Posted on by Californiacontrarian

Gaslighting by J.B. & the K

While J.B. and Kamala are attempting to gaslight Americans by telling them that the economy is really okay, there are certain stats that do not predict a good ending for J.B.’s “non-recession” economy.

From BlazeMedia:

CEOs everywhere are bracing for an economic recession. Economists at S&P Global Ratings predicted a 2.4% decline in the gross domestic product (GDP) by the end of the year. The Department of Labor reported that 244,000 people filed for unemployment last week, the highest number of applicants in eight months.”

Here are a few of companies that J.B has apparently not heard about.

“Slowing business growth and economic recession fears are forcing corporations to find cost-cutting solutions. As a result, the summer of 2022 has become the season of massive nationwide job cuts.

Robinhood, a California-based financial service company, is the latest organization to announce staff cuts. On Tuesday, Robinhood reported that it would be slashing an additional 23% of its workforce. In April, the company laid off 9% of its staff.

Oracle, a computer technology firm, has also started laying off staff on its marketing, sales, and customer experience teams. While Oracle has not reported the total number of staff it plans to let go, the Independent speculated that it could be thousands.

Shopify was another big name that reduced its workforce. In July, the company dropped 10% of its staff.

Very recent news:

Ford partners with major Chinese company to meet electric vehicle production goals, will reportedly cut up to 8,000 jobs.

Carvana was one of the first companies this summer to reduce its staff. The online car retailer laid off 12% of its workers in May. Tesla followed in July by removing 229 employees from its team.

However, while both J.B and Kamala referenced the latest Bureau of Labor Statistics  report which released the July jobs report– which massively surpassed expectations. Total nonfarm payroll employment increased by 528,000 in July, when it was forecast to add 250,000 jobs., not all agreed that all of the economic news was good.

Still from BlazeMedia:

Charles Payne and others poured cold water on President Biden’s “booming” jobs report.

Payne noticed that “black Americans are sinking in the midst of the jobs boom.” In July, there were 39,000 fewer black Americans in the labor force and 68,000 fewer black Americans employed.

Citing Household Survey Data from the Bureau of Labor Statistics, Payne noted that full-time jobs dropped by 71,000, while part-time jobs increased by 384,000, and people who held multiple jobs rose by 92,000.

The report also found that there were 279,000 fewer people who were self-employed.

Many people suggest that the surge in part-time jobs and people getting multiple jobs is because they are facing soaring inflation month after month. In July, inflation hit 9.1% – the highest in more than 40 years. 

I will predict that the gaslighting will continue until the economy shrinks for the third quarter in a row, and as Charles Payne points out, the job stats reflect what is happening because of Biden’s inflation.

8/10/22

californiacontrarian

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