The US economy is officially in recession after two consecutive quarters of falling GDP (R-E-C-E-S-S-I-O-N, Mr. President). Even worse, one year of rising prices on top of his slowing economy means Joe Biden is the first president since Jimmy Carter to cause stagflation (S-T-A-G-F-L-A-T-I-O-N, sir). Now, the Fed must raise rates high enough to halt runaway inflation, even if it means recession.
It certainly used to be the case that economic circumstances were a determining factor in political cycles. I can't remember who coined the phrase "it's the economy - stupid!". This used to be almost a truism. But times have changed. With the media now transformed into a propaganda outlet for the extremists taking over the country at every level, the public has little appreciation of the economic mess which now prevails. The mid term election results are likely to gainsay current poll indicators, as the extremists have superior tactics and the opposition is hopelessly divided. The economy will have little impact.
It certainly used to be the case that economic circumstances were a determining factor in political cycles. I can't remember who coined the phrase "it's the economy - stupid!". This used to be almost a truism. But times have changed. With the media now transformed into a propaganda outlet for the extremists taking over the country at every level, the public has little appreciation of the economic mess which now prevails. The mid term election results are likely to gainsay current poll indicators, as the extremists have superior tactics and the opposition is hopelessly divided. The economy will have little impact.