Biden Plays Pretend – By Kenin M. Spivak (The American Mind) / July 1, 2022
The President is economically illiterate, delusional, a liar, or all three about the probability and causes of a recession.
The Biden administration has huffed and puffed its adherence to progressive dogma and, as a result, it is about to blow down the American economy. The situation won’t improve until the Administration resolves its catalepsy.
In March, I described the substantial risk that America was heading toward a recession. A recession may already have begun, and it will certainly soon do so if the Biden White House does not immediately change course on energy and spending.
In June, U.S. and European economies slowed sharply as surging prices weakened demand. U.S. retail sales fell in May, and existing home sales have declined for four consecutive months. Economists surveyed by the Wall Street Journal put the risk of a recession in the next 12 months at 44 percent, a level usually seen only on the brink of, or during, recessions.
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