WHEN IS A RECESSION NOT A RECESSION? Bending the Truth.
If you want to understand why no one respects institutions or “elites” anymore, look no further than Janet Yellen. She went on television talk shows which are basically soapboxes for Democratic talking points and said that if the GDP numbers print negative this week, we aren’t in a recession.
She’s wrong. She knows it. Plus, she told a pretty big fib for a political spin and didn’t do it convincingly.
It undermines her credibility for anything she did as an academic and everything she does in the future. This is no different than Susan Rice’s lie on Benghazi. She is a political operative, period.
Rice is a better liar than Yellen. Yellen had the skill of a four-year-old.
Yellen abandoned any sense of objectivity when she ran the Fed. She is one of the people that politicized the position.
The definition of a recession accepted by all economists of all political and ideological stripes was 6 months of negative GDP growth. Period the end.
We live in a kakistocracy.