The Homa Files

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.)

Source

So much for following the data…

This entry was posted on July 29, 2022 at 7:59 am and is filed under Bidenomics, Recession. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.