You don't despise the media enough.
They've been gaslighting us on the economy for years now, making us think that Bidenomics was so great as we struggle to buy gas and groceries.
Yesterday's stock market crash was bad; the July jobs report was abysmal, and the jobs numbers for May and June were revised down, and unemployment shot up to 4.3%.
But here's Axios -- having learned nothing from lying about Kamala as the border czar -- saying the bad stock market doesn't mean recession is here:
The stock market slump doesn't have to mean a recession is near. https://t.co/3ldr3AexBS
— Axios (@axios) August 6, 2024
Recession is here.
They'll revise this story in three years for sure.
U.S. economic outlook has dimmed some. But the sharp stock selloff of recent days appears to have its roots in more obscure forces — and does not, in and of itself, mean a recession is looming.
Why it matters: After Monday's 3% drop, the S&P 500 is down 9% since reaching an all-time high just three weeks ago today.
Zoom in: The adjustment looks to be driven significantly by technical factors, including trades on the Japanese yen, big-company tech stocks, and low volatility reaching the end of their runs.
- None of that means the economy is in the clear. Indeed, the alarm bells sounded by the latest round of data are loud. But with Federal Reserve rate cuts incoming, there is still room to envision the economy skirting a downturn.
- The action on Wall Street, by contrast, looks like the kind of earthquake that rips through the financial markets semi-regularly as once-popular trades start to falter and traders are forced to pivot en masse.
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What a load of BS.
Remember when you got caught lying about calling Kamala the border czar?
— WhiskeySilverball (@WhiskeySlvrBall) August 6, 2024
Axios lies a lot.
They do.
Exactly what the left says during a recession
— The Dank Knight 🦇 (@capeandcowell) August 6, 2024
Exactly.
"The stock market slump doesn't have to mean a recession is near...
— 𝔻𝕠𝕔𝕥𝕠𝕣 𝔽𝕒𝕥𝕖 (@georg3) August 6, 2024
Because we want Democrats to win in November."
Remember that these journos never equivocate like this when a GOP administration is in the crosshairs. This is just about protecting Kamala from the consequences…
Things like homelessness and the stock market, and inflation will be banner headlines under a GOP administration.
Is the @JoeBiden administration going to redefine recession again?
— Matthieu “ne plus ultra” Koekkler 🇻🇦 (@koekkler) August 6, 2024
Yep.
If the other guy was in office right now this headline would have been the complete opposite of this. Axios is nothing but the propaganda arm of the DNC.
— Satanás (@smejk70030) August 6, 2024
That's all they are.
I remember this view being dominant in ‘08. The media really talked down the crisis to help the incumbent…wait. https://t.co/8lZTmWjDpc
— Scott Paterno, Just a Guy (@ScottPaterno) August 6, 2024
We remember, too.
No, things are great. https://t.co/zHMer097H5
— Stephen L. Miller (@redsteeze) August 6, 2024
Absolutely fine.
Message sent https://t.co/C9J0FIHWV8 pic.twitter.com/zAKgHCtPWs
— Sen. John Stevens (@SenJohnStevens) August 6, 2024
Message received.
Everything is just fine guys https://t.co/SYlxdEYE48
— Sean Agnew (@seanagnew) August 6, 2024
Just peachy.
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