Biden Administration Bracing for a Tsunami of Bad Economic News This Week – IOTW Report

Biden Administration Bracing for a Tsunami of Bad Economic News This Week

PJMedia:
Politico calls the coming avalanche of bad economic news a “Category 5 storm.” Indeed, the Biden administration may want to dig a hole and hide while Biden goes to his summer home in Delaware, given the depressing numbers that will come out of Washington this coming week.

Consumer confidence numbers (which currently stink) hit on Tuesday. A Federal Reserve meeting and decision on interest rates, coupled with a press conference from Fed Chair Jerome Powell, follows up on Wednesday.

The first reading on second quarter economic growth drops on Thursday. And the latest numbers on our vexing run of historically high consumer price inflation close out the monster run of data on Friday. In a note to clients today, analysts at Deutsche Bank suggested the flood of information will “leave you breathless.”

Yikes.

For the White House, hope springs eternal. The administration has been touting the dropping price of a gallon of gas this month as if they’re reading the entrails of a newt and discovering that “prosperity is just around the corner,” as Herbert Hoover claimed right before the bottom dropped out of the economy.

But what are those newt entrails really telling us? more

16 Comments on Biden Administration Bracing for a Tsunami of Bad Economic News This Week

  1. “Biden Administration Bracing for a Tsunami of Bad Economic News This Week”

    Translation;

    The lying, bullshitting, corrupt biden administration is planning their normal lying, deceitful, ridiculous poppycock horseshit story for the stupid, naive, sheep that will continue to vote democrat no matter HOW STUPID the commie democrats openly show themselves to be.

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  2. The first reading on second quarter economic growth drops on Thursday.

    It is amusing that only in the field of mainstream economics is it normal to talk about the growth of something that’s getting smaller.

    8
  3. Fake administration – Real consequences.
    Same shit as before, raise the price until sales fall off, drop the price so everybody feels better, raise the price again.

    And you can blame the dem voters, cause he didn’t win in the first place.

    8
  4. “Biden Administration Bracing for a Tsunami of Bad Economic News This Week”

    The real question is whether or not they’ll blame this tsunami on climate change 😉

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