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We Have Officialy Slipped Into a US Recession

John Galt

Updated: August 2, 2022

us recession
Editor’s Note:

EDITOR'S NOTE: As the US GDP price index hits record highs while GDP growth hits two consecutive quarters of negative growth, perhaps we’re dealing with more than just a US recession ahead. What’s the likelihood of a stagflationary scenario unfolding in our already-fragile economy (contrary to Biden and Yellen’s attempt to tell us otherwise)? The jobs report is coming out this Friday. And next week, August 10 and 11, we’re going to see the July CPI and PPI reports. Should those reports reflect poorly on our economy, let’s see how creative the current administration might get in attempting to spin night into day.

Despite what the talking heads in Washington DC say, the US economy has officially slipped into recession.

US Real GDP for Q2 slumped -0.9% QoQ, the second straight quarter negative GDP growth. Also, known as RECESSION.

Source: Confounded Interest

The GDP price index rose more than expected (+8.7% versus the expected +8.0%).

Source: Confounded Interest

The Federal Reserve is not a friend of mine.


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