As predicted by everyone except the Biden administration and so-called mainstream economists, the U.S. economy gracefully squatted and took a massive dump in the first quarter of 2022.
Experts’ Expectations for Q1: “GDP will expand by 1.1%”
Experts’ “Unexpected” Discovery: “Whoopsie daisy! GDP shrank by 1.4%.”
Inescapable Conclusion: Experts’ Expertise is most questionable indeed.
“Let’s Go Brandon”: Consumer expenditures rose 2.7%, but that came amid a 7.8% increase in prices.
Q1 of 2022 was the single worst quarter for the U.S. economy since the first quarter of the pandemic-induced recession.
Most persons with a functioning prefrontal cortex are concerned about two things in the wake of Thursday’s data from the Commerce Department: a recession and ‘stagflation’ – a term that describes an economic environment of rising inflation and slowing growth.
President Biden, however, does not suffer the burden of healthy and robust gray matter in his cranial cavity.
“I’m not concerned about a recession,” Biden told reporters at a press conference at the White House.
He later claimed that the U.S. was seeing “enormous” economic growth despite Covid disruptions.
“I think we’re—what you’re seeing is enormous growth in the country that was affected by everything from Covid and the Covid blockages that occurred along the way,” Biden said. “Now, you always have to be, take a look and, no one is predicting a recession now. They’re predicting there—some are predicting there may be a recession in 2023. I’m concerned about it.”
So what you have there is a situation in which Biden boasted that he’s “not concerned about a recession,” and then less than a minute later said that he IS in fact “concerned about it.” This type of mixed messaging occurs on occasion when morons are allowed to speak.
But hang on there, Brandon: Deutsche Bank economists said in a report Tuesday that a “major recession” is coming.
So yeah, the President (God, please have mercy on our souls) should definitely worry. He should worry a whole lot.
Hammer and Nigel have more clips of economists indirectly calling the President a buffoon in the clip below.