Two Weeks to Flatten the GDP, by Jeffrey A. Tucker 

Pay no attention to that inflationary recession behind the curtain. From Jeffrey A.Tucker at brownstone.org:

What is it with these pundits and government spokespeople? Two years ago, they were wildly exaggerating virus threats, canceling and censoring people who pointed out contrary evidence. It was all about scaring people into compliance with a far-flung epidemiological experiment.

Now the tendency has swung the other way. No matter how bad the economic news is, the tendency is to downplay it, promise a turnaround soon, and otherwise claim that anyone who is worried is just being paranoid. We need only point to the claims from last fall that the inflation is merely “transitional.” Sure enough, it is easily the number one issue.

Yesterday morning, it was the same. The GDP numbers reported a first-quarter shrinkage of 1.4% annualized and what do they tell us? This is just noise, not a signal. That was the main message from all media outlets.

It’s only a flesh wound, one might say. The economy will soon bounce back. Just give it time! Sure, but how much time? How deep can the recession/depression get? No one knows for sure. We know by now that the experts are happy to lie about their intuitions, if only to keep the public calm.

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