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

‘Cut through wall of imperialist propaganda’ on Ukraine

‘Cut through wall of imperialist propaganda’ on Ukraine

Related:

“Watch Yevhen Karas the leader of Ukraine’s neo-Nazi terror gang C14’s speech from Kiev earlier this month. Straight from the horses’ mouth, he dispels the many narratives pushed by the left, the mainstream media and the State Department.” – Alex Rubinstein

YouTube: Yevhen Karas, leader of Ukraine’s neo-Nazi gang C14 by Vanessa Beeley on YouTube.

YouTube: Ukraine on Fire

Bitchute: Ukraine on Fire

How the Left betrayed the Truckers + Elites Are Smearing Truckers Because We’re Doing Their Job Representing the People

How the Left betrayed the Truckers

Ottawa’s truckers are a symptom of the massive class divide that is opening up across the West. Marxists are sticking their heads in the sand about this generational moment, or papering it over with absurd topsy-turvy leaps. In one recent display of moon logic, the Canadian activist, writer and self-described socialist Nora Loreto complained that “labour” was invisible in the resistance to the “fascist” truckers that had occupied Ottawa. An exasperated comrade chimed in with a story of being a shop steward for a teamster (truck driver) union, and — horror of horrors — the painful truth was that many teamsters were more likely to be in the protest themselves than protesting against it.

The exchange is modern Western Leftism in a nutshell. Is there a single better illustration of the contradictions of the moment? An “activist” and organiser” recoiling in horror at a bunch of truckers — people who work in the real, material economy, ferrying the foodstuffs and goods we all depend on to survive — staging a political protest, only to then ask “but where is the organised working class in all of this?”. Isn’t it obvious to the point of parody that the workers are the people inside the trucks?

Related:

Elites Are Smearing Truckers Because We’re Doing Their Job Representing the People