Archive for July 29th, 2022

It looks like a duck, it walks like a duck, it quacks like a duck so …

July 29, 2022

In Biden-speak: It must be an eagle
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Of course, we’re talking about the “R” word – Recession.

In a prior post, we “followed the data” to observe that:

The past 10 times the U.S. economy experienced two consecutive quarters of negative economic growth, the NBER subsequently confirmed (holistically after-the fact)  that  a recession had occurred.

For details, see: When is a 2-quarter GDP drop not a recession?

Well, as expected, GDP fell for the second consecutive quarter and Team Biden — dismissing the data — stuck to its “reimagination” of a recession … claiming that the 2-quarter drop does not indicate that we’re in a recession.

Here’s what’s interesting …

Biden’s crack team of economists (Yellen, Deese, Bernstein) and media flacks (CNN, AP, Politico)  are on record proclaiming exactly the opposite … that a 2-quarter drop in GDP is RECESSION.

Want some evidence?

Team Tucker did a deep dive into their digital archives,

Here’s a 5-minute then & now montage that nails Team Biden’s hypocrisy… well worth viewing.

click to view (5 min.)
image
Source

So much for following the data…


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