Panic Mode: Axios Insists ‘There Is No Recession’ & ‘Economy in Good Shape’

byCaptain Frank Sparrow -
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[Collection]Jamie WhiteLiberal outlet ruthlessly mocked for shamelessly running cover for Biden's failed 'Bidenomics' policies.

Liberal news outlet Axios was ruthlessly mocked on social media after asserting that “there is no recession” in America because the “economy is in good shape.”

In a Thursday article titled, “More than half of Americans think the U.S. is in a recession. It’s not.“, Axios made the case that the American economy is in “good shape” despite data points suggesting the opposite.

“The economy is actually in good shape and there’s no recession. But misperceptions like this are a huge political challenge for President Biden and an advantage for former President Trump as they vie for second terms,” the outlet reported.

The outlet went on to claim that everything is hunky dory because the economy grew by 1.4% (as measured by GDP) so far 2024 and the stock market is up on the year, but Americans remain pessimistic about the economy due to inflation and the rising cost of living.

It looks like inflation and the higher cost of living — indicators not typically part of the recession call by the NBER — could be shaping Americans’ views.

70% of Americans said that cost of living is their biggest economic concern, followed by inflation at 68%.

Two-thirds of Americans, including 65% of Democrats, report it’s difficult to be happy about positive economic news when they feel financially squeezed each month.

While the rate of inflation has slowed since its 2022 highs, it is still higher than most Americans are used to — and prices are up a great deal from 2019.

But there are other underlying reasons behind Americans’ sour view of the economy under Biden that Axios failed to mention.

Household net worth remained stagnant during Biden’s term when adjusted for inflation, growing by only 0.07% compared to 16% during Trump’s first 3 years.

Part of that could be because households are spending an extra $11,400 annually to afford basic necessities due to inflation.

For example, grocery costs are up an average of 25% since 2019 and credit card debt hit a record high this month, surpassing the previous high of $1.13 trillion.

Axios’ gaslighting attempt was roundly mocked on X.

Follow Jamie White on X | Truth | Gab | Gettr | Minds

Liberal outlet ruthlessly mocked for shamelessly running cover for Biden's failed 'Bidenomics' policies.

Liberal news outlet Axios was ruthlessly mocked on social media after asserting that “there is no recession” in America because the “economy is in good shape.”

In a Thursday article titled, “More than half of Americans think the U.S. is in a recession. It’s not.“, Axios made the case that the American economy is in “good shape” despite data points suggesting the opposite.

“The economy is actually in good shape and there’s no recession. But misperceptions like this are a huge political challenge for President Biden and an advantage for former President Trump as they vie for second terms,” the outlet reported.

The outlet went on to claim that everything is hunky dory because the economy grew by 1.4% (as measured by GDP) so far 2024 and the stock market is up on the year, but Americans remain pessimistic about the economy due to inflation and the rising cost of living.

It looks like inflation and the higher cost of living — indicators not typically part of the recession call by the NBER — could be shaping Americans’ views.

70% of Americans said that cost of living is their biggest economic concern, followed by inflation at 68%.

Two-thirds of Americans, including 65% of Democrats, report it’s difficult to be happy about positive economic news when they feel financially squeezed each month.

While the rate of inflation has slowed since its 2022 highs, it is still higher than most Americans are used to — and prices are up a great deal from 2019.

But there are other underlying reasons behind Americans’ sour view of the economy under Biden that Axios failed to mention.

Household net worth remained stagnant during Biden’s term when adjusted for inflation, growing by only 0.07% compared to 16% during Trump’s first 3 years.

Part of that could be because households are spending an extra $11,400 annually to afford basic necessities due to inflation.

For example, grocery costs are up an average of 25% since 2019 and credit card debt hit a record high this month, surpassing the previous high of $1.13 trillion.

Axios’ gaslighting attempt was roundly mocked on X.

Follow Jamie White on X | Truth | Gab | Gettr | Minds

https://www.infowars.com/posts/panic-mode-axios-insists-there-is-no-recession-economy-in-good-shape2024-05-25T15:40:20.000Z2024-05-25T15:40:20.000Z

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