US Economy Begins to Shrink; Recession Likely This Summer

Once again, they’ve done it! The “experts” have once again underestimated how bad things are with the economy, and it’s getting worse. Month after month we are told that inflation rose more than expected. It’s amazing how they have gotten it this wrong for over a year now and almost every month in that past year they have underestimated how bad inflation really is.

They’ve done it again! No, not on inflation but on the GDP. This time they expected the GDP to grow by a mere 1.1% for Q1 of 2022 but it actually shrunk by 1.4%. It takes two consecutive quarters of negative GDP growth, which means by July of this year when Q2 GDP numbers are released, we could technically be in a recession.


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Almost every expert that I have seen has claimed that in 2023/2024 we could be seeing a recession, and possibly a major one. Forbes recently ruled out any possibility of a recession in 2022 but it’s looking like it could be here by this summer.

Just one day before these numbers, Biden bragged about how well the economy was doing under his administration. Voters don’t seem to be buying that, however. According to a new CNBC poll, just 17% ranked the economy under Biden as “excellent” or “good”, which is the lowest approval rating for a President since 2014. 47% of the public say the economy is “poor” which is the highest since 2012. Due to inflation, just 1 in 5 say they are getting ahead with their finances, which is the lowest that number has been in 8 years.

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