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JUST IN – Biden's statement on the shrinking US economy: "We are on the right path." pic.twitter.com/ukQEN4YVBL
— Disclose.tv (@disclosetv) July 28, 2022
Has Joe Biden officially changed the definition of “right path”?
RT:
The US economy has shrunk for two consecutive quarters, meeting one of the criteria for a recession, official figures released on Thursday suggest.
Real gross domestic product (GDP) decreased at an annual rate of 0.9% in the second quarter of 2022, following a decline of 1.6% in the first quarter, according to a release published on the US government’s website. It notes that the data for the second quarter represents an advance estimate, and more complete data will be released in August.
The drop in GDP reflects decreases in government spending, retail trade, and other sectors, the release states.
A recession is a prolonged downturn in economic activity, most often defined as two consecutive quarters of decline in a country’s GDP. It usually produces declines in economic output, consumer demand, and leads to unemployment.
“It’s no surprise that the economy is slowing down as the Federal Reserve acts to bring down inflation,” US President Joe Biden said on Thursday, commenting on the figures.
“But even as we face historic global challenges, we are on the right path,” he added.
This comes after the US Federal Reserve delivered another 75 basis-point interest-rate hike on Wednesday and suggested more may be necessary in the coming months.
“We’re not trying to have a recession – and we don’t think we have to,” said chair of the Federal Reserve Jerome Powell.
Why would he need to explicitly say “we’re not trying to have a recession”?
Why would anyone be trying to do that?
In other news, Biden is confirmed as the Big Guy.
BREAKING: Joe Biden met with at-least 14 of Hunter Biden’s foreign business partners while he was Vice President.
This comes as Whistleblowers said the FBI tampered with politically sensitive investigations during multiple election cycles, on behalf of the Democrat Party pic.twitter.com/xp3qQaZFN7
— MissMaizeygirl 🍊 (@MMaizeygirl) July 29, 2022
Of course, he can’t really be removed, because the whole world would turn against America if the Hindu psycho Kamala Harris took control.
But now for the great news, nigga – crypto is on the way back to the top, even while interest rates are going up and the economy is collapsing.
People seemed to have figured out the deal. And the deal is: it’s time for the big win-win.
When Bitcoin collapsed a few months ago, everyone blamed it on the stock market collapse, but it was actually a result of the implosion of the Luna Ponzi scheme, which was by far the biggest Ponzi scheme ever in crypto.
This is actually totally following the path I predicted, even though I predicted it based on totally nothing.
I mean, we might go back to $20k, or whatever, but I think we’re going to start seeing higher highs and higher lows. Busting $24k after weeks of hell on earth is a big deal.
All you freak out people deserved to lose your money and I’m glad you lost your money. You should have trusted the plan.
THIS IS NOT FINANCIAL ADVICE.
BUT ACTUALLY A RATE HIKE AND AN ANNOUNCEMENT OF A RECESSION TRACKING WITH AN INCREASE IN BITCOIN’S PRICE IS REALLY GOOD.
But yeah, SMP 500 is also up, so maybe this means literally nothing.
I don’t know. I have no idea. I’m not some kind of economics expert, and I don’t even know what any of the terms mean. I’m an expert on sluts and their dastardly acts. Mostly everything beyond that is above my head.
