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Friday, September 30, 2022
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Economic Data Proves Fake News Lying About ‘Recession’

Liberal extremists have openly hoped that working Americans would have to suffer through another recession for the sole sake of claiming President Donald Trump is not succeeding. Democrats have ended the era when the country pulls together to back whichever party holds the White House and rallies for every citizen to enjoy prosperity.

So aggressive have left-wing forces been since the historic 2016 elections, that the fake news media is engaged in a false propaganda rollout that we are about to get hit with a recession. Despite claiming the economy was in free fall when the Dow Jones dipped 800 points before quickly rebounding, the fake news media continues to sidestep the basic facts about what it means to be in recession. Impartial economic experts are coming forward to support the reality that hard data proves the economy is rock solid.

“While the survey data have been steadily disappointing expectations, hard data have been a source of positive surprises,” economic research strategist Doug Peta said. “The labor market remains vibrant enough to exert downward pressure on the unemployment rate, and services continue to expand despite the contraction in manufacturing, both here and abroad. The expansion has slowed, but it’s not finished yet.”

Hard data such as consumer activity increased by 0.8 percent in July and another 0.4 percent in August. The stock markets appear to be driven by rumor and hearsay about trade deal negotiations with China. But there’s no escaping the hard fact the S&P 500 increased by 23 percent during President Trump’s first 18 months. Those gains are still on the books. The difference in recent months appears to be that slower growth is being driven by hard data rather than the excitement of Trump’s pro-business policies.

Goldman Sachs top economist Jan Hatzius recently noted that soft data drove the early economic uptick. That type of survey information has been tamped down by fake news media reports of recession, and fears stoked over the U.S.-China tariff skirmish. Hatzius says the recent hard economic data “is the inverse of what we saw in the first 18 months of the Trump presidency.” He indicates the hard measures look reliable and consistent.

Many economists have a catch-all understanding that a recession is marked by two consecutive quarters of GDP decline. That definition easily applies in growth periods when people are available for work. But the Trump economy is currently considered at full employment, meaning there are reportedly about 7 million jobs unfilled due to a qualified worker shortage. But even if we account for the fact that companies are competing over workers and there are not enough to sustain GDP growth at a high rate, Trump pushed the GDP from 2 percent in Obama and Biden’s last quarter to 3.5 percent in the fourth quarter of 2017.

After achieving incredible unemployment lows across the board and the lowest unemployment rate for African-Americans in the country’s history, the GDP has remained in positive. It has never come close to sinking into the negative under Trump. The same cannot be said of the Obama-Biden administration’s GDP.

Since the post-recession era of the late 1980s and early 1990s, former President Barack Obama didn’t just suffer back-to-back quarters of GDP retraction. Obama put working Americans through a second year of negative GDP with his liberal elitist, anti-worker policies. In 2008, the U.S. GDP lulled down to -0.1 percent and in 2009 plummeted to -2.5 percent. That face plant was the first year of Obama-Biden policies. Consider that next to President Trump’s America First agenda that posted 2.2 GDP growth in 2017, followed by 2.9 percent in 2018. These fact-based comparisons are something you won’t find in fake news articles about the phony impending recession.

Even in 2011, Obama-Biden policies hurt working Americans with a -0.1 percent retraction in the third quarter, -1.1 percent in the first quarter of 2014, and repeatedly posted growth under 1 percent. That’s a recession, and Obama did nothing but exacerbate the problems of working people.

By contrast, President Trump has forced unemployment down to 3.5 percent as of September 2019, and that marks a 50-year low. When Obama and Biden held the White House, unemployment topped 9 percent in their third year.

The Trump economy remains robust, steady, and growing at its current potential given worker shortages in key industries. The fake news media doesn’t want working people to know the facts about the hard data and future prosperity if voters stay the course in 2020.

“Even so, there are good reasons to think that output and employment will continue to expand at a trend or slightly above-trend pace, and that worries about a recession will continue to prove too pessimistic,” Goldman’s Hatzius said.

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