Fears of recession are everywhere — except at the clueless White House

Earl said:
Fears of recession are everywhere — except at the clueless White House
By Post Editorial Board
April 16, 2022 7:52pm Updated

It was Bidenomics -- the war on energy, Dems' nearly $2 trillion debt-fueled American Rescue Plan spending spree -- that sparked Bidenflation in the first place. Carolyn Kaster/AP
More On: recession

Yield curve ‘inverts,’ stoking fears of US recession
Morgan Stanley warns last week’s stock bounce was ‘vicious bear market rally’
Goldman Sachs says US faces 35% risk of recession over the next year
US jobless claims decline to 52-year low

With prices soaring, labor shortages, the Ukraine war raging, supply-chains snarled and interest rates now set to rise, fears of a looming recession are everywhere. Except, of course, at the White House — which is in utter denial.

Just as it was over inflation.

“‘Inflation shock’ worsening, ‘rates shock’ just beginning, ‘recession shock’ coming,” blared Bank of America chief investment strategist Michael Hartnett in a note to clients.

“We anticipate that a more aggressive tightening of monetary policy will push the economy into a recession,” warns Deutsche Bank’s economists.

“The overheating of the labor market has raised the risk of recession meaningfully,” declares Goldman Sachs chief economist Jan Hatzius.

“Recession in the next couple of years is clearly more likely than not,” warns Clinton Treasury Secretary Larry Summers — whose prescient alarms on inflation a year ago went unheeded by Team Biden.

One development prompting jitters: Yields on short-term debt have been inching past longer-term debt, signaling investors’ lack of confidence in the economy down the road.
The Federal Reserve building.
Inflation has risen to 8.5 percent as of March.
Joshua Roberts/REUTERS

The key problem: The Federal Reserve Board’s drive to tame inflation — now running at 8.5% a year, the highest since 1981 — by jacking up interest rates and shrinking its balance sheet runs the risk of squeezing credit, thwarting investment and growth. After months of claiming (like the White House) inflation was “transitory,” the Fed is now finally tightening, with expected rate hikes totaling as much as perhaps 2 ½ points before year’s end.

Add to that lingering pandemic-era supply-chain issues, Russia’s invasion of Ukraine, President Joe Biden’s war on energy and Dems’ tax-and-borrow agenda — and recession in a year or two starts looking ever more likely.


Indeed, Summers notes that there’s never been “a moment in the United States when inflation was above 4[%] and unemployment was below 4[%]” — as now — “and we didn’t have a recession within the next two years.”

But the White House is all happy talk. Asked if Biden believes Summers is right about recession, as he was about inflation, White House flack Jen Psaki huffed, “That is not a projection we have made.” And National Economic Council Director Brian Deese claims the administration has “driven a uniquely strong economic recovery” that “positions us uniquely well to deal with the challenges ahead.”

Sorry: It was Bidenomics — the war on energy, Dems’ nearly $2 trillion debt-fueled American Rescue Plan spending spree — that sparked Bidenflation in the first place. Now the same cure pretends it’s going to fix its disastrous mistake, even while it sticks to the same course?

Brace for a rocky road ahead.
https://nypost.com/2022/04/16/fears-...e-white-house/
Click to expand...


So you confidently predicted a recession a year and a half ago, but it still hasn't happened.
 
Earl said:
Fears of recession are everywhere — except at the clueless White House
By Post Editorial Board
April 16, 2022 7:52pm Updated

It was Bidenomics -- the war on energy, Dems' nearly $2 trillion debt-fueled American Rescue Plan spending spree -- that sparked Bidenflation in the first place. Carolyn Kaster/AP
More On: recession

Yield curve ‘inverts,’ stoking fears of US recession
Morgan Stanley warns last week’s stock bounce was ‘vicious bear market rally’
Goldman Sachs says US faces 35% risk of recession over the next year
US jobless claims decline to 52-year low

With prices soaring, labor shortages, the Ukraine war raging, supply-chains snarled and interest rates now set to rise, fears of a looming recession are everywhere. Except, of course, at the White House — which is in utter denial.

Just as it was over inflation.

“‘Inflation shock’ worsening, ‘rates shock’ just beginning, ‘recession shock’ coming,” blared Bank of America chief investment strategist Michael Hartnett in a note to clients.

“We anticipate that a more aggressive tightening of monetary policy will push the economy into a recession,” warns Deutsche Bank’s economists.

“The overheating of the labor market has raised the risk of recession meaningfully,” declares Goldman Sachs chief economist Jan Hatzius.

“Recession in the next couple of years is clearly more likely than not,” warns Clinton Treasury Secretary Larry Summers — whose prescient alarms on inflation a year ago went unheeded by Team Biden.

One development prompting jitters: Yields on short-term debt have been inching past longer-term debt, signaling investors’ lack of confidence in the economy down the road.
The Federal Reserve building.
Inflation has risen to 8.5 percent as of March.
Joshua Roberts/REUTERS

The key problem: The Federal Reserve Board’s drive to tame inflation — now running at 8.5% a year, the highest since 1981 — by jacking up interest rates and shrinking its balance sheet runs the risk of squeezing credit, thwarting investment and growth. After months of claiming (like the White House) inflation was “transitory,” the Fed is now finally tightening, with expected rate hikes totaling as much as perhaps 2 ½ points before year’s end.

Add to that lingering pandemic-era supply-chain issues, Russia’s invasion of Ukraine, President Joe Biden’s war on energy and Dems’ tax-and-borrow agenda — and recession in a year or two starts looking ever more likely.


Indeed, Summers notes that there’s never been “a moment in the United States when inflation was above 4[%] and unemployment was below 4[%]” — as now — “and we didn’t have a recession within the next two years.”

But the White House is all happy talk. Asked if Biden believes Summers is right about recession, as he was about inflation, White House flack Jen Psaki huffed, “That is not a projection we have made.” And National Economic Council Director Brian Deese claims the administration has “driven a uniquely strong economic recovery” that “positions us uniquely well to deal with the challenges ahead.”

Sorry: It was Bidenomics — the war on energy, Dems’ nearly $2 trillion debt-fueled American Rescue Plan spending spree — that sparked Bidenflation in the first place. Now the same cure pretends it’s going to fix its disastrous mistake, even while it sticks to the same course?

Brace for a rocky road ahead.
https://nypost.com/2022/04/16/fears-...e-white-house/
Click to expand...

We are already in an economic depression and have been since 2020. The Democrats started it. Inflation is incredibly high as well, now at approx. 32% since Biden was installed. The debt has climbed incredibly high as well, now a whopping $32 trillion. Just SERVICING this debt (not paying any of it back!) will soon become a larger budget item than the entire military budget!

The rocky road is here. We are on it. Money velocity is dropping pretty fast now, since people can no longer afford even basic necessities unless they have an unusually high income or alternate sources of income.

And we are headed for worse. Faith in the dollar itself is waning.
 
Earl said:
With the far left Democrat Socialists in control, these are perilous times.

They are compounding every crisis.

The tens of millions of illegals arriving with nothing but the shirts on their backs will have to be fed, housed, educated and provided health care. Overcrowded schools, hospitals, cities...out of control crime, inflation, Ukraine and on and on.

Then Biden declares war on the energy sector.
Click to expand...

Hell. Biden declared war on Republicans. He declared he wants a civil war. Remember the infamous 'red' speech?
 
danielpalos said:
You mean your socialism on a national or international basis laws? There is No Immigration clause in our federal Constitution. Obey the Constitution Law right-wingers don't merely practice the abomination of hypocrisy regarding "immigration".
Click to expand...

See Articles I and II of the Constitution of the United States. You will find the immigration clauses there.
 
Earl said:
To repeat...if there is no red tsunami in November, we can all fold our flags and go home.
Click to expand...

How can you tell? Democrat election fraud is occurring pretty regularly these days. I have already heard several Democrats about committing election fraud again.
Will it be enough this time?
 
danielpalos said:
Vote Blue to move forward on infrastructure not Red to help the Richest get richer!
Click to expand...

Church of Global Warming and Church of Green bullshit is not 'infrastructure'. Most of the richest are DEMOCRATS (including Bill Gates, Mark Zuckerberg, Disney executives, Joe Biden, the Clintons, Besos, most Hollywood actors, writers, and producers, most newspapers such as the New York Times, Fox, Los Angeles Times, Associated Press, etc;

Some rich folks are Conservatives, notably Trump and Elon Musk.

Should the rich get richer? Certainly! Capitalism is the voluntary creation of wealth (products and services) for the voluntary sale at an agreed upon price.
ANYONE can play! Feeling poor? Start a business. Provide a product or service. You too can become rich! All you need it drive and a product or service that people actually want.

I did it. I started my company with basically nothing. I sell instrumentation for industries worldwide now. A friend of mine started a company manufacturing video playback equipment from nothing. He sells that equipment worldwide now. You might have even seen it in action, though you didn't know who built it!

Another guy I know lost his job to Covid. He went out and started a masonry company. He employs 120 workers now and does an excellent job laying asphalt and concrete driveways, foundations, retaining walls, etc. He started in the midst of the Covid fear mongering by Democrats!

Stop yer whining and get to work!
 
Last edited:
Earl said:
Fears of recession are everywhere — except at the clueless White House
By Post Editorial Board
April 16, 2022 7:52pm Updated

It was Bidenomics -- the war on energy, Dems' nearly $2 trillion debt-fueled American Rescue Plan spending spree -- that sparked Bidenflation in the first place. Carolyn Kaster/AP
More On: recession

Yield curve ‘inverts,’ stoking fears of US recession
Morgan Stanley warns last week’s stock bounce was ‘vicious bear market rally’
Goldman Sachs says US faces 35% risk of recession over the next year
US jobless claims decline to 52-year low

With prices soaring, labor shortages, the Ukraine war raging, supply-chains snarled and interest rates now set to rise, fears of a looming recession are everywhere. Except, of course, at the White House — which is in utter denial.

Just as it was over inflation.

“‘Inflation shock’ worsening, ‘rates shock’ just beginning, ‘recession shock’ coming,” blared Bank of America chief investment strategist Michael Hartnett in a note to clients.

“We anticipate that a more aggressive tightening of monetary policy will push the economy into a recession,” warns Deutsche Bank’s economists.

“The overheating of the labor market has raised the risk of recession meaningfully,” declares Goldman Sachs chief economist Jan Hatzius.

“Recession in the next couple of years is clearly more likely than not,” warns Clinton Treasury Secretary Larry Summers — whose prescient alarms on inflation a year ago went unheeded by Team Biden.

One development prompting jitters: Yields on short-term debt have been inching past longer-term debt, signaling investors’ lack of confidence in the economy down the road.
The Federal Reserve building.
Inflation has risen to 8.5 percent as of March.
Joshua Roberts/REUTERS

The key problem: The Federal Reserve Board’s drive to tame inflation — now running at 8.5% a year, the highest since 1981 — by jacking up interest rates and shrinking its balance sheet runs the risk of squeezing credit, thwarting investment and growth. After months of claiming (like the White House) inflation was “transitory,” the Fed is now finally tightening, with expected rate hikes totaling as much as perhaps 2 ½ points before year’s end.

Add to that lingering pandemic-era supply-chain issues, Russia’s invasion of Ukraine, President Joe Biden’s war on energy and Dems’ tax-and-borrow agenda — and recession in a year or two starts looking ever more likely.


Indeed, Summers notes that there’s never been “a moment in the United States when inflation was above 4[%] and unemployment was below 4[%]” — as now — “and we didn’t have a recession within the next two years.”

But the White House is all happy talk. Asked if Biden believes Summers is right about recession, as he was about inflation, White House flack Jen Psaki huffed, “That is not a projection we have made.” And National Economic Council Director Brian Deese claims the administration has “driven a uniquely strong economic recovery” that “positions us uniquely well to deal with the challenges ahead.”

Sorry: It was Bidenomics — the war on energy, Dems’ nearly $2 trillion debt-fueled American Rescue Plan spending spree — that sparked Bidenflation in the first place. Now the same cure pretends it’s going to fix its disastrous mistake, even while it sticks to the same course?

Brace for a rocky road ahead.
https://nypost.com/2022/04/16/fears-...e-white-house/
Click to expand...

Come on Earl, start thinking Positive!

I thought we discussed the FRB rate raising just last week.

I asked you to trust me that the FRB was not going to raise the rates anymore.

In my mind the trend downward is more than likely to start now that we have solid economic factors again!

And these numbers mean that any recession is very unlikely now.

Be happy that we are out of trouble now, and improving every month going forward.
 
Earl said:
According to the Democrap expert economists, inflation was supposed to be transitory. It wasn't.

We will likely see an energy crisis here due to massive price increases and reduced production. All amid a huge demand increase as electric cars get plugged in.

Supply chain issues will get worse thanks to vaccine mandates and unemployment. It seems store shelves are increasingly empty.

Home prices and rental prices have skyrocketed across most of the country, thanks in part to the aforementioned companies like Blackstone.

Schools are increasingly unwilling to educate our children, instead opting to indoctrinate them into wokeism/diversity/equity.

Hoards of illegals are invading. Soon 20% of our population will be illegal aliens, many from cultures which are the antithesis of ours.

The medical establishment has been taken over by political apparatchiks, as we see quality of care plummet.

Corporate America has become an arm of the Democrap machine, promoting it's sick agenda.

The MSM and social media are now fully in control of suppression of free speech.

Soon we will see gun confiscations happen across the country.

Recession, which has already begun, will get worse ... As the world sinks into a new Dark Age.
Click to expand...

Civil war is definitely the danger here. It will be started by Democrats.
Gun confiscations will start it.

These twits don't understand there are more guns than people in the States, and a lot of those people know how to use them!

Maybe it will happen when people are simply trying to defend their homes and families from open violent crime and looting, and they're tired of seeing their cities turned into hellholes.
Maybe it will happen when the sex perverts take kids away from parents so the kids can be mutilated.

It will probably happen just after the election of 2024 no matter who wins, and no matter whether the election faults or not. The Democrats will go ape after that and start this fucking war.
 
Geeko Sportivo said:
Come on Earl, start thinking Positive!

I thought we discussed the FRB rate raising just last week.

I asked you to trust me that the FRB was not going to raise the rates anymore.

In my mind the trend downward is more than likely to start now that we have solid economic factors again!

And these numbers mean that any recession is very unlikely now.

Be happy that we are out of trouble now, and improving every month going forward.
Click to expand...

His post is from 2022. In 2022 we had two consecutive quarters of negative growth which by most traditional measures is a recession. So I’m not sure why this thread was grave digged because at the time there was rightfully a lot of talk of recession.

Now we hear the phrase “the most predicted recession” because people have been talking about it for quite awhile. Everything is still crazy in a post COVID high interest rate environment.
 
American Families’ Finances Are Approaching The Breaking Point Under The Cumulative W
American Families’ Finances Are Approaching The Breaking Point Under The Cumulative Weight Of Months Of Painful Inflation

In Biden’s Economy “[A] growing number of Americans say their own financial circumstances are worsening on Biden’s watch. Roughly 4 in 10 Americans (41 percent) say they are not as well-off financially since Biden became president, up from 35 percent one year ago and the highest percentage to report such a sentiment under any president in Post-ABC polls since measurement began in 1986.” (“Americans Not Feeling Impact Of Biden Agenda, Post-ABC Poll Finds,” The Washington Post, 2/06/2023) Only 16% of Americans say they are financially better off than they were two years ago when Biden was sworn in. (Washington Post-ABC News Poll, 2/03/2023)

A large majority of Americans (58%) disapprove of President Biden’s handling of the economy. (Washington Post-ABC News Poll, 2/03/2023) Since President Biden Took Office, Prices For Food, Energy, Transportation, And Housing Have Increased At Staggering Rates Since President Biden took office, inflation has increased 13.5%. (Bureau of Labor Statistics, Accessed 1/12/2023) Grocery (food at home) prices have increased 18.6%. (Bureau of Labor Statistics, Accessed 1/12/2023) Food away from home prices have increased 14.4%. (Bureau of Labor Statistics, Accessed 1/12/2023) Energy prices have increased 33.9%. (Bureau of Labor Statistics, Accessed 1/12/2023) Prices for fuel oil have increased 89.3%. (Bureau of Labor Statistics, Accessed 1/12/2023)

Gasoline (all types) prices have increased 37.8%. (Bureau of Labor Statistics, Accessed 1/12/2023) Natural gas prices have increased 47.3%. (Bureau of Labor Statistics, Accessed 1/12/2023) Electricity prices have increased 21.0%. (Bureau of Labor Statistics, Accessed 1/12/2023) Rental prices for a primary residence have increased 11.9%. (Bureau of Labor Statistics, Accessed 1/12/2023) Prices for used cars and trucks have increased 26.2%. (Bureau of Labor Statistics, Accessed 1/12/2023) Prices for new vehicles have increased 18.1%. (Bureau of Labor Statistics, Accessed 1/12/2023) Furniture prices have increased 19.6%. (Bureau of Labor Statistics, Accessed 1/12/2023) Apparel prices have increased 5.8%. (Bureau of Labor Statistics, Accessed 1/12/2023) Airline fares have increased 33.7%. (Bureau of Labor Statistics, Accessed 1/12/2023) Americans Continue Losing More Of Their Paychecks To Inflation, With Year-On-Year Real Average Weekly Earnings Decreasing 3.1% “Real average hourly earnings decreased 1.7 percent, seasonally adjusted, from December 2021 to December 2022.

The change in real average hourly earnings combined with a decrease of 1.4 percent in the average workweek resulted in a 3.1-percent decrease in real average weekly earnings over this period.” (Bureau of Labor Statistics, Press Release, Accessed 1/12/2023)

https://www.republicanleader.senate...n-the-last-two-years-of-failed-biden-policies
 
Last edited:
The annual inflation rate since 7/22 is 3%.

The price increases quoted above for 1/23 will be higher for 7/23.

Those price increases in 1/23 remain with us.
 
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