Recession

Entrepreneur and business magnate Elon Musk, the CEO of Tesla and SpaceX, said the "obvious reason" for inflation in the United States is that the federal government printed way too much money that it did not have to stimulate the economy, which increased demand but supply (goods and services) could not keep up -- thus, the prices went up. 

It’s the Roaring ‘20s once more. That’s what The New York Times claimed as high gas prices, 40-year record inflation and a border crisis dominate the lives of ordinary Americans. 

A guest economist on Fox News host Laura Ingraham’s show tore apart the Federal Reserve for hiking interest rates while gaslighting Americans on the economy.

The contraction of the U.S. economy as reflected by the first quarter GDP decline brought out the use of the U-word, "unexpectedly," by the media.

On Thursday the Bureau of Economic Analysis (BEA) reported that the United States’ Gross Domestic Product contracted 1.4 percent in the first quarter of 2022, a full 2.4 percent off from economists' expectations. 

CNN’s Matt Egan spun himself into a whirlpool of insanity trying to downplay bad economic growth. The Bureau of Economic Analysis (BEA) reported that Gross Domestic Product contracted 1.4 percent in Q1, which was the complete opposite of economists who estimated a 1 percent increase, a 2.4 percentage point miss. 

Americans woke up Thursday morning to an economy that contracted in the first quarter. The ABC, CBS and NBC morning news shows ignored the story.

The newspaper owned by the second richest man in the world actually claimed that the Internal Revenue Service needs— wait for it — more money. The Washington Post Editorial Board published an extraordinarily tone-deaf piece the day before Tax Day 2022 headlined, “The IRS urgently needs more money and staff.”

A high-profile liberal economist, and reported Hillary Clinton donor, said that the chances of recession in the U.S. are looking increasingly more likely, according to CNN. Moody Analytics Chief Economist Mark Zandi reportedly said that the “US economy has at least a one-in-three chance of sinking into a recession over the next 12 months,” CNN Business summarized.

New York Times economist Paul Krugman seems to be a glutton for punishment to his already pathetic track record of atrocious economic predictions. Krugman is back trying to gaslight Americans over the 40-year high inflation crisis — again — in an op-ed headlined, “How High Inflation Will Come Down.”

Economist Lawrence Summers tore into President Joe Biden for redirecting the blame for America’s inflation crisis. Summers, Obama’s former National Economic Council director, said Biden was flat-out “wrong” to blame inflation on Russia’s invasion of Ukraine during a March 11 segment on Bloomberg TV’s Wall Street Week.

CNBC’s on-air editor Rick Santelli has had it with the Biden administration’s gaslighting on the skyrocketing inflation plaguing the U.S. economy. The Bureau of Labor Statistics released a report March 10 showing that inflation shot up 7.9 percent on a year-to-year basis in February for the highest level in more than 40 years and slightly beat expectations.

The ABC, CBS and NBC evening news shows buried a report showing that most Americans currently live paycheck to paycheck as the cost of living continues to skyrocket. Fintech marketplace bank LendingClub released a report March 3, which stated that “[t]he number of consumers living paycheck to paycheck has increased steadily since April 2021 and was 64% in January 2022 – 12 percentage points…

CNN went all out to hype a small decrease in gas prices in December as a sign of better days. Now that gas prices have skyrocketed, the network’s twisted coverage deserves revisiting.