Biden Says Recession Possible But “Very Slight”

With the NYT engaging in pre-emptive damage control, calling Biden’s demented torrent of fabrications and lies “folklore, with dates that don’t quite add up and details that are exaggerated or wrong, the factual edges shaved off to make them more powerful for audiences”, and then going so far as comparing Trump with Biden and concluding that “with Biden, people have decided these are not the kind of lies that matter,” Mr. Alterman added. “These are the kinds of lies that people’s grandfathers tell”, you knew that something epic was about to come out of Biden’s mouth.

And that’s precisely what happened late on Tuesday, when Joe Biden spoke to CNN and said that a recession in the US is possible but that any downturn would be “very slight” (why note even “transitory”) and that the US economy is resilient enough to ride out the turbulence.

“I don’t think there will be a recession. If it is, it’ll be a very slight recession. That is, we’ll move down slightly,” Biden said sparking chaos at the Fed for blowing up their carefully planted narrative that the Fed will somehow not push the economy into a recession.

Responding to a question about his age, Biden ticked through legislative accomplishments intended to cut costs for US households, such as drug price provisions in the Inflation Reduction Act, and said they would cushion the blow of any stagnation or downturn and signaled a distrust in experts’ warnings. Of course, the reality is once again the polar opposite with real wages under the Biden administration falling for a record 17 consecutive months, inflation at a 40 year high, consumer confidence at record lows, the stock market crashing, and with 7% mortgage any home is now unaffordable to all but those who can pay cash up front for the purchase. In short, both the US economy and stock market are a total disaster. Oh, and as for Biden’s foreign policies, well there’s always World War 3 to look forward to.- READ MORE

Responses