*Financial crash warning: 'Next #Recession to hit much earlier than expected'Top Economist
*ECONOMIC cycles have sped up meaning a RECESSION may come sooner than expected with #Chinese BONDS a possible safe haven
— Boncryp XRP (@boncryp) December 14, 2021
With inflation at a 20-year high, surging grocery prices, labour shortages, and skyrocketing housing prices, this government thinks everything is fine.t.co/jKFxOZ15Xb
— Erin O'Toole (@erinotoole) December 13, 2021
Will the next US recession occur by 2024?
— ISABELNET (@ISABELNET_SA) December 13, 2021
QUESTION ASKED: Why won’t the White House take inflation seriously?
Rather than actually tackling inflation, officials are more interested in explaining why those prices aren’t the full story. Biden chief of staff Ron Klain decided that the best response was a flip chart explaining that everything was actually great. It is one thing to tout your economic achievements, it is another to deny the existence of any problems. On inflation, the White House too often finds itself telling voters not to believe their lying eyes.
To some economists, frustration among Americans at the state of the economy is a head-scratcher. GDP is surging, why aren’t people feeling better, they ask themselves.
But as the New York Times’s David Leonhardt explained on Friday, this really isn’t as much of a paradox as these economists seem to think. In his blunt assessment, “Americans think the economy is in rough shape because the economy is in rough shape.”
As Obama economic adviser Jason Furman told the Washington Post recently, “The typical family is spending an extra $4,000 this year because of excess inflation. It does not seem like much of a mystery why people are upset when they have to spend thousands of additional dollars more because of inflation.”