our modern ideological banana republic. Hey, Wall Street is built upon a foundation of lies, insider trades on proprietary information and manipulation of values, so why shouldn’t everything else – including govt economic data? Fair’s fair, right?
Despite my dripping sarcastic snark, I’m not joking. This is the reality. I know them. I taught some of the people who taught them.
That said, there is a possibility, given the sheer scale of negative economic data, that our economy is contracting so deep and so fast the BEA statisticians will not be able to compensate (lie) to hide the economic reality. The BEA may indeed be forced to admit the U.S. economy is shrinking again in the second quarter as it was in the first.
Technically that result would mean we are officially in an economic recession, two quarters of negative GDP growth. However, keeping the ideology in the forefront, such a result will bring forth a new era of economic analysis to redefine what “recession” means. That is exactly what BEA Research Associate Jeffrey Frankel is doing.
Jeffrey Frankel is Harpel Professor of Capital Formation and Growth at Harvard University’s Kennedy School of Government. He is a Research Associate of the National Bureau of Economic Research, where he is also a member of the Business Cycle Dating Committee, which officially declares recessions. (LINK)
Mr. Frankel is busy redefining and rewriting years of economic acceptance to say that two quarters of negative economic growth no longer defines a recession. [Example Here] I’m not going to post his nonsense but go read it, because the media is about to start promoting it. That’s how his tribe rolls.
As noted in the financial shape shifting of Mr. Frankel, on a technical basis water is not wet – it is simply lacking dryness. Technically, “wet” is a condition that is created by water on other objects; therefore, water by itself is not wet. Water makes other things wet. If you understand the parseltongue, you will understand what the BEA is likely to deliver on July 28th.
In the meantime, unavoidable supply-side inflation continues to skyrocket as the prices of everything attached to the energy sector continues to rise. Everything is connected to the energy sector. As a result, we are now in the very first stages of the Building Back Better program. We have only just crossed the threshold into an economic era that will last for at least (my estimation) two decades.
The western democracies, now run by unilateral fiat and dictators empowered by their COVID-19 inflation, that received no push-back, are detaching the western economic system from oil, coal and natural gas. This will drop the standard of living in all of the nations attached to the policy (in yellow) and will create a massive surge in the wealth of the nations who do not go along with the ideological quest (in gray).
Here is where the fun, not really, starts.
The subset of “spread the wealth” ideologues are in alignment with the outcomes of the “climate change” ideologues. The climate change elites are going to give the anti-colonialists what they have always dreamed of. A world where the economics are reversed, and third world countries have the opportunity to catch up and even surpass the wealth of the western colonialists.
From the perspective of the insanely politically correct and culturally Marxist crews in/around the think tanks of Berkely, Chicago and New York, the Build Back Better alliance will accomplish for them, everything their guilt-ridden Fabian socialist minds desire. The white people (in yellow) will finally be deindustrialized so the brown people (in grey) can rise, and an equitable balance will be restored upon the planet.
If you think that sounds weird, you were not paying attention to this guy’s crew:
Joe Biden is an avatar; a political pawn; a cognitively declining guy who has no idea what is happening around him.
The people behind the Biden administration, those in real control of what this is about, have not hidden their goals and aspirations.
These are not stupid people.
They are scheming, conniving, ideological, ever-planning, ever-manipulating & Machiavellian types within the political system, lusting for power, influence and affluence.
The Talking Heads will go along with this, but the regular folks still know that the economy sucks. They don’t need fake reports, they know the price of fuel, electricity and food has gone totally out of control.
Fuel prices and food prices supersedes propaganda. No matter how hard they try. Ty for your wise words sir
Food Prices don’t matter to almost 50 million households on foodstamps.
With the free school lunch program plus summer lunches.
Makes you wonder where all that SNAP, EBT ,WIC money be at.
It be at street or come on gimme Dat folks Dat deserve it 4 doing nada. Entiendo?
Baltimore County, MD is also serving dinner. One high school’s parking lot was full of late model cars and SUV’s. The food must have been good, because the same people kept coming back.
Not everyone qualifies for foodstamps. It is a highly selective and exclusive process for individuals of a certain ethnic persuasion, if you know what I mean.
yes, and they’re also the ones behind the desk, deciding on YOUR application
Thats really not true. My daughter who has two children is on food stamps. She cares. She’s trying to raise chickens, and rabbits, and grow a garden. There are nice people on food stamps!!
And there a people that need the help. Bless your daughter for doing the right thing
It will matter when there is nothing on the shelves to buy regardless of ability to pay or foodstamp freebies.
Dems can’t fool people when inflation is in their faces. Americans are facing ever increasing food prices and high prices. Biden is telling us to “Not believe our lying eyes”.
From a fundamental physics point of view, that is part of what made Einstein famous.
Mass is energy. E=m c^2, m the mass, c the speed of light
Light is energy. E=h nu, h is Planck’s constant, nu is the frequency.
From a civilizational perspective, greater energy use = better standard of living.
They deny us wood, water (dams), coal, oil, natural gas, nuclear, and want us to use extremely insufficient, unreliable, environmentally hazardous, and dirty to manufacture, wind and sun.
We quit using these pitiful energy sources long ago. And that is why they want to force us to use them. Regression, pain, misery.
Grand dad early last century erected thousands of windmills with his 7 sons. Wonderful idea. Then they made good money replacing farmstead wind with electric pumps and pressure water. Wind is still awesome on ranches vs a need to run a mile of wire for an electric pump.
My grandparents in Iowa ran their well off a windmill. As a young child, I always found it fascinating.
Happy times.
Einstein was a genius.
“If one third of a penny (1 gram) were converted completely to heat energy, enough heat would be generated to boil roughly 43 million gallons of water; an amount of water that would fill about 85 Olympic sized swimming pools.”
Source: Roger Jones “Physics for the Rest of Us” copyright 1992
Tell me ( or anyone else) how to do this.
The quote is nice to read & contemplate, but the actual “DOINGS” apparently seems to escape “me” & likely many others , or I would think that we would all be happy for knowing how to do it.
I don’t seem to know if it is “practical” for anyone, except maybe those in the Nuclear energy field who may be able to accomplish such things.
Seems like that nuclear business is not so in-expensive.
Might be a bit difficult & expensive for us , “Average Joe & Jane types” to accomplish such a feat.
(Note – I am not being sarcastic. I would really like to know HOW to do this. Practicably & efficiently to make it worth the effort & not need the backing of a significantly sized gubment to back the doing of it.
If ya can’t say how to do this practicably & efficiently for the average person to be able to accomplish, then the quote doesn’t seem to do much help for anyone, even if Einstein was a genius.)
Thanks for your input regardless of whether there is a reply or not to my request/question(s).
It is nice to think about doing it, even if not possible, practicably or efficiently…
😉
I posted that quote as it seemed like an interesting factoid; it was not meant to taken as a component of a “how- to” project for the “average Joe and Jane types”.
If you’re offended by the quote, well….get over it.
Why boil your pool?
Omg. The volume of boiling water was used as an example of what happens when matter is converted into energy. Read the book. Try not to fixate on swimming pools.
Because connected Democratic donors are behind the companies owning/managing all this fabulously inefficient nonsense marketed exclusively to nitwit virtue-signalers. Lucky for them it’s a good way to punish deplorables and have deplorables pick up the tab.
agreed, been thinking this for awhile too.
I don’t think they give even an iota of a damn whether we are in recession or whether people are suffering. What they DO care about, however, is having to say it, or having an objective metric shoved in their face about it every day until the “election.”
They’re going to need all the plausible deniability they can muster before the 2022 steal, so they can get some mediocre gridlock and resume their business while all of us argue about the next “election” and forget all about 2020 because the GOP “won” just barely.
I just don’t see anything happening this next election.
The demo will steal it and say that everything is on the up and up.
I have no faith at all in this nation anymore aside from a people on this website and a few people I listen to on the radio today.
My faith in God is still there but this nation is toast.
Speaking of rising electricity costs I am looking to replace my water heater that is 30 years old with an electric tankless water heater to save on electricity. Does anyone have any experience with these? Recommendations? I live alone but I want to have one big enough for a family of 4 in case I sell the house. I admit to no knowledge in this area of voltage and amps. It is all Greek to me. I know my breaker box has 2 breakers for my current heater.
That is an old one.
I don’t have experience, but consider if you live in a highly regulated state, like IL, before you do anything, check your local building codes. You might have to make very costly adjustments to “come up to code”. if you hire a ‘union’ plumber and pay union rates.
And you may have to hire a licensed electrician.
Be careful to about any rules that require you to bring old homes up to code when you make changes. Plumbing as Aggiegirl points out, but also electric.
Mine is gas. Saves me about $100 a month. I did not like what I read about the electric ones.
I bought a big one for the whole house. I do not recommend this. Buy small ones that produce enough hot water needed at the point of use and place them as close to the use point as possible.
No experience with electric ones but have (and have had, in another home) a gas one. Am not a totally helpless female but can’t tell you much, other than it works and I love having endless hot water.
Get a gas water heater, if you can. They don’t even use electricity now, not even for the thermostat. If you get an electric tankless water heater and the power goes down you’re out of luck
Same moving into our new house. We lost electric and our gas fireplace on a lower level provided heat and it’s ignition is not 110 volt.
If i lived alone in your shoes i would replace your electric one for another one & put a timer on it.have it on when you shower & do wash,could be just 2 hours a day.Or just for shower & dishes.maybe $50 bucks more.
You might want to check if the local gas and electric company installs them.
Just replaced an old tankless gas with a new tankless gas. The deal is temperature increase increments. If you are heating straight from ground water temp, you will find performance weak. If you have a return put in, you will get much much better performance-it will cycle through a recirculation pump, so it is hot within 10-20 seconds. My prior heater recirc pump had failed so I was groundwater heating—I hated it, really long to get warm not hot. Now, new device is really good. As for the recirc heating, the heater has a learning mode that will learn water usage patterns to optimize the recirc. Plan for a return to be put in. I cannot speak to gas vs electric, but definitely can speak to return vs no-return. Also, remember that a tanked water heater can be drawn for drinking water in an emergency, which you will give up. If you are arid, storm risk, or at elevation, and power outage stops your water, reconsider tankless
Talk w a plumber. I have an outdoor mounted tankless heater that uses propane. It’s a Navian. No issues. I live in NW Ga.
You will need to upgrade your box. That’s the expensive part.
I had a oil fired tankless water heater, in the basement ceiling, I hated it- it took forever to get hot water to shower because it’s on demand instead of a full tank of hot water.
These elite-types want a world where the “power houses” are Africa, South America and the Middle East (and of Course China)? LOL! Ok. And if those Harvard weenies want to deny or lie their way out of DECLARING we are in a recession, they will find out how little respect those of us that actually do work have for them. Which is zilch!
The irony is not many Harvard types will be needed in the new economy, but instead it will be a straight pipeline into government.
Wait ’til they find out they need their Harvard degree to get a job issuing licenses at the BMV.
In the coming crashed and trashed economy, people will do the value-added work themselves and hire someone who does value-added work (plumber, electrician, etc.) only if they can’t do it themselves… or even forgo the project or repair altogether and just do without.
There are a lot of people getting degrees that will be worth exactly zero when most people are concerned only with food, clothing, shelter, water, and warmth.
The only option then will be government jobs where you can pretend to work, and the government will pretend to pay you in scrip that no one will accept anyhow.
Come on, Mr. Teleprompter is not the guy pulling the strings. He was a (marginally) more competent puppet than Biden is now.
The Junta Jackals redefined the definition of what a ”Vaccination” is, why wouldn’t they redefine what a ”Recession” is, now?
they defined what inflation is so to mom and pop they already have……..the hard definition of a recession is two consecutive quarters of negative GDP growth….since the government can play with the numbers and delay reporting on others they already affect when the GDP is affected by economic events
The news in deep, blue Maryland said most people were born after 1960, they don’t remember the great recession in the seventies. A lot of us were born in the fifties, and can remember the stagnation and recession from the seventies into the eighties, and how long inflation lasts.
Dems try to play people for stupid.
We on the ground know we’re on a recession. They know we’re in a recession. They know we know we’re in a recession.
So playing around with the figures will not make a bit of difference to those facing economic Armageddon on the ground every single day. Pick a figure and spit it out.
Those of us being hit hard with the reality of their intentional destruction of this country know what’s going on.
Go suck an egg, Man from Harvard.
Betsy! Such language! LOL!
They can lie all they want but the proof of recession is in the pudding If you could afford it.. Prices at the pump and grocery store will be the tell….
Once we admit that our future is bleak following this recipe for disaster we reach the conclusion that voting our way out ain’t happening. I’m not in favor of violence, but there will be no other way. The communist have every intention of destroying America. Us included. We won at the polls so the people accepted a stolen election. We were put in masks, locked down, had shots forced into our arms, lied to over and over again and we expect to see the light of day. The uniparty will eliminate the citizens if we continue thinking this way
“Once we admit that our future is bleak following this recipe for disaster we reach the conclusion that voting our way out ain’t happening. I’m not in favor of violence, but there will be no other way. ”
More people are realizing this every day. They want us dead. You don’t negotiate with someone who wants you dead.
It’s called gaslighting. We all know we are in a recession and that inflation is out of control and that there is food and income insecurity mounting by the day. The government idiots are liars.
In their ideology, I don’t understand why they feel the need to bring everyone DOWN in order to achieve their mixed up goals. They should be focusing on how to bring everyone UP – as in OPPORTUNITY. Sigh… oh yeah, I forgot, it’s our inherent white supremacy, the patriarchy, racism, and what else??
I hate godless Communists.
Agreed godless communist Democrats
They hate humans, humans are pollution generators. If they bring everyone up, then the earth worshippers get more pollution. Far from godless, Earth is their god, and you are a festering polluting tick. Remember, build back better—better for whom?
They want their 1500s economy, with their serfs impoverished, affixed to land, and in servitude to the masters of the estate.
Been there done that in the policy/statistics world myself.
Until 2008 the job was pretty straight forward – do the math, maintain the credibility the market demands, and value/maintain personal credibility so that when you are asked a question, your response can be trusted and relied upon by decision makers and treasury.
After 2008, the job changed – it started with requests to see if it is possible to reverse engineer the numbers, math and statistical procedures to obtain a “desired” outcome. It progressed to “this is the outcome we desire, make it so”. When the senior, trusted policy/statistical analysts did not want to sacrifice the personal credibility they spent a career developing – they were pushed out and replaced with people with few skills, but were ideologically very willing to please the boss.
So when you say that the Stats are cooked, this is not a revelation to me – as the entire system is cooked. What completely surprises me is that they have been able to keep everyone believing the lies from these “lie factories” for so long. 2008 was 14 years ago – 14 years of lies and counting!
Jeffrey Frankel is correct that in the U.S. (unlike Europe), two quarters of negative GDP growth do not define a recession. Rather, the NBER is recognized as the arbiter of business cycle peaks and troughs. Their retroactively determined business cycle dates beginning in 1854 are posted here:
https://www.nber.org/research/data/us-business-cycle-expansions-and-contractions
The disadvantages of depending on the NBER to date business cycles are: (1) lags of up to a year or more; and (2) subjective judgment used instead of an objective rule (such as the two negative quarters used in Europe).
Last year, Kinlaw, Kritzman and Turkington, in a paper titled “A New Index of the Business Cycle,” proposed a more objective mathematical approach.
I endorse moving toward a more algorithmically defined criterion of recession. This will reduce subjective judgment and cut the lag in announcing when recession has begun.
Meanwhile, the 2y 10y Treasury yield curve has been inverted for 15 business days. In postwar history, a recession has always followed such a protracted inversion.
Yeah, well that’ll work awhile longer, till everyone notices they’re unemployed..
The physical evidence is only starting to mount.. Like Samsung telling their suppliers to stop making deliveries, and Target asking their wholesalers to warehouse their merchandise for them because they’re out of space..
Just wait!
Its funny how falling, is a lot like flying, right up to the end!
You can tell yourself your flying….you can scream it to the World,..”Look at me, I’m FLYING,..!”
Perhaps SOME people might foolishly actually BELIEVE you are flying,..
but you have not changed REALITY, not with all your belief or feelings or SAYING it to make it so.
And your GONNA go “splat!” ,…exactly how and when its going to happen, and what comes after are still tbd, but its gonna happen.
I don’t know what is worse, being unemployed, or working and still having no money!
Heck why not work for free Joe Stalin says it is the American way!
Victor David Hanson spells it out nicely:
https://www.theepochtimes.com/the-left-should-be-happy-with-biden_4615261.html
‘The BEA is driven by political ideology’ — Sundance
Reportedly Lyndon Johnson strong-armed the BEA to jigger the GDP report in 1966, such that the NBER did not declare a recession.
It’s plausible: on FRED one can review the time series of production, income, spending and employment, and see dips in 1966 compared to the previous recession of 1960-61.
But officially, the U.S economy powered on from Feb 1961 to Dec 1969 with no recession, making the 1960s ostensibly one long economic boom.
Would this happen again today? I’m skeptical. The Atlanta Fed runs its own advance estimator of GDP. A big discrepancy between the BEA and the Atlanta Fed would raise embarrassing questions.
Also, it’s irrelevant under the U.S. definition of recession if both Q1 and Q2 show negative real growth. Even if we ARE in recession now, the NBER is unlikely to announce it until next year. They move slowly, waiting until all revisions (three, in the case of GDP) are final.
Dennis Fixler, Chief Economist of the BEA, has been there since June 2001, under both R and D-party administrations. If he were playing Venezuela-style games with the numbers, presumably complaints would be on the record. But I haven’t heard a peep about him from either party.
Inflation numbers are probably much worse than what is being calculated.
My guess is that around 50% of America’s manufacturing profits are generated by weapons sales So outside of that industry there’s very little manufacturing happening.
It begins: Today Janet Yellen appears on NBC’s Meet the Press……
Treasury Secretary Janet Yellen DENIES economy is in recession but admits it’s ‘slowing down’: Biden official says 9.1% inflation is ‘too high’ but ‘signs’ of a downturn aren’t there
She also defended the slowdown as ‘necessary’ in the long term health of the economy.
Yellen: ‘This is not an economy that’s in recession, but we’re in a period of transition in which growth is slowing, and that’s necessary and appropriate, and we need to be growing at a steady and sustainable pace,’
‘This is not an economy that’s in recession.’ – J. Yellen
Economists as a group have never forecasted a recession. J-Yel is continuing their sorry tradition of incompetence.
Fact is, no one can know in advance whether we are in recession or not, since ‘recession’ is defined by a group of wise men at the NBER.
Obviously the economy was collapsing during the covid lockdown in March 2020. We all knew it. But NBER didn’t formally announce it until fifteen months later:
https://www.nber.org/news/business-cycle-dating-committee-announcement-july-19-2021
J-Yel is perfectly aware of this accepted procedure. Her ‘not in recession’ claim is a cheap, baseless political stunt.
It’s also deeply unprofessional. This is her swan song in government, and she’s trashing the modest, mixed reputation she had with such unserious pronouncements.
Yes, there is a DEGREE of “mass psychology” to economics, no doubt.
If the Govt and MSM SAY the economy is slowing down, that DOES have an effect, causing managers to hold of on hiring, and purchasers to restrain buying,…and contrarywise hyping the economy CAN boost activity.
But it is far from absolute; the “Trump Economy” took off like a rocket, and continued accelerating, despite ‘reports’ from Govt and msm, underplaying it, and similarly the govt manipulating #’s, and msm complicity can not prevent a reccesion.
“A recession by any other name is STILL a recession, and it bites just as deep.”
The oft made comparison to “Bagdad Bob” is relevant.
No matter what Bagdad Bob SAID, U.S. Troops WERE siezing control of the airport, and nothing he said was goung to change that reality.
Similarly, playing with #’s and how its reported isn’t going to CHANGE reality, or (for very long) the PERCEPTION of reality.
You can stand in front of a camera, microphone in hand, and say “No, there is NOT a Tsunami about to wash away our town!”,…right up until you are, in fact washed away.
They have greatly overestimated their ability to control what people think, and therefore control people.
Sundance’s observation of the motivating concept of anti-colonialism is in line with Dinesh D’Souza’s movie about Obama. In it, he asserts it is Obama’s principal world view and motivation.
Will Donald Trump be arrested and jailed by the FBI in September or October before the Democrats steal the 2022 mid-terms, as a warning to the MAGA movement not to further interfere with the Marxist consolidation of power in the DC Swamp?
Or will he instead be arrested and jailed in November or December after the 2022 mid-terms have been stolen as a signal message to the MAGA movement that it has been thoroughly defeated and must give up the fight?
He will probably be indicted well before the mid-terms.
I doubt he will be arrested because of the potential blowback the Dems will get at the election which may be too much to overcome with cheating.
If Trump is indicted/ arrested before the midterms, it would turn the Uniparty’s already poor chances into a route! I believe it will happen shortly after the midterm elections. But happen it will, because the Uniparty is playing for keeps this time! We don’t vote our way out this time. I pray for my country.
The tme for praying might be over.
I’m trying to find my dog tags.
I put them in a safe place when I was discharged in 1971 but damned if I can remember where!
I might need them to join the MAGA militia.
Since 0.0 is not negative growth, is that all they need to say there is no recession?
0.1, and they can brag that PedoJoe turned the economy around.
0.5 is just more blatant lying that will have to be supported by gaslighting, like they do with all the things they push.
“The people behind the Biden administration, those in real control of what this is about, have not hidden their goals and aspirations.
These are not stupid people.
They are scheming, conniving, ideological, ever-planning, ever-manipulating & Machiavellian types within the political system, lusting for power, influence and affluence.”.
And in the words of President Donald J. Trump: These evil people “HATE AMERICA”
When it comes to BBB and the “green” agenda, “spread the wealth” means spreading everyone’s wealth into the elitist’s pockets.
That’s why Biden gave $40 Billion to the Ukraine, money laundering and kickbacks.
As of 12 July, over 65 Billion has been sent there for money laundering.
You’ve got your climate zealots, the true believers who ignore inconvenient facts, and are willing to sacrifice millions of people by starvation or whatever means necessary to save the planet. Then there’s the AOC crowd that likes Going Green because they think its cool. There’s the political creatures who could care less about Going Green, except that they sense an opportunity to increase their power and control over other people’s lives while they live high on the hog. The charlatans, like Al Gore, fly all over the globe to promote Going Green, using more energy and contributing more carbon emissions in a year than I would in a lifetime because they want to devise a system of carbon credits and cap and trade that provide them with tremendously more money. The True Blue rank and file will follow their senile and witless leader off the climate cliff. The Old Left look at Going Green as the big play to steer the Dems further left. Woke corporate leaders and the entertainment industry have to join in with Going Green because of their fake concern for all things social justice and being cancelled if they don’t go along with the agenda.
All have converged under the Biden Administration to fundamentally change the way we live, because of, well, everything mentioned above.
“Not in a recession” will be as true as 1) “most secure election ever” 2) Covid vaccines will prevent people from catching covid 3) peaceful protests, as buildings burn in the background, 4) Mayorkas insisting “the border is secure”. Could go on and on , but these examples still cannot compare to the sign above the entrance to Auschwitz , “work will set you free”. Pray and pray more and hopefully a Devine intervention saves us. Try to live your best life
They are more than willing to sacrifice billions of people. They are eager.
I think you might be wrong on this one Sundance.
I think they might choose to write Q2 off. Make the numbers looks worse than they are…
And then use it to buffer Q3 numbers closer to the election.
Write off all the bad stuff now… So everything looks like it’s improving in late October.
I remember when the BEA hung a one quarter recession on George H. W. Bush. That violates the very definition of “recession”.
As I read Sundance’s article I am drawn to this sentence …. “Jeffrey Frankel is Harpel Professor of Capital Formation and Growth at Harvard University’s Kennedy School of Government.”
The Harvard University’s Kennedy School of Government is a common factor and intersect point for ALL the major (professional, non-appointed, hired, senior staff, etc. etc.) leadership within each Agency of the US Government’s Executive Branch.
There are linked and affiliated John F Kennedy School of XXXX within DHS and DoD, where foreign officers and paramilitaries are TRAINED, while selected Offciers from DHS, State Department and DoD attend to be indoctrinated and trained.
Foreign Governments, including our enemies have chairs and seats at the Harvard JFK School.
The Harvard JFK school actually has extension offices and programs at FOREIGN Universities, including Russia and China Inc.
This is the cross roads where evil is created and coordinated, more so than the WEF. The people graduating or trained here are the deep state staffers who WRITE, IMPLEMENT and COORDINATE face to face.
Reminder … it was just a few weeks ago that rules and methods for calculating ALL things economic report, by the US Government, were rolled back to 2015 when Comrade Obama was in his 2nd term.
The people rolling back the rules and methods were part of Comrade Obama’s administration in 2015.
Number one, as already noted, they will fiddle with non recognition of all the inflation
Number two. They will use gross data and since we have an inbound flood of illegals, The better number would be per-capita GDP. It will be a larger drop.
Okay, question: How do we stop this??? You know we must, somehow. Ballot box?
Look at Sri Lanka. The people rose up and got rid of the President and the Prime Minister, both WEF guys. Who took their place? Another WEF guy. The people don’t realize it. But the new guy will tread carefully, he’ll give them tiny concessions but the agenda won’t change.
Same old, wash-rinse-repeat. Sorry to say this nothing less than the seizure of all of their financial assets, and that of their immediate family and close associates would spread terror in their hearts.
I had reached a point where I refuse to interact with anyone who supports the leftist. They are just as much the enemy of this Country as the Biden Regime is. It means cutting off of family. So be it. They are the ones who support evil, they have died to me.
Me too. In my opinion they are the enemy.
truth hurts stated to family except for christmas and kids birthdays no $ for anniversaries or their birthdays due to economy and only invite friends who are maga as worth my time, effort and $
The same for us, our only grandchild gets Christmas and birthday and we do help my Mom, but lib family and friends are no longer in our lives. It’s just a matter of realizing that you have absolutely nothing in common with these people and it’s far deeper than politics.
My brother-in-law buys organically grown peaches every year and picks up my order. He goes to the farm market at the orchard, the farmer does not have to transport the peaches anywhere. The peaches are sold picked, culled, and heaped up in 1/2 bushel cardboard containers.
The price has been $50 for the last several years. This year the price is $60. Yes indeed, that is $120/bushel at the orchard. A 20% jump in one year. Ouch. Nonetheless, we may go back for more. There is no telling how much the peaches will cost next year or if they will be available and of the same outstanding quality then.
Well, the economic debacle has its roots in ‘most favored trade’ status. And Clinton on the Wally board of directors while shuttering military bases and the Post Exchanges/Commissaries.
The onset was the big box proliferation of the mid 90’s. I first noticed it in the clothing sector–especially children’s clothing. They were poor quality and basically all looked pretty much the same, be it wally world, target, kohls penneys, macys, old navy and the fall of Marshall Fields, K-Mart, and Sears. And some Midwest stores, like Venture.
Consumerism for cheap goods gave a false sense of being ‘wealthy’ but we have learned that more is not better.
Wars then and now:
The archbishop had some good insights way back when….economic and otherwise.
At the time, Bishop Fulton J Scheen was considered one of the most brilliant minds of the day. He was one of very few to actually earn the Doctor of Doctors degree from Lueuve University in Belgium, to go with his other academic and life’s accomplishments. His TV show was one of the most popular shows at the time, watched by people of ALL denominations.
I had the honor of spending an entire day with him as an escort, when he visited the Military Academy.
Yet, for all his accomplishments there were many within the hierarchy of the Catholic Church who were major detractors because of his advocacy for moving the church back to its simpler, actual apostolic beginnings.
Sundance, if you think we are entering 20 years of this mess, does that mean you think it cannot be turned around?
Does the midterm election mean nothing?
The 2024 election, nothing?
How about Schedule F?
I would think any Rep not suffering cranio-rectal inversion would seize that level of prep and run with it, if the next president is not Trump.
Is there nothing that can turn this around?
We obviously think there is or we would not be here reading this site.
So please explain why this will take 20 years if they are only 18 months in, they get stopped and defunded in Jan 23, and thrown out completely in Jan 25?
Otherwise, why bother?
Time for a quick civil war. I think it has the potential of being a painless coup where the people tell the politicians and deep state to shove it…. go away, we’re not paying you any attention any more.
Waiting for Florida to raise the flag… and then we get the Sheriffs to go along.
Even in Calimexistan, most Counties are conservative, you know? And we’re sick of the shenanigans in San Franciskovich and Sacramentograd. Now, that’s not just my opinion.. that’s the opinion of the Orange County Board of Supervisors.
I’m pretty sure in Riverside, Ventura, Santa Maria, Santa Barbara, SLO, Kern, the Central Valley and ALL of NorCal agree with that. Likely San Diego and San Bernardino… Heck, even the sheriff in LA County is one of the Good Guys.
It’s like a tinder box… we’re just ready for the match to be lit and then we’ll plum IGNORE the commies. Just wait when they find out there’s actually more than us than them… because the useful idiots and machines don’t count when power comes from the barrel of your willpower.
You see, the Progressives have made on fundamental mistake: they have congregated together in a minority of the land and the counties. There are much many more conservative counties than there’s are progressive counties. Nevermind the voting data… that’s heavily manipulated nowadays.
So, if we go county by county, we win by a huge margin. That’s why the Left doesn’t like Electoral Colleges… they want to run their machines at 11 all night long to overwhelm the “popular” vote. In King County, WA, they’ve been doing that like forever… Just ask Rossi.
Or Coleman in another state.
Tony:
“Quick Civil War”? …Haven’t read any detailed info about how long they thought the last one might last…seems like it actually lasted 4 years(1861-65) and 2% of the population(7.5m people in todays terms).
If we are talking about a amicable separation, followed by a divorce…Might be worth reviewing the fiction books by Conservative Author Kurt Schlicter, on what the US might be like after a national divorce. Not pleasant or pretty…he has thought through the possible outcomes, and presents a plausible, although currently fictional account of a potential outcome.
…I think the leftists are like a spouse that abuses the other…”I love you so much…why do you make me Beat you?” They get much more satisfaction by bending us to their will, and forcing us to do what they want, then they actually enjoy doing for themselves.
And yes…I saw the map with Islands of blue in a sea of red…it is actually down to zip codes and geographical areas inside of counties, such as Los Angeles.
People know what is going on regardless of what the admin or it’s media arm says.
of course they can re-define ‘recession’
if they can re-define ‘vaccine’ as something you get injected with that d0esn’t actually prevent you from coming down with the disease
… then re-defining ‘recession’ is a walk in the statistical park
Maybe BEA really stands for Bug Eaters of America.
This just shows that the Media Monopolies have to be DESTROYED!
They can’t restructured, and even if that was attempted the best we could hope is 70% Lefitst and 30% Moderate (if we were lucky).
Right now Disney, Warner Brothers, Paramount/CBS/Viacom are HURTING on every level. If we withhold are our investment dollars or divest. It’s the only chance we have for change in our favor.
This not a recession this is a depression this is a plan to control us servents. Fear is the work of the devil we are the worst type salves we are educated slave The masters are out numbered and they are blinded
We saw this same redefining historical norms by calling the Covid shot a vaccine.
4 shots and Biden still got it.
That’s not a vaccine.
I think that the Leftists will make more overreach errors… certainly hope MAGA is ready to pounce and #fightback as this happens…
Barack is our real president and has been plotting the destruction of hated capitalism since long before he was elected to anything. Michelle saw in Barack what Hillary saw in Slick Willie, her “ticket to the top.” Michelle is the certain democratic nominee for 2024 and anyone who opposes is a white supremacist racist!
Avoiding the recession label is one reason Biden was madly selling oil from the reserve. Those oil exports were helping to keep the official numbers up for Q2.
That’s it!! Redefine “Recession”; just like THEY issued a new definition for “Vaccine”.
“That’s how his tribe rolls”
Yes, it certainly is.
I would be happy, if this fake president were too turn green….
I M P E A C H…..the…..T U R D