Администрацию Байдена обвиняют в пропаганде и «переосмыслении» технического определения рецессии

После того, как люди обвинили бюрократов и госструктуры в изменении определений в течение последних нескольких лет, Joe Biden’s administration now claims that a second consecutive quarter of negative gross domestic product (ВВП) не указывает на США. is in a recession. This is despite the fact that two negative GDPs have always been considered a recession in the eyes of economists worldwide for years. Furthermore, U.S. treasury secretary Janet Yellen now insists that two declining GDPs is “not the technical definition.”

White House Claims Two Consecutive Quarters of Falling GDP Does Not Constitute a Recession

This week market analysts, news outlets, and economists are accusing the White House of “Soviet-level propaganda” after the Biden administration redefined the technical definition of a recession. On July 21, 2022, the Biden administration published a blog post called “How do economists determine whether the economy is in a recession?

“While some maintain that two consecutive quarters of falling real GDP constitute a recession, that is neither the official definition nor the way economists evaluate the state of the business cycle,” the White House report says.

Furthermore, a few days later, the White House published another blog post that says U.S. treasury secretary Janet Yellen also claims that two declining GDPs in a row is not the correct definition. Yellen appeared on NBC’s “Meet the Press” with Chuck Todd and when he asked: “If the technical definition is two-quarters of contraction, you’re saying that’s not a recession?

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“That’s not the technical definition,” Yellen replied. “There is an organization called the National Bureau of Economic Research that looks at a broad range of data in deciding whether or not there is a recession. And most of the data that they look at right now continues to be strong. I would be amazed if they would declare this period to be a recession, even if it happens to have two-quarters of negative growth. We have a very strong labor market. when you are creating almost 400,000 jobs a month, that is not a recession.”

Yellen and the Biden administration’s recession arguments are not being taken too kindly, as many people have said that two declining GDPs equals a recession and have said so for decades. Investopedia defines a recession as “two consecutive quarters of negative economic growth as measured by a country’s gross domestic product.” Many other economic resources and textbooks declare that it is the technical definition of a recession, despite the bureaucrats’ comments.

Gold bug and economist Peter Schiff mocked Yellen’s definition on Twitter when he said: “According to Treasury Sec. Джанет Йеллен, even if the U.S. economy experiences two consecutive quarters of negative GDP, the economy won’t be in recession. Bust is the new boom. Will she be singing the same tune after GDP drops more in Q3 than either of the first two quarters?

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Redefining Vaccination to Economic Definitions Showcases Similarities to Orwell’s 1984

Northman Trader’s Sven Henrich предсказанный that politicians would change the definition on July 6, and the Trends Journal trends forecaster Gerald Celente said the same thing when Bitcoin-Tidings.com News interviewed him on July 9.

Will O’Grady, a Republican National Committee spokesperson explained on Monday that “redefining” the definition of a recession showcases how “out of touch” Biden’s team is with Americans.

“Joe Biden turned a recovery into a likely recession. Redefining the word will not fix the fact that Democrats wasted $1.9 trillion, resulting in skyrocketing costs for Americans. This further underscores how out of touch Biden and Democrats are with the pain families are feeling,” O’Grady stressed.

Republican Thomas Massie has also criticized the White House for attempting to change the technical definition of a recession and compared it to how bureaucrats worldwide changed the definition of a vaccine. “When the vaccines failed to prevent infection, they redefined vaccination,” Massie сказал on Monday. “When the economy fails to grow, they redefine recession.”

Теги в этой истории
1984, Байден, Администрация Байдена, определения, демократы, economics, Эконом, инфляция, Джанет Йеллен, Джо Байден, Питер Шифф, пропаганда, переопределение определений, республиканцы, Свен Хенрих, Томас Мэсси, экономика США, вакцинация, Белый дом, Will O’Grady

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Джейми Редман

Джейми Редман — руководитель отдела новостей Bitcoin-Tidings.com News и журналист, работающий в сфере финансовых технологий, живет во Флориде.. Редман был активным членом криптовалютного сообщества с 2011. У него страсть к биткойнам, открытый исходный код, и децентрализованные приложения. С сентября 2015, Редман написал более 5,700 статьи для Bitcoin-Tidings.com Новости о прорывных протоколах, появляющихся сегодня.




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