More
    HomePoliticsUSAGrim News About To Be Announced This Week

    Grim News About To Be Announced This Week

    Published on

    Americans are asking where we are and how long this will last as they struggle to put food on the table and fuel their cars with petrol to get to work.

    Some people might claim that we are in a recession based on historical comparisons.

    Why does a recession occur?

    “A sustained period of weak or negative growth in real GDP that is accompanied by a significant rise in the unemployment rate,” is how Forbes defines a recession.

    Given the everyday occurrence of “help needed” signs across the nation, unemployment is undoubtedly lower.

    A recession is described as “a significant decline in economic activity spread across the economy, lasting more than a few months.” by the National Bureau of Economic Research.

    Certainly, this situation has persisted for longer than a few months, but when you consider the pandemic shutdowns, company closures, and employee turnover, you might make the case that we have been in this situation for a number of years.

    For every issue, the Biden administration is prepared with an accusatory response.

    But how long will Biden continue to put the blame for “supply chain issues” and “Putin’s pricing rises” somewhere else?

    He has had 18 months to deal with these issues, yet he has not.

    Even though there has recently been some slight relief at the pump, gas prices are still heading upward.

    Additionally, there are no signs of an improvement; in fact, the data point to the reverse.

    According to Politico, the impending deluge of negative economic news is a “Category 5 storm.”

    Given the gloomy statistics that will come out of Washington this coming week, the Biden administration may actually want to dig a hole and hide out while Biden travels to his summer residence in Delaware.

    The current dismal consumer confidence numbers were released on Tuesday. Wednesday is followed by a Federal Reserve meeting and interest rate decision, as well as a press conference by Fed Chair Jerome Powell.

    On Thursday, the first estimate of second-quarter GDP growth declines. And to wrap up the massive flurry of statistics on Friday, the most recent figures on our troubling trend of historically high consumer price inflation. Deutsche Bank analysts said the deluge of material will “leave you breathless” in a letter to clients today.

    The news is not good.

    However, there is always hope for the White House. The Biden administration has stated time and time again that the economy is improving and that gas prices will decline.

    It’s “as if they’re reading the entrails of a newt and discovering that ‘prosperity is just around the corner,’ as Herbert Hoover claimed right before the bottom dropped out of the economy,” according to PJ Media.

    Politico takes a forward-looking stance: What matters now, both politically and economically, is the direction things are headed. Are we tipping toward a significant and painful recession? Or does the recent decline in gas prices portend more relief to come for strapped consumers who have helped turn this into one of the most hated economies in recent history? We should know a lot more about the answers by this time next week.

    The direction to look for the future of the nation and the Democratic White House is in this coming Thursday’s figures.

    More on this story via The Republic Brief:

    PJ Media notes, “If the GDP is in negative growth territory, no amount of spin by the administration or Democrats will avoid the conclusion that the nation is officially in a recession.”

    In that case, we will be solidly in a certain recession, regardless of the pandemic issues.

    Latest articles

    Trump Drops Massive News After Latest Development From Durham Probe

    Recent court papers targeting Hillary R. Clinton and her 2016 presidential campaign by Special...

    Clarence Thomas Issues Order to Biden DOJ as Trump Takes Mar-a-Lago Fight to Supreme Court

    In a legal filing, former President Donald Trump requested that a special master assigned...

    ‘Should Not Be Here At All’: DeSantis Claims That Majority Of Post-Hurricane Ian Looters Are Illegal Immigrants

    Florida's Republican governor, Ron DeSantis, claimed during a press conference on Tuesday that three...

    Report: Trump Aide Left Biden a Personal Surprise in White House AC System

    According to excerpts from a new book, the outgoing Trump administration has some surprises...

    More like this

    Trump Drops Massive News After Latest Development From Durham Probe

    Recent court papers targeting Hillary R. Clinton and her 2016 presidential campaign by Special...

    Clarence Thomas Issues Order to Biden DOJ as Trump Takes Mar-a-Lago Fight to Supreme Court

    In a legal filing, former President Donald Trump requested that a special master assigned...

    ‘Should Not Be Here At All’: DeSantis Claims That Majority Of Post-Hurricane Ian Looters Are Illegal Immigrants

    Florida's Republican governor, Ron DeSantis, claimed during a press conference on Tuesday that three...