Thanks to brutal inflation and equally brutal interest rates brought on by brutally stupid Biden-Harris economic policies, 59 percent of Americans believe this country is in a recession.
And thanks to the fact that there is a Democrat in the White House, CNBC is working very hard to tell that 59 percent they are wrong.
“The U.S. economy has remained remarkably strong even amid persistent inflation and high interest rates,” writes CNBC. “And yet, 59% of Americans falsely believe that the U.S. is currently in a recession, according to a recent survey of 2,000 adults[.]”
“Citing higher costs and difficulty making ends meet, most respondents said they think a recession started roughly 15 months ago,” the report continues, “ and could last until July 2025[.]”
It’s fine to claim we are not in recession, but to claim the economy has remained remarkably strong when the first quarter GDP grew at just 1.3 percent is a little ridiculous. We have been told the second quarter of 2024 grew by 2.8 percent, but that could be revised to be lower in September.
The problem for this 59 percent is that they are experiencing a personal recession. What the hell good is a 2.8 percent GDP to them when gas costs close to $3.50 a gallon and accumulated inflation has exploded the cost of groceries by more than 25 percent?
Then there’s the cost of housing, which has hit a record high.
That’s the big three right there: housing, energy, and food. If you’re an everyday working person, that’s the pain you feel every day. And that pain is real. Shopping for groceries is demoralizing. Filling your gas tank is depressing. How does the GDP or the stock market relieve that pain? Trust me, it doesn’t.
And for the media to dismiss the way nearly 60 percent of people feel with all this happy talk about the economy is really something. Don’t you get it? It’s a “vibecession,” y’all:
We’re in a “vibecession,” Joyce Chang, JPMorgan’s chair of global research, said at the CNBC Financial Advisor Summit in May.
Over the last few years “the wealth creation was concentrated amongst homeowners and upper-income brackets,” Chang said, “but you probably have about one-third of the population that’s been left out of that — that’s why there’s such a disconnect.”
One-third? CNBC’s own poll says 59 percent.
Wages cannot keep up with this inflation.
People are taking on record credit card debt.
I’m 58 years old, and this is the worst economy I can remember living through.
And don’t forget the impact on our economy after Joe Biden and Kamala Harris opened our southern border. Millions and millions of illegals are competing with legal citizens and immigrants for housing and jobs. Of course, that increases housing. Of course, that drives down wages. It also increases the cost of everything — energy, food, etc. — because the more people who want something, the more expensive it is.
Some 22 million people should not even be here competing with us. It’s illegal and immoral.
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John Nolte’s first and last novel, Borrowed Time, is winning five-star raves from everyday readers. You can read an excerpt here and an in-depth review here. Also available in hardcover and on Kindle and Audiobook.