The United States is in a recession regardless of if Joe Biden and his administration want to identify it as such.
Our economy shrank for a second straight quarter by an annualized rate of 0.9%. And despite the desperate attempts to redefine the r-word by the White House, growth is indisputably on the downward trend.
“The decrease in real GDP reflected decreases in private inventory investment, residential fixed investment, federal government spending, state and local government spending, and nonresidential fixed investment that were partly offset by increases in exports and personal consumption expenditures (PCE),” the U.S. Bureau of Economic Analysis explained.
“Imports, which are a subtraction in the calculation of GDP, increased,” they reported.
Brian Deese, yesterday: “Two negative quarters of