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Bank of America CEO Brian Moynihan has slammed Democrat President Joe Biden’s economic rhetoric and issued a warning about his administration’s attempts to twist the definition of a recession.
The Biden administration repeatedly downplayed the definition ahead of an economic report that showed the United States experienced two consecutive quarters of GDP contraction.
The traditional definition of “recession” is met after two consecutive quarters of GDP contraction.
“In terms of the technical definition, [two negative quarters of growth] is not a recession,” said Brian Deese, director of the National Economic Council.
“The technical definition considers a much broader spectrum of data points.”
Moynihan has fired back at the Biden admin for playing semantic games over America’s economic woes.
Splitting hairs over whether the U.S. is actually in a recession demonstrates how out of touch the Biden administration is with the sentiment of everyday Americans, Moynihan told the Associated Press.
“Recession is a word,” Moynihan said.“Whether we are in a recession or not is really not the important thing.“It’s what it feels like for the people going through this.” Slay the latest News for free! Even with the Biden administration celebrating “zero inflation” in July, Moynihan, who leads the second-largest bank in the U.S., warns that he remains concerned about high gas prices and especially skyrocketing rent prices.“Gas prices are coming back down, but rents are going up 10, 12, 15%. And rent can end up taking 40% of these households’ income,” Moynihan said.“We are worried about, for the U.S. broad-based consumer, is the increased rents as we go into the natural turn of rents.”Indeed, according to the Bureau of Labor Statistics , shelter prices rose 5.7% year-over-year in July, which the agency explained amounted to “about 40% of the total increase in all items less food and energy” — just as Moynihan said.On the question of […]
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Will America-First News Outlets Make it to 2023?
Things are looking grim for conservative and populist news sites.
There’s something happening behind the scenes at several popular conservative news outlets. 2021 was bad, but 2022 is proving to be disastrous for news sites that aren’t “playing ball” with the corporate media narrative. It’s being said that advertisers are cracking down, forcing some of the biggest ad networks like Google and Yahoo to pull their inventory from conservative outlets. This has had two major effects. First, it has cooled most conservative outlets from discussing “taboo” topics like Pandemic Panic Theater, voter fraud, or The Great Reset. Second, it has isolated those ad networks that aren’t playing ball.
Certain topics are anathema for most ad networks. Speaking out against vaccines or vaccine mandates is a certain path to being demonetized. Highlighting voter fraud in the 2020 and future elections is another instant advertising death penalty. Throw in truthful stories about climate change hysteria, Critical Race Theory, and the border crisis and it’s easy to understand how difficult it is for America-First news outlets to spread the facts, share conservative opinions, and still pay the bills.
Without naming names, I have been told of several news outlets who have been forced to either consolidate with larger organizations or who have backed down on covering certain topics out of fear of being “canceled” by the ad networks. I get it. This is a business for many of us and it’s not very profitable. Those of us who do this for a living are often barely squeaking by, so loss of additional revenue can often mean being forced to make cuts. That means not being able to cover the topics properly. Its a Catch-22: Tell the truth and lose the money necessary to keep telling the truth, or avoid the truth and make enough money to survive. Those who have chosen survival simply aren’t able to spread the truth properly.
We will never avoid the truth. The Lord will provide if it is His will. Our job is simply to share the facts, spread the Gospel, and educate as many Americans as possible while exposing the forces of evil.
To those who have the means, we ask that you please donate. We have options available now, but there is no telling when those options will cancel us. We have our GivingFuel page. There have been many who have been canceled by PayPal, but for now it’s still an option. Your generosity is what keeps these sites running and allows us to get the truth to the masses. We’ve had great success in growing but we know we can do more with your assistance.
Thank you, and God Bless!