The Detroit Free Press, ever covering for the Democrats had the following article: What are the odds of a U.S. recession in 2023?
Since we're already in one I'd say the odds are pretty much 100%.
Indeed, now Federal Reserve Chairman Powell is backing away from his statement of just 11 days ago that higher rates likely won't cause a deep recession, it doesn't look good.
Fox Business: Fed's Powell abandons promise of 'soft landing' amid inflation fight
Given Powell's previous wrong statements that inflation frrm his and Biden's monetary policies would be merely tranistory, and that he;s now abandoning his promise that he can controlinflation while creating a "soft landing", I'd say that economic reality that their actions are goign to cvause a deep recession is pretty much spot on.
Inflation and flooding the economy with dollars may make you feel pretty good initially, and Biden is trying to keep the bender going by continuing spending under the "Inflation Reduction Act" that will actually increase inflation, and spending over half a trillion in forgiving his supporters' student loans.
But, the hangover is going to suck - and its going to hurt those of us who weren't even drinking the Democrat's Modern Monetary Theory Kool-Aid.
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