Updated, accurate reports have just been released by distinguished economists, federal watchdogs and reputable fact checkers on the actual economic situation—according to these, the U.S. has been in a recession since 2022, and the real inflation rate is now hovering close to 40%.

Most recently, the Brownstone Institute indicated the actual inflation rate as close to double the “informed” rate from media and government sources:

Many have questioned the accuracy of official inflation statistics, with dozens of academic papers written on the topic and doubts voiced by sources ranging from the New York Times to former President Donald Trump.

[snip]

According to our adjustments, cumulative inflation since 2019 has been understated by nearly half. This has resulted in cumulative growth being overstated by roughly 15%. This is a large amount for just 5 years – for perspective, peak-to-trough drop in real GDP during the 2008 crisis was 4%.

Moreover, these adjustments indicate that the American economy has actually been in recession since 2022.

Okay, so Biden/Harris Inc. has actually done a fabulous job, in this sole area: hiding the woeful economic state of American citizens, going on four years. But they’ve been hiding in plain sight—that we know from our acute struggle, as most Americans today are tied in money knots to hold on to their homes, families, livelihoods, farms, and survival.

The Brownstone Institute economists agree with the American people:

These conclusions are in stark contrast to the establishment narrative that the US economy is enjoying robust growth that for some reason the public is incapable of perceiving. Indeed, our results are consistent with the perceptions of the American public, of whom a majority believe we are in recession.

This matters not only because of the political salience of rising prices, but also because official inflation numbers are used to calculate real economic growth by adjusting nominal dollars to inflation-adjusted dollars.

So, here’s where we really find ourselves: Trapped by an on-going recession and inflation off-the-charts, and coming for us still in 2025, without a change in presidential leadership. Don’t tell Biden and Kamala—apparently, they don’t want to know about any of this. Or they’re not repeating it to the voting public.

In the Kamala vein, here is the Just Facts summary that disputes Harris on her “price-gouging”claims, and related inflation ephemera from the Democrats:

IN FACT, the main causes of high grocery prices are big government spending and easy money policies — not price gouging.

SOURCES: https://t.co/gOxjNS53HT https://t.co/06eY8DNXpF pic.twitter.com/IfMpwbW7td

— Just Facts (@realjustfacts) October 14, 2024

To be clear, the Just Facts “price gouging” dismissal above is based upon the following Federal Reserve Bank study (pity that Harris didn’t check it out).

So, we can say to our more clueless Democrats soon, as we vote : “It’s the Recession, stupid.”

Image: Free image, Pixabay license.