US strong enough to avoid recession, says Biden economic adviser

The criteria for determining a recession has historically been "Negative Gross Domestic Product (GDP) for two consecutive quarters", which we have had. The current administration seems to redefine the meaning with a new word salad definition, indicating the original definition is invalid for the current economic environment.

> “If we look at where the United States are, two things are clear. One is that we have a degree of strength and resilience in the labour market and household balance sheets and in business investment. That is continuing to move our economy forward, and that’s really important,” Deese said.

> “The second is that we are in a stronger position than . . . frankly, any other country to navigate through this transition without having to give up those gains.”

Uhm, what do you expect them to broadcast prior to the midterms? The Fed interest rate hike to 7% will likely result in a big slowdown.

I don't think doubling your debt translates as "strong enough", the next generation of americans will have to pay, or debt no longer matter? will it be erased magically? looks like it will be

USD overvalued, your average Joe will struggle to export their products if your "allies" can no longer afford them

Unless the goal is EURODOLLAR USD:GPB:EUR at 1:1, there is a push to massively increase salaries across Europe, looks like i was right since the beginning

"Nothing is true until it has officially been denied."

Looks very much like the US is in a recession, then.

alternatively: https://archive.ph/UU7Jc