{"id":1664531,"date":"2022-09-29T12:32:51","date_gmt":"2022-09-29T16:32:51","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1664531"},"modified":"2022-09-29T12:36:14","modified_gmt":"2022-09-29T16:36:14","slug":"washington-post-finally-learns-what-a-recession-is-and-swears-it-could-be-good-for-you-financially","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/washington-post-finally-learns-what-a-recession-is-and-swears-it-could-be-good-for-you-financially\/","title":{"rendered":"Washington Post Finally Learns What A Recession Is And Swears It \u2018Could Be Good For You Financially\u2019"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">34<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fwashington-post-finally-learns-what-a-recession-is-and-swears-it-could-be-good-for-you-financially%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1664531&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div><\/div>\n<p>The Washington Post wants you and every other American concerned about the recession, record-high inflation, and a crashing stock market to put on a brave face and pretend there\u2019s an upside to this economic chaos.<\/p>\n<p>That\u2019s why the corporate media outlet guilty of <a href=\"https:\/\/thefederalist.com\/tag\/washington-post\/\" target=\"_blank\" rel=\"noreferrer noopener\">regularly spewing pro-Democrat propaganda<\/a> published <a href=\"https:\/\/www.washingtonpost.com\/business\/2022\/09\/28\/recession-seven-silver-lining-strategies\/\" target=\"_blank\" rel=\"noreferrer noopener\">a column<\/a> ordering Americans to see the bright side of the economic conditions that have become the <a href=\"https:\/\/nypost.com\/2022\/09\/26\/americans-increasingly-unhappy-with-bidens-handling-of-economy-poll\/\" target=\"_blank\" rel=\"noreferrer noopener\">main source of their frustration<\/a> over the last year. <\/p>\n<p>\u201cHey, a recession isn\u2019t all bad news,\u201d Washington Post columnist Michelle Singletary said in her article \u201c7 ways a recession could be good for you financially.\u201d \u201cHere are seven silver linings,\u201d she added.<\/p>\n<p>Keep in mind that The Washington Post was one of the <a href=\"https:\/\/thefederalist.com\/2022\/07\/25\/recession-no-problem-just-pretend-it-doesnt-exist\/\" target=\"_blank\" rel=\"noreferrer noopener\">many corporate media outlets<\/a> that, after back-to-back negative quarters, <a href=\"https:\/\/www.washingtonpost.com\/business\/2022\/07\/27\/when-are-we-in-recession\/\" target=\"_blank\" rel=\"noreferrer noopener\">denied that the U.S. had entered a recession<\/a>. <\/p>\n<p>Mere months later, WaPo is not only quietly conceding that the nation<em> is<\/em> experiencing a severe economic downturn, but is also telling Americans to be optimistic about the dire economic circumstances that come with a recession. <\/p>\n<p>\u201cI have to say this because, as Roosevelt pointed out, fear itself can lead to actions that worsen your finances. While many people are hurting, there may be ways to cushion the downside,\u201d Singletary wrote. <\/p>\n<p>The newspaper was rightfully <a href=\"https:\/\/www.foxnews.com\/media\/washington-post-torched-touting-7-ways-recession-could-be-good-you-embarrassing-propaganda\" target=\"_blank\" rel=\"noreferrer noopener\">torched<\/a> by angry Americans for pretending everything is fine, but that public backlash alone isn\u2019t enough. Here is a dissection of The Washington Post\u2019s recession deceptions one by one.<\/p>\n<h2>Deception #1: Housing Prices Are Down<\/h2>\n<p>Singletary says the recession might bring housing prices \u201cdown to reasonable levels.\u201d She acknowledges that means \u201cmortgage rates are higher\u201d but claims those are not a problem since \u201csellers in many markets will have to lower their asking prices so that buyers can qualify for the loans.\u201d<\/p>\n<p>That\u2019s assuming, of course, that potential home buyers can afford anything other than <a href=\"https:\/\/thefederalist.com\/2022\/09\/23\/grocery-shop-with-me-to-fact-check-bidens-inflation-up-hardly-at-all-claim\/\" target=\"_blank\" rel=\"noreferrer noopener\">astronomically priced items at the grocery store<\/a>. Thanks to tight finances and a reluctance to sacrifice a thorough home inspection, buyers in real estate hotspots across the country are already <a href=\"https:\/\/www.marketwatch.com\/story\/theyre-waiting-to-see-if-home-prices-fall-home-buyers-are-backing-out-of-contracts-in-the-sun-belt-at-a-record-rate-11664201599\" target=\"_blank\" rel=\"noreferrer noopener\">backing out of contracts<\/a>. <\/p>\n<h2>Deception #2: Savings Rates Are Up<\/h2>\n<p>\u201cAt least one bright side of the Federal Reserve raising rates to fight inflation is banks are paying people more to hold their money,\u201d Singletary wrote. \u201cMy credit union has a special 20-month offer on a certificate that would pay me a 3 percent annual percentage yield.\u201d<\/p>\n<p>Well good for you, but to be frank, nearly <a href=\"https:\/\/www.forbes.com\/advisor\/personal-finance\/americans-are-draining-their-savings\/\" target=\"_blank\" rel=\"noreferrer noopener\">46 percent of Americans<\/a> say they are saving less than usual right now. After paying more than <a href=\"https:\/\/gasprices.aaa.com\/\" target=\"_blank\" rel=\"noreferrer noopener\">$3 per gallon gas<\/a> to fill up their cars, higher prices to feed their families, and forking over extra cash to cover <a href=\"https:\/\/www.npr.org\/2022\/09\/13\/1122371879\/electricity-utilities-gasoline-gas-prices-inflation-august-cpi-consumer-prices\" target=\"_blank\" rel=\"noreferrer noopener\">ever-climbing energy bills<\/a>, working Americans likely don\u2019t have many leftover funds to stash anymore. <\/p>\n<p>In fact, some Americans <a href=\"https:\/\/www.economist.com\/graphic-detail\/2022\/06\/17\/americans-are-saving-less-than-at-any-point-since-the-financial-crisis\" target=\"_blank\" rel=\"noreferrer noopener\">aren\u2019t saving at all<\/a>. At least 29 percent of Americans confess they are being forced to dip into their savings accounts to cover essential, day-to-day costs.<\/p>\n<h2>Deception #3:\u00a0I Bonds Inflation Rate Might Go Even Higher<\/h2>\n<p>Singletary says buying federally-controlled inflation bonds could be good since the bonds are paying out a whopping 9.62 percent. Those rates, however, aren\u2019t going to last. The Treasury, which controls the bonds, has <a href=\"https:\/\/www.treasurydirect.gov\/indiv\/research\/indepth\/ibonds\/res_ibonds_iratesandterms.htm\" target=\"_blank\" rel=\"noreferrer noopener\">already announced plans<\/a> to introduce a new, variable rate next month.   <\/p>\n<p>Yes, I bonds are designed to minimize the damaging effect of inflation even at a lower rate, but what happens when Americans can\u2019t spare the money to buy those bonds because they\u2019re barely getting by paying for much more urgent daily needs? After all, money invested in an I bond is tied up there for at least one year to allow for maturation. <\/p>\n<h2>Deception #4: The Dollar Is King\u00a0<\/h2>\n<p>\u201cAlthough a lot is in flux, if you have plans to\u00a0<a href=\"https:\/\/www.washingtonpost.com\/business\/interactive\/2022\/euro-dollar-travel\/?itid=lk_inline_manual_32\" target=\"_blank\" rel=\"noreferrer noopener\">travel overseas<\/a>, your dollar may go a lot further. This week, the British pound fell to an\u00a0<a href=\"https:\/\/www.washingtonpost.com\/world\/2022\/09\/26\/uk-gbp-pound-falls-usd-dollar\/?itid=lk_inline_manual_32\" target=\"_blank\" rel=\"noreferrer noopener\">all-time low<\/a>\u00a0against the dollar,\u201d Singletary suggests.<\/p>\n<p>This is quite possibly the most out-of-touch recommendation on Singletary\u2019s list. How on Earth could Americans, who are spending an extra\u00a0<a href=\"https:\/\/www.foxbusiness.com\/economy\/inflation-costing-average-american-717-month-analysis-shows#:~:text=The%20average%20American%20is%20shelling,rent%2C%20food%20and%20health%20care.\" target=\"_blank\" rel=\"noreferrer noopener\">$717 a month<\/a> just to stay afloat, afford an expensive overseas vacation right now? <\/p>\n<p>Simply put: They can\u2019t. The only planning many Americans are doing right now is planning to <a href=\"https:\/\/www.fool.com\/the-ascent\/personal-finance\/articles\/38-of-americans-plan-to-cut-holiday-spending-due-to-inflation-should-you\/\" target=\"_blank\" rel=\"noreferrer noopener\">cut back on holiday spending<\/a> and planning to <a href=\"https:\/\/www.cnbc.com\/2022\/09\/27\/nearly-70-percent-of-americans-are-looking-for-extra-work-to-combat-inflation.html\" target=\"_blank\" rel=\"noreferrer noopener\">look for extra work<\/a> to cover their bloated bills.<\/p>\n<h2>Deception #5: Unemployment Is Still Relatively Low<\/h2>\n<p>Looks like someone has been reading the <a href=\"https:\/\/thefederalist.com\/2022\/03\/08\/heres-the-full-list-of-every-lie-joe-biden-has-told-as-president-187-and-counting\/\" target=\"_blank\" rel=\"noreferrer noopener\">White House talking points again<\/a>. Just because unemployment is \u201cdown\u201d following a government-induced lockdown and subsequent reopening of the country doesn\u2019t mean the labor market is strong. Record numbers of people\u00a0<a href=\"https:\/\/www.cnbc.com\/2021\/11\/12\/a-record-4point4-million-people-quit-jobs-in-september-great-resignation.html\" target=\"_blank\" rel=\"noreferrer noopener\">left their jobs<\/a> last year after multiple rounds of so-called stimulus checks. <\/p>\n<h2>Deception #6:\u00a0Your Used Car Is Worth More<\/h2>\n<p>\u201cIf you\u2019re looking to upgrade to a newer car, and your car is in fairly good condition, you\u2019ll get more for your trade-in,\u201d Singletary says.<\/p>\n<p>Sure, your used car might sell for more right now. But unless you have multiple vehicles or plan to take public transportation, you\u2019re likely not going to render yourself carless only to turn around and have to buy another marked-up vehicle. Even Singletary admits that \u201cnew car prices were up 10 percent from a year ago.\u201d<\/p>\n<p>Severely lacking from this car conversation is also the fact that it costs Americans an average of <a href=\"https:\/\/gasprices.aaa.com\/\" target=\"_blank\" rel=\"noreferrer noopener\">$3.78 per gallon<\/a> to keep their vehicles gassed up and ready to go. <\/p>\n<h2>Deception #7:\u00a0<strong>Student Loan Forgiveness Will Save You<\/strong><\/h2>\n<p>Singletary boasted President Joe Biden\u2019s student loan bailout as a good thing for Americans struggling with finances. The problem is that those debts will now be transferred to the taxpayers who will have to deal with the <a href=\"https:\/\/thefederalist.com\/2022\/08\/26\/how-joe-bidens-welfare-for-college-grads-will-stoke-inflation\/\" target=\"_blank\" rel=\"noreferrer noopener\">bailout\u2019s inflationary results<\/a>. <\/p>\n<p>Not to mention that most borrowers already <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-05-31\/most-student-loan-borrowers-made-no-payment-during-us-freeze\" target=\"_blank\" rel=\"noreferrer noopener\">weren\u2019t paying on their loans<\/a>, which means they won\u2019t be getting the economic break Singletary says they will. <\/p>\n<p>The only thing that\u2019s clear after reading Singletary\u2019s column is that you shouldn\u2019t get your financial advice from a publication that spends its days spinning for the president \u2014 who not only exacerbated but largely created our current economic crisis. <\/p>\n<hr class=\"wp-block-separator\" \/>\n<p>\n  Jordan Boyd is a staff writer at The Federalist and co-producer of The Federalist Radio Hour. Her work has also been featured in The Daily Wire and Fox News. Jordan graduated from Baylor University where she majored in political science and minored in journalism. Follow her on Twitter @jordanboydtx.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Washington Post wants you and every other American concerned about the recession, record-high inflation, and a crashing stock market to put on a brave face and pretend there\u2019s an<\/p>\n","protected":false},"author":490,"featured_media":1664533,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1664531","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1664531","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/490"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1664531"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1664531\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1664533"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1664531"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1664531"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1664531"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}