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A Horrible Economic Recession Is Likely Already Upon Us Despite The President’s Constant Downplaying Of The Situation
The Federal Reserve and the Biden Administration have failed to stave off inflation and the interest rate hikes have pushed the country deeper into a recession, as was predicted. What does that mean for the American people?
To begin this story, let’s preface it with the common sense reality that Joe Biden’s administration isn’t going to tell the world he’s led the United States into a recession. It’s not going to happen. That’s not because it’s not the truth, or won’t be the truth, but because it would be devastating to his party's chances in the 2022 elections in November. So, as free-thinking people, it’s going to be much like it was during the worst of Covid and we’ll have to think and manage for ourselves.
The US Economy has, for the second quarter in a row, shrunk from April to June. This means it’s hit an accepted fact by economists that we’re now at an accepted point of a recession, reported the Bureau of Economic Analysis on Thursday.
The GDP fell .9%, following a 1.6% decline in the first quarter, and was below the estimates of the Dow which…