Calling a recession and blaming it on interest rates

The latest US GDP figures for second quarter of 2022 renewed the debate about whether the US economy was in a recession or not. Real GDP contracted in the second quarter of this year by a 0.9% annualised rate (or by 0.2% quarter over quarter). That meant the US economy had contracted for two successive quarters, and so ‘technically’ (by that definition) was in a recession. Real GDP is now up only 1.6% from Q2 2021. And business investment is slowing, up only 3.5% from this time last year, the slowest rate since the end of the COVID slump in 2020.

Calling a recession and blaming it on interest rates

Mitch McConnell says the labor shortage will be solved when people run out of stimulus money because Americans are ‘flush for the moment’

Mitch McConnell says the labor shortage will be solved when people run out of stimulus money because Americans are ‘flush for the moment’

Related:

McConnell’s Wife’s Family Business Appears on Trump Admin’s List of Companies That Received Most PPP Money

So says the man who’s wife received a PPP loan! 🙄

Larry Summers warns unemployment must rise to cool inflation

Ex-Treasury Secretary Larry Summers warned that millions of currently employed Americans must lose their jobs in order for the Federal Reserve to succeed in its bid to cool inflation.

Larry Summers warns unemployment must rise to cool inflation

Related:

Larry Summers Says US Needs 5% Jobless Rate for Five Years to Ease Inflation

Maybe he can ship some more jobs overseas [/sarcasm]?! I’d suggest shipping him, overseas, but I wouldn’t even wish that on my enemy!

The Problem with Juneteenth

Margaret Kimberley, BAR Executive Editor and Senior Columnist | 15 Jun 2022

Juneteenth was a people’s holiday with deep meaning for the descendants of enslaved people. But the declaration of an official federal holiday has turned it into an opportunity for corporate exploiters and cynical politicians to show pretend concern for Black people. At best Juneteenth provides a history lesson and an opportunity for much needed political education.

The Problem with Juneteenth

[1999] CIA’s War Against China

by Ralph McGehee, December 1999

The US has again asked the UN to condemn China’s human rights record. Our nervousness over this issue is increased by the scheduled reversion of Hong Kong to Chinese rule next year. The condemnation request has been accompanied by a barrage of media stor ies about China’s treatment of orphans, the Laogai prison system, the lack of political freedom and other issues. Observers of international political developments will recognize such stories as the standard accompaniment of operations by the CIA/NED to alter or overthrow target governments. The US corporate-owned media, in league with government agencies, orchestrate media coverage to demonize states in conflict with corporate plans. (Many of the media stories seem to be generated by the “privately funded” US-based Human Rights Watch/Asia). Once and if the Chinese government is changed and serves well the corporate state, even if any abuses multiply — we will hear no protest.

CIA’s War Against China
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