Comments by "" (@charlesvan13) on "GDP FALLS for 2nd Quarter in a Row, Recession Fears" video.

"A strong recession signal" It's the actual definition of a recession. That's like saying the consumer price index of 9.5% is a "strong inflation signal". That said, there are recessions like 1990 or 2001, with small 1% declines. Then there are recessions like 2008 with 5% gdp decline. There has already been a 2.4% decline, so this is worse that 1990. This one could get much worse, because the Democrats are determined to continue with the policies that caused it, and in addition a tax increase.
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That's what most people are saying. Because it was Biden's policies which caused this. Trump had supply side economic policies. This happened because Biden eliminated all of Trump's policies and executive orders, and replaced them with demand side keynesian economics at precisely the wrong time. We had supply side shortages, caused by supply chain problems and people not all returned to work after the shutdowns. Biden exacerbated that by dumping money in the economy in March 2021, and again in Nov 2021. That sent inflation to 9%, then the stock market crashed in 2022. Policies have to be right for the particular time. The Biden administration did this at precisely the wrong time. Trump's policies were the opposite, boost supply, through reduced business regulation, which was what was needed in 2021. The Democrats screwed the pooch. The F-ed up, and will pay the price politically.
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@takuminightcore1886 Trump actually said there would be inflation if Biden didn't quit spending and fix the supply problems. Biden's team denied that inflation would be a problem.
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Um. People aren't spending less because CNN is telling them to. They have less money because Biden stagflation has made them poorer. Paying more than double for gas, and +20% for groceries, makes people poorer.
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@noel7777noel Um...High prices are called inflation. The price of crude went from $35/barrel to over $100, thus the high gas prices. It's amazing that Biden supporters are doing this. The high prices have made the public much poorer. They're going to vote Democrats out of office.
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@noel7777noel You're just spouting bullshit. I suppose you're trolling. "People buy less from record profits is NOT called inflation" That's not even coherent. High prices IS called inflation. That's what we have now. Prices are high because Biden cut production during a high demand. Prices are determined by markets. The profits are good because the prices are high. Biden cut production, pipelines, and drilling. Thus sending the price up from lower supply, and an expectation that's going to be that way in the future because Biden is anti-oil industry. People who watch Packman don't know how capitalism works. Biden, and the Democrats, did oil exporting countries, eg Russia, Saudi Arabia, a big favor by raising the price of oil. In particular, he's funding the war in Ukraine. It's the American consumer that's being hurt. Biden has absolutely no acumen as a leader.
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@neilbradley Way to tell us you know how to copy a meme without know it meaning. That's what happens from listening to someone who's not an honest actor. Your brain is broken. I challenge you to find a single economist who will say rising prices are not inflation when the corporations are making profits.
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@noel7777noel You guys are the worst. "And record profits is NOT called inflation." Nobody asserted that. Record high prices IS inflation. We have 9.5% inflation. That oil companies make more money when oil is $100/barrel rather than when it's $35/barrel when Biden entered, is obvious. That doesn't negate inflation, which is something different. We're entering stagflation. Profits are dropping, because people have less money to spend. Thus the 2.4% gdp drop in first half of 2022.
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@Branchez17 That's just Pakman deflection and gaslighting. My whole comment was about the change in policies which caused this. Demand went up in 2021, because the lockdowns were over, while Biden was cutting goods supply, gasoline, food, etc. We were producing 13 million barrels of oil a day before the pandemic. Biden cut leases and drilling, when we were reopened. So we were only producing 12 million with increased demand. Supply shortage + high government spending , CAUSES INFLATION. You guys are the worst. It's been 18 months of total denial. But the general public has to live with the consequences of this willful ignorance. You going to get destroyed at the polls.
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@williamsn411 The Democrats are f-ck ups. "We're in a transitional period." They put us in decline, and their goal is stability, with less prosperity. But this will just get them voted out. They weren't even tactful about this. They just made things worse.
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@Branchez17 "Which combination of policies and changes were made to make this only bidens fault?" That's the gaslight. I listed the policies in previous comments. The leases are useless, when Biden isn't approving permits. They canceled all off shore permits. None of this is even difficult. The CBO has reported that it was the March 2021 spending bill that triggered inflation. Then team Biden spent 6 months saying it's "only transitory".
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