Watch: White House resorts to 'economy doing great because it's not famine' defense
By newseditors // 2022-08-02
Copy
 
Doubling down on the Biden admin's peddling in fantasy that two quarters of economic decline does not mean a recession, White House economic adviser Brian Deese this week tried to argue that 'all is fine' since Americans by and large aren't starving. (Article by Tyler Durden republished from ZeroHedge.com) "I think that our economy is more resilient to the types of challenges that we face," Deese said. "For example, with respect to food, we're a net exporter of agricultural commodities. And obviously, the high prices are hitting Americans very hard, but in a way that is different from some places that are facing famine, for example." "But I think if you look at the core elements of economic resilience, the United States is better positioned," he added. So now the White House is actually pushing the really you're doing great because it's not famine defense while desperately attempting to squiggle around and finely parse and redefine quite basic concepts as recession. "We are in that period of transition right now," Deese had said in the Tuesday briefing, claiming further that the United States is "in a stronger position than virtually any other country in the world." ...apparently because there's no mass starvation. Deese then straight-faced repeated his talking point that "two negative quarters of GDP growth is not the technical definition of recession. It's not a definition that economists have traditionally relied on." Read more at: ZeroHedge.com
Copy