Remember when the government, Joe Biden, Janet Yellen and Jerome Powell used to tell us that inflation was transitory? We all know how that story turned out. We were in the midst of the worst inflationary period in 41 years and those clowns were telling us the higher prices we were all paying would evaporate in a week or two. Or month or year or four. Click here to view when Powell finally admitted ‘transitory’ was the wrong verbiage.

Fast forward to today when the second quarter GDP numbers were just released this morning and of course, both you and I know they were going to be negative. What is a recession? A period of temporary economic decline during which trade and industrial activity are reduced, generally identified by a fall in GDP in two successive quarters.

The commerce department announced Thursday that gross domestic product (GDP) – a broad measure of the price of goods and services – decreased at an annual rate of 0.9% in the second quarter after falling at an annual rate of 1.6% in the first three months.

The fact that the negative number, just 0.9%, is so low confirms the fact IMHO that the ‘powers that be’ tried so hard to fudge those numbers but whatever they chose to do, they just couldn’t get a positive number. Based on that fact, the GDP number is probably worse than what they posted. And of course, Joe Biden and the media are refusing to use the word ‘recession‘ but by golly, you and I both know that we are in a recession and the government can go ***ck itself!

Why this administration continues to gaslight us and consistantly lie clearly shows that they are fooling no one but themselves. And now on top of all this negative news, we find out that Joe Manchin, the last hold out to normalcy, has just given up and thrown in his towel and joined the rest of the Democrats who will be passing a bill that will bring taxation upon ALL of us (please don’t believe they will be taxing only the rich because last I looked, the rich were evaporating faster than the middle classes). Click here for more info. I can only imagine that whatever the threat Chuck Schumer had over Manchin to get Joe to change his mind must have been gory.

So there you have it folks. We’re in a recession. Climate change is going to be forced down our throats. We’re going to be poorer than we ever were before. Our standard of living has already come down. It won’t be long before we’re all on our knees wishing we were either dead or in some sort of Twilight Zone. A full throttle depression is right around the corner. Trust me. We ain’t seen nothing yet.

No body is spending money un-necessarily. Most everyone we know is just buying essentials or simply doing without. When an economy, such as America’s is based primarily on consumer spending, what do you think will happen when the consumer stops spending? Layoffs and hiring freezes. And they are already under way. For a full list of layoffs, click here. List updated daily.

Tech companies, such as Google, Microsoft, Apple, FaceBook, Shopify have already started letting employees go. Other big named corporations have started giving their workforce the axe:

  1. Ford fired over 8000 employees
  2. Invitae got rid of 1000
  3. Loan Depot laid off 2000 workers
  4. Peloton fired 2000
  5. Twitter laid off 30% of their workforce
  6. Tesla laid off 10% of their workforce
  7. Netflix let go of 300 workers
  8. CVS let go of 208 employees

Where will all these recently fired workers go? Will all of them find another job? Many of them will be stuck on the unemployment insurance lines, which means more government payouts from a government that is so deeply in debt it would make your hair stand up straight and scream if you calculated the truth!! Use your own brain. Use your own common sense. Where is all of this going to leave us? What’s going to become of us? What kind of a future will you, our children and I going to have? We’re all caught up in a calamity of errors and a country of chaos with an administration at the helm that is hell bent on passing an agenda that defies common sense. Ford and Tesla laying off workers while we are supposed to be in the midst of going forward in our new Electric Vehicles doesn’t cast a whole lot of confidence, now does it?

The American economy has always been its strongest when both car sales and home sales were in full throttle. How are both those categories doing now? Almost no one is buying a car. Practically no one can afford those new EV cars either. And now with the rising interest rates, getting a car loan or a mortgage is going to be more costly. When translated, that means very few people will be buying.

Cars: The annual selling rate is expected to decline to 13.2 million vehicles in June from 15.4 million a year earlier, according to the average forecast of eight market researchers. Prior to the pandemic, annual US auto sales topped 17 million vehicles for five consecutive years from 2015 to 2019. Dated: Jun 30, 2022.

Homes: Existing-home sales are down 5.4 percent compared with May, according to data released Wednesday by the National Association of Realtors, marking a fifth straight month of declines. But they’ve tumbled 14.2 percent compared with June 2021. Dated: Jul 20, 2022.

Bread lines are back as people can no longer afford to buy food thanks to inflation
Does this bread line photo from The Great Depression remind you of 2022?

This isn’t my first recession and I am certain it will not be my last. Just make a mental note that next time the American economy flourishes, stack away as much money as possible. Also, I have learned throughout the years that the best way to survive a recession is to make yourself as small as possible. Small life means smaller bills. In 2001 I downsized from a 9 room home to a 4 room home. Living mortgage and debt free is a goal that may take a long time to accomplish but so very worth it. You really can not carry any consumer debt because in the end, it just tares you down. Oftentimes, into insolvency. No credit card revolving credit lines. No car loans. No student loans (go to a technical school instead. Plumbers, electricians and welders earn way more than any lawyer, doctor or white-collar professional). It’s NOT an easy lifestyle but as you enter a recession, you will quickly learn it’s the best place to be.

Trust your guts. Trust your common sense. If it looks like a duck, if it waddles like a duck, if it quacks like a duck, it’s a recession. And with the recession a possible depression isn’t too far away.

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