U.S. President Joe Biden on Thursday called China a "ticking time bomb" because of its economic challenges and said the country was in trouble because of weak growth.
Remember when the USA experienced two consecutive quarters of negative growth (commonly recognised metric for a recession) and then they just said “Ope, sorry! It’s not recessionary enough for us to call it a recession”
So they basically said “doesn’t count if there is jobs growth”. As long as you can keep creating 10 precarious gig worker jobs for every 9 full time jobs that are eliminated then the economy is doing great!
Remeber when the US economy collapsed in 2007 and ever since then it’s been propped up by speculation, free money, zomvie companies that cannot and will never turn a profit, bailouts, and outright fraud, all while the living conditions of the people continue to decay and live expectancy plummets?
Remember when the USA experienced two consecutive quarters of negative growth (commonly recognised metric for a recession) and then they just said “Ope, sorry! It’s not recessionary enough for us to call it a recession”
So they basically said “doesn’t count if there is jobs growth”. As long as you can keep creating 10 precarious gig worker jobs for every 9 full time jobs that are eliminated then the economy is doing great!
Remeber when the US economy collapsed in 2007 and ever since then it’s been propped up by speculation, free money, zomvie companies that cannot and will never turn a profit, bailouts, and outright fraud, all while the living conditions of the people continue to decay and live expectancy plummets?
And a year later when Germany experiences similarly minor shrinking and the US Press is like RECESSION