https://www.americanthinker.com/blog/2023/01/the_media_glosses_over_the_recession_calamity_america_faces.html
Joe Biden’s media supporters keep assuring us that things are getting better with the economy. However, Joe Hoft, founder of Gateway Pundit, wrote on New Year’s Day of the reality—we are in a recession. Stop drinking the “we’re OK” Kool-Aid.
Biden, with help from the Federal Reserve and Congress, wiped out $10 trillion in American wealth in 2022. This is record-breaking destruction.
Steve Bannon at War Room rolled out a Financial Times chart from earlier in the week showing what an outlier 2022 was when compared to prior years.
The US should be in the right upper quadrant of the chart, but 2022 put the US in the left lower quadrant. The 2022 situation doesn’t even factor in the effect of the 1.7 trillion omnibus spending bill. The data point on the chart reflects the value of assets in stocks and bonds, with no effort to measure other assets like real estate. It might be worse if other economic measures are considered.
Just the other day, the St. Louis Federal Reserve Branch, relying on multiple indicators, declared that we have a recession. This information is no surprise, but it raises questions about what’s happening at the rest of the Fed’s branches.