Posted on by Californiacontrarian

Recession ?

Are we in a recession?

Joe Biden says ‘no.’ Is he gaslighting?

From Breitbart Business Digest:

Leafing economic indicators underperformed yet again compared to already weak expectations. The Conference Board Leading Economic Index (LEI) fell 0.8 percent in October against the expected 0.4 percent drop predicted by economists polled by theWall Street Journal. These indexes are down for the eighth straight month and -3.2 percent over a six-month window; the LEI had risen 0.5 percent the six months prior, further suggesting that we are on a significant cold streak.

One of the better past predictors of a coming recession has been a reversal of the two year and the ten year U.S. Treasury yield curves

The 2-year and 10-year U.S. Treasury yield curves inverted on 11/17, and have remained that way. The inversion is the largest in 40 years.

Home sales are yet another indicator that is headed in the wrong direction. Bank of America highlighteda massive drop in pending home sales as well as huge dives in lumber and global freight rates.

Continuing from Breitbart:

“If all of this sounds very recession-y, that’s because it is.”

In addition on 11/18/22 Joe Biden said that he anticipates “setbacks”ahead for the U.S. economy, but then he went on to say that grocery store prices are down slightly. 

Gaslighting, again? Err … no, actually lying, as they are actually up 12.4 percent from last year.

11/21/22

132 Replies to “Recession ?”

  1. We have been in recession for months now as evidenced by Joe’s declining poll numbers and functioning brain cells.

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