Sponsored Content

Intermarkets' Privacy Policy

Donate to Ace of Spades HQ!

Recent Entries
Absent Friends
westminsterdogshow 2023
Ann Wilson(Empire1) 2022
Dave In Texas 2022
Jesse in D.C. 2022
OregonMuse 2022
redc1c4 2021
Tami 2021
Chavez the Hugo 2020
Ibguy 2020
Rickl 2019
Joffen 2014
AoSHQ Writers Group
A site for members of the Horde to post their stories seeking beta readers, editing help, brainstorming, and story ideas. Also to share links to potential publishing outlets, writing help sites, and videos posting tips to get published. Contact OrangeEnt for info
Cutting The Cord And Email Security
Moron Meet-Ups

Extremely Vapid and Unprepared Woman Desperately Seeks a Lifeline and Begs a Stronger, More Capable Man to Bail Her Out and Speak First | Main | NBD, But Expect Giant Alien Spiders to Begin Raining From the Sky Like a Plague This Spring
March 11, 2022

Former Chairman of the Council of Economic Advisors: "We Now Believe the Chances of a Recession, Starting in the Second Quarter of 2022, Have Risen to 60%"

OUT: Barack Obama's third term.

IN: Jimmy Carter's second term.

The Former Chairman of the Council of Economic Advisors told Maria Bartiromo that he thinks the GDP for the first quarter is going to come in at near zero or just below it, which sets up the likelihood of meeting the definition of "two quarters of zero or negative grown in a row" of a recession in the second quarter.

So we're looking down both barrels, one barrel loaded with "recession and contraction," the other loaded with "skyrocketing inflation."

Should be fun.

Former Chairman of the Council of Economic Advisers Kevin Hassett warned on Thursday that inflation is "out of control" at a time when the economy "is headed towards a recession."


Hassett noted on Thursday, shortly after the release of the [new report on a record 7.9% year-over-year inflation], that "wages aren't keeping up with prices," which means "real incomes are going down."

He warned that the next CPI report will reflect "way worse" data.

"The really, really big price spikes started to happen in March," Hassett told host Maria Bartiromo on Thursday.

Ukraine is a leading exporter of corn. They plainly will not have much, if any, of an export harvest next year. They're also huge exporters of wheat; Russia and Ukraine together produce one third of the world's wheat.

The disruption in two absolute bedrock commodities will convulse the global economy.

Hassett went on to point out that "all that kind of stuff is going to make the March number way, way worse" than the February data.

"The Fed hasn't even started tightening yet and we've got this runaway inflation and a weakening economy," he said, adding that he believes "first quarter GDP [gross domestic product] is looking like it's going to be negative."

A recession refers to a contraction in GDP activity, or economic output, for two consecutive quarters.

Hassett argued that one reason why he believes "the odds of recession are getting above 50%, is that you got a couple negative quarters in a row, then you 're in a recession and the first quarter is low enough right now, in the real-time data that we have, that it's plausibly negative or at least really close to zero and so that's like the first half of the start of a recession."

As he mentioned, the Fed is considering raising interest rates to combat Brandon's runway inflation which will reduce whatever growth the economy is managing.

Brandon has left us with nothing but terrible choices. And I'm pretty sure he'll wind up choosing all terrible choices simultaneously.

Well-played, NeverTrump.

And all so you could crawl your way back to influence and TV gigs! My, what statesmen and patriots you all are!

Update: Biden is "sick" of economists claiming that inflation is caused by an increase in the supply of money chasing a static amount of goods. That's Voodoo Economics!

Hey, Brandon -- Start pressuring your illegal, captive Social Media Monopolies to censor and deplatform anyone spreading the Russian Disinformation that the value of money is determined, as the value of all things are, by the iron law of supply and demand.

Maybe get National Review to start writing Editorials supporting this newest censorship campaign ordered up by the government.

If you're claiming Brandon's repeated rounds of trillion plus "stimulus" had anything to do with devaluing the dollar, You're Driving With Putin!

Speaking of, is anyone at National Review ever going to condemn their fellow neocon-turned-Democrat Bill Kristol for constantly conspiring with the left to get the right deplatformed?

Screenshot (1724).png

Or does National Review only police the right now?

digg this
posted by Ace at 03:30 PM

| Access Comments

Recent Comments
Alberta Oil Peon: "Buddy of mine was working customs years ago in a N ..."

RedMindBlueState[/i][/b][/s][/u]: "[i]OK, guys and gals. Thanks for tuning in tonight ..."

whig: "Okay, weasel, bypassed the food thread. Good luck ..."

whig: "4) Kleenbore Lead Away cloth can remove the blacke ..."

Karavan : "Six Days of War," by Michael Oren. The first-third ..."

Rufus T. Firefly: "See you next Sunday! Posted by: Weasel Thank ..."

Diogenes: "Thanxs Weasel! ..."

Itinerant Alley Butcher: "> I don't understand why the homeowner is in cuffs ..."

Diogenes: "I put a post this morning on the book thread, but ..."

Iris: "*** I read this too quickly the first time throug ..."

whig: "3) for touchup spots where the bluing is rubbed of ..."

whig: "2) a COPPER, not the cruddy newer zinc pennies can ..."

Recent Entries

Polls! Polls! Polls!
Frequently Asked Questions
The (Almost) Complete Paul Anka Integrity Kick
Top Top Tens
Greatest Hitjobs

The Ace of Spades HQ Sex-for-Money Skankathon
A D&D Guide to the Democratic Candidates
Margaret Cho: Just Not Funny
More Margaret Cho Abuse
Margaret Cho: Still Not Funny
Iraqi Prisoner Claims He Was Raped... By Woman
Wonkette Announces "Morning Zoo" Format
John Kerry's "Plan" Causes Surrender of Moqtada al-Sadr's Militia
World Muslim Leaders Apologize for Nick Berg's Beheading
Michael Moore Goes on Lunchtime Manhattan Death-Spree
Milestone: Oliver Willis Posts 400th "Fake News Article" Referencing Britney Spears
Liberal Economists Rue a "New Decade of Greed"
Artificial Insouciance: Maureen Dowd's Word Processor Revolts Against Her Numbing Imbecility
Intelligence Officials Eye Blogs for Tips
They Done Found Us Out, Cletus: Intrepid Internet Detective Figures Out Our Master Plan
Shock: Josh Marshall Almost Mentions Sarin Discovery in Iraq
Leather-Clad Biker Freaks Terrorize Australian Town
When Clinton Was President, Torture Was Cool
What Wonkette Means When She Explains What Tina Brown Means
Wonkette's Stand-Up Act
Wankette HQ Gay-Rumors Du Jour
Here's What's Bugging Me: Goose and Slider
My Own Micah Wright Style Confession of Dishonesty
Outraged "Conservatives" React to the FMA
An On-Line Impression of Dennis Miller Having Sex with a Kodiak Bear
The Story the Rightwing Media Refuses to Report!
Our Lunch with David "Glengarry Glen Ross" Mamet
The House of Love: Paul Krugman
A Michael Moore Mystery (TM)
The Dowd-O-Matic!
Liberal Consistency and Other Myths
Kepler's Laws of Liberal Media Bias
John Kerry-- The Splunge! Candidate
"Divisive" Politics & "Attacks on Patriotism" (very long)
The Donkey ("The Raven" parody)
Powered by
Movable Type 2.64