What recession. From Don Surber who also writes the quote of the month:
Trump ended the Fake Recession
The National Bureau of Economic Research sure was quick to declare a covid-19 recession on June 8. It cited an increase in unemployment, a decrease in retail sales, and a drop in economic activities -- lasting more than a few months.
Don then cites the NBER:
In a January 13, 2003, letter, the NBER noted, "A recession is a significant decline in activity spread across the economy, lasting more than a few months, visible in industrial production, employment, real income, and wholesale-retail sales. A recession begins just after the economy reaches a peak of activity and ends as the economy reaches its trough. Between trough and peak, the economy is in an expansion. Expansion is the normal state of the economy; most recessions are brief and they have been rare in recent decades."
And yes, we have had three months of economic decline caused by the Wuhan COVID lockdown but:
"The U.S. government reported a record 17.7% increase in retail sales for May. Economists polled by Dow Jones expected a gain of 7.7%."
The 17.7% gain in retail sales was more than double the expected 8.4% rise.
The economy is roaring back like gangbusters. Unemployment is way down and now? Retail sales are way up.
Don's quote?
The surest sign that the economy has recovered is Barack Hussein Obama is taking credit for it.
His minder, Valerie Jarrett, said, "The unemployment rate for the African-American community started coming down as a result of the steps that President Obama did to right our economy back in 2009. President Trump has benefited from those steps and created the spur that got our economy going in the right direction."
Sure, sweetie, sure.
I love it: "The surest sign that the economy has recovered is Barack Hussein Obama is taking credit for it"
Obama did not build that. He is mentally and physically incapable of building anything remotely close.
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