Recession Gaslighting
Lies, Lies and more Lies is what we get when we have a bunch of incompetent puppets running global economies.
We have seen how obfuscation and shifting goal posts is the commies (sorry, I mean liberals) default response to any logical debate as they are adept at avoiding responsibility.
In light of this, are we then surprised of another gaslighting operation when the Biden’s administration has repeatedly proven their lack of integrity in explaining the cause of rising inflation?
This is all comes to the fore as we anticipate a flood of economic data this week:
Yesterday we had the FOMC Meeting and Microsoft, Google, VISA earnings
Today we have the FOMC rate decision (Expected .0.75%rate cuts) and Meta, Spotify, Barclays earnings.
Tomorrow we have we US Q2 GDP (Expected. negative) and Apple, Intel, Mastercard, Amazon, Pfizer earnings.
Friday we have ExxonMobil, P&G, Chevron earnings.
On cue, we witness another attempt at gaslighting by changing the definition of what a recession is in anticipation of negative economic numbers that will be released tomorrow.
In essence, what they are telling the public is “what you see is not real and not there, move along.”
Even as Pierre-Olivier Gourinchas, one of the IMF’s top economists, ominously warned in an interview with the FT that it the economic climate is one that tests the “mettle” of central banks around the world to continue raising interest rates in a bid to restore price stability as the economy is slowing. He went on to say,
“We are in a very critical moment here,” he said. “It’s easy to cool off the economy when the economy is running hot. It’s much harder to reduce inflation when the economy is close to a recession.”
“The outlook has darkened significantly since April. The world may soon be teetering on the edge of a global recession, only two years after the last one,”
Once adjusted for inflation, “real” GDP growth in the US of only 0.6% on a year-over-year basis is expected in the fourth quarter of 2023. “It doesn’t take much to knock the economy off into something that you might call a technical recession”
Of course, the Biden administration knows this and went into full mode crisis mitigation to manufacture consent and change the narrative. Remember, mid terms are coming in November with a projected Republican domination of the polls.
So they have to please and obfuscate the plebs on said truth.
The IMF has also slashed its global growth forecasts for the third quarter in a row, while raising its projections for inflation (i.e., stagflation is here), warning that the risks to the economic outlook are "overwhelmingly tilted to the downside" and that the world "may soon be teetering on the edge" of recession.
As for the US, the IMF cut its projection by 1.4 percentage points relative to the April estimate to 2.3% because of lower growth earlier this year, reduced household purchasing power and tighter monetary policy. The forecast for 0.6% growth in the fourth quarter of 2023 on a year-over-year basis “will make it increasingly challenging to avoid a recession,” according to the IMF.
According to Tom Luongo via Gold, Goats and Guns blog,
What’s already begun is a series of headlines to manufacture consent that the Democrats’ chief rival, Powell and the Fed, are to blame for this ‘not-a-recession’ and not the O’Biden policies and the trillions of spending they unleashed.
Just like our governments lie about the real CPI & inflation numbers, they lie about the definition of a recession. If the definition changes, reality is always an illusory moving target.
The old definition:
The new one:
This is not their first rodeo so no surprise here.
We see how language and logos has been weaponized to adhere to nefarious agendas and narratives..
Governments are in the business of changing definitions to fit their narratives. They’re not here to solve peoples problems, they’re here to create more problems for people.
The definition of a 'vaccine' before and after..
The US regime, under Bush Jr., literally changed the definition of torture so that it could commit heinous crimes.
Lets be clear that changing the definition of recession (in todays context) does not make it any less deadly or disastrous. #EndtheFed
It just shows us the length the ruling class would go to gaslight/obfuscate the truth, highlighting how they are a bunch of sociopaths experiencing schadenfreude on the public.
Finally, like I have been drumming up all week, the current global governance structure is NOT in place to advocate or protect the public’s interests.
They would rather we conform, be subjugated, wear our masks, shut up, and be grateful to be ruled by an unproductive and incompetent ruling class.
An alternative to this system is desperately needed.
See you tomorrow!
- Ope