July 30, 2022

Biden press secretary on the recession: “We are in a *transition*”

When is a recession NOT a recession?

Take your time answering this one.  We wouldn't want any hasty answers, eh?

Until last Thursday the rule was that if the U.S. had two consecutive quarters of falling GDP, that was a recession.  The U.K. and most other nations agreed on this definition.

But Thursday, after the U.S. GDP was reported to have fallen for two consecutive quarters, the White House sprang into action, re-defining the defintion to junk the long-accepted "2 consecutive quarters" definition, and substituting the verdict of a board months after the fact.

This of course made it impossible to determine whether we were in a recession for five or six months after it started.  That was the time it took for the NBER board of "experts" to vote on if and when a recession had started.

Not surprisingly, the  Lying Mainstream Media also sprang into action, agreeing that the long-accepted "two consecutive quarters of GDP shrinkage" was no longer accurate.  So they agreed with the regime that the time-honored definition was no long "operative."  They changed the definition--cuz they're determined that the Democrats retain control of both chambers of congress in November. 

This resulted in a very amusing exchange between the black lesbian and a white house pool reporter:  The press secretary said she simply was NOT gonna quibble about the definition of a "recession."  So they'll just ignore it and trust that the Mainstream Media and social media will make the controversy vanish.

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