Alternative Visions - US Recession Is Here: US GDP Contracts January-March

Dr. Rasmus discusses the recent announcement of US GDP for first quarter 2022 which shows a contraction of the US real economy already underway. The Federal Reserve’s plan to accelerate interest rate hikes starting this month and every Fed meeting this year thereafter, ensures the recession drift will continue and likely accelerate as well.  The four components of US GDP—consumer spending, business investment, government spending and net exports (imports-exports) are reviewed as forces behind the GDP contraction. Rasmus discusses the supply side and corporate price gouging behind the current inflation, and how that is depressing consumer spending 70% of US economy + how slowing of economies in rest of world is depressing exports + how US shift to war spending at expense of social programs is further exacerbating the US economic contraction. As Covid impact has ebbed, the war in Ukraine further exacerbates supply drive inflation and in turn consumer demand. How big oil corps and other monopoly corporations in USA are gaming the inflation to generate super profits; what and why Biden administration is doing (and not doing). Rasmus further concludes the war in Ukraine will not be short but protracted, as US adopts a ‘Brezinski 2.0’ doctrine to debilitate Russia economically and militarily in Ukraine; why NATO will expand outside Europe; why the Ukraine war is an event similar to ‘Spain 1937’.