According to modern economics, the United States entered a recession at the start of July. The 2Q GDP, which shows -0.9%, has been released after the 1Q GDP was at -1.6%.
BREAKING: GDP fell 0.9% in the second quarter, the second straight decline and a strong recession signal https://t.co/bQT3XG1JMB
— CNBC Now (@CNBCnow) July 28, 2022
This news comes at a time when the White House is desperately trying to redefine “recession” with the help of some mainstream media outlets. The fact is that any period with at least two-quarters of negative economic growth in modern times has been declared to be a recession. Any deviation from this rule is strictly political.
US enters technical recession after contraction in second-quarter growth https://t.co/1BU4jopi0R
— Financial Times (@FT) July 28, 2022
Now that the data is publicly available, you can expect the Biden administration’s spin to ramp up. How many journalists will speak out for truth in this matter? I dare to say not many.
WARNING SIGNS: US economy shrank 0.9% in Q2, entering technical recessionhttps://t.co/YGyHeJNidp
— FOX Business (@FoxBusiness) July 28, 2022
Here is a video of the White House trying to spin the recession situation that our country is facing, but we all know the truth, we are in a recession:
Here is a video of the White House redefining what recession means: