A Republican Recession or a Democrat Economic Surge?

 The GDP for the second quarter was announced today.  It showed the second consecutive decline in output.  This time it was a decline of 0.9%.  Under the traditional definition of a recession (two consecutive quarters of declining output), the US economy is now in recession.  If you read the news articles, however, the media is saying that we aren't yet in a recession.  Huh?  That's like telling a patient that his temperature is 102 degrees but he doesn't have a fever.

The real difference is that a Democrat is president.  If we had a Republican president, all we would be hearing today is about the terrible recession facing the country.  With Biden in office, we have a recession and high inflation at the same time, and it's no problem according to the media.

It's really sad because even the financial media is reporting this as a political matter.  In the past, the financial media was mostly unbiased.  Not anymore.

Protecting Big Oil

 Here's a quick question.  Don't think about it just say whatever comes to mind first.

Which party protects the big oil companies and guarantees them huge profits?

a.  Democrats

b.  Republicans

c.  Both

d. Neither

If you've been conditioned by years of phony media stories, you likely said b. Republicans.  The truth though is that it is the Dems who are the principal protector of big oil and its profits.

Think about it.  When Trump and the Republicans were in power, federal limitations on drilling and pipelines were removed.  That brought much more oil and gas to market and the increased supply brought the price down and kept it there.  As soon as Biden and the Dems took office, the blocked a series of pipelines (which cut oil supplies by about a million barrels per day) and limited drilling locations and methods (which also cut supplies by about another million barrels per day.)  That two million barrels lost each day is about 10% of the US consumption rate.  The major reduction in oil and gas supplies created a shortage and resulted in higher and higher prices.  It's a big part of the current inflation we all suffer from.  Not everyone suffers though.  The big oil companies are selling less oil each day, but they are getting at least twice as much for the oil they are still selling.  Their profits are going through the roof thanks to the Dems and their misguided policies that hurt the average American and favor the big oil companies.

Remember this truth the next time some Dem rails against big oil.  They're lying.