It's official: US has been in a recession all year

WASHINGTON (Reuters) - The U.S. economy slipped into recession in December 2007, the nation's business cycle arbiter declared on Monday, and the downturn could be the worst since World War Two.

The National Bureau of Economic Research said its business cycle dating committee members met by conference call on Friday and concluded that the economic expansion that started in November 2001 had ended. The previous period of economic expansion, which ended in 2001, lasted 10 years.

The current recession, which many economists expect to persist through the middle of next year, is already the third-longest since the Great Depression, behind only the 16-month slumps of the mid-1970s and early 1980s.

"I think that we've got a ways to go, that this is going to be probably a deep and long recession," Jeffrey Frankel, a Harvard University economist who sits on the NBER's committee, told CNBC television. "It could be the worst post-War recession. We don't know yet."

The NBER does not define a recession as two consecutive quarters of decline in real gross domestic product, as is the rule of thumb in many countries. Instead, it looks for a decline in economic activity, spread across the economy and lasting more than a few months.

The current downturn was particularly tricky to define because GDP remained positive in the first half of 2008. The NBER said its committee looked at payrolls, which peaked in December 2007 and declined in every month since then, as well as real GDP and other data to determine when the recession started.

"The committee determined that the decline in economic activity in 2008 met the standard for a recession," the NBER said in a statement. "All evidence other than the ambiguous movements of the quarterly product-side measure of domestic production confirmed that conclusion."

STIMULUS PACKAGE

The White House acknowledged the NBER's declaration, but said that did not change its course on coping with the financial crisis that has raged since August 2007.

"The most important things we can do for the economy right now are to return the financial and credit markets to normal, and to continue to make progress in housing, and that's where we'll continue to focus," White House spokesman Tony Fratto said.

President George W. Bush is the first president since Richard Nixon to preside over two recessions.

Several key Democratic lawmakers said the NBER's pronouncement underscored the urgent need for another dose of government spending to kick-start the economy.

"The announcement simply makes official what we have long known -- with rising costs of living, rising unemployment, record foreclosures and depleted savings, we must do more to help families make ends meet," Senate Majority Leader Harry Reid said in a statement.

"With the cooperation of our Republican colleagues, we intend to send a (fiscal stimulus) plan to the White House as soon as possible following President-elect (Barack) Obama's inauguration next month," he said.

Lawrence Summers, one of Obama's top economic advisers, said the pace of the downturn was "accelerating."

"That is why President-elect Obama has set as his top priority passing an economic recovery plan," Summers said in a statement.

Democrats in the House of Representatives will likely seek a stimulus package costing about $500 billion, a Democratic aide said on Monday.

The NBER is well known for taking its time in declaring when recessions begin. The group did not declare March 2001 as the start of a recession until November of that year, which the group later pegged as the end of the downturn.

Economists polled by Reuters expect the U.S. economy to contract in the first half of 2009, and then grow modestly in the latter part of the year. If the economy continues to contract through June, this would most likely rank as the longest recession since the 1930s.

Copyright 2008 Reuters. click for restrictions

I want to talk to you about something that probably didn't make a lot of sense a long time ago. In fact, I can't tell you how many program directors and how many stations threatened to cancel. Or how many calls I got from the average listener saying; What the hell are you even talking about when I talked about, the leadership of Martin Luther King.

I have done everything I can — as much as I possibly can — to teach you about Martin Luther King and nonviolent protests. And I don't think there's anybody in the media who has talked about nonviolence longer and more in-depth on commercial airwaves than me. Preachers, certainly. But commercial airwaves — I don't think anybody has.

Now I think many are beginning to understand why I tried to lay that foundation. I have told you since September 11th that I have this feeling you are going to be the group of people that will, in the end, save the republic.

I've always believed that. I don't know how it's saved. It might just be preserved in our hearts, I don't know. But I believe it now.

I never wanted us to get to this point — everything I've done is to prevent us from getting here. But everybody is so politically tied to their side that no one will let their shields down and actually listen to one another.

And we're at that desperate point now.

You are equipped to save the republic because you at least hopefully have a fundamental understanding of the Constitution and the Bill of Rights. And you have at least a basic understanding of American history. More importantly, what makes this audience so phenomenal is that it is the most generous and service-minded audience of any show in America and perhaps the world.

That's part of what continues to be so frustrating about the Capitol invasion last week. Because you're being maligned.

You.

I know who you are. This is the most peaceful, generous, loving, God-fearing, authentic and patriotic audience in America. And you are frustrated and you are tired of being hit in the face and being called bigot and everything else no matter what you do.

I've been called an anti-Semite just in the last 24 hours by everybody, unjustly.

I get it.

You are now being tainted by the actions of complete imbeciles who do not represent you and me. It's not fair. But that's the hand that we're being dealt and God is in charge and He is not surprised.

We know the left's current tactics fail in the long run. Silencing. Canceling. Taking away rights.

We know the left's current tactics fail in the long run. Silencing. Canceling. Taking away rights. These are the hallmarks of regime, after regime, after Marxist regime on the ash heaps of history. Now China is still there because they've taken the so-called free market and took the capitalist system and they combined it with their Marxist utopia.

I don't know what's going to happen to the people over there. Especially seeing that our high-tech has joined them to weed out the dissidents. But it's not inevitable that we join them.

And it is going to require us to take a stand. Just not in the way that most people — especially if they're angry — think is most effective. Look at the ratings of BLM. 78 percent of Americans, at the beginning of the summer, thought that they were swell.

That number is in the low 20s now. Why? Because violence doesn't work.

I don't know if you saw the fellowship of the ring, but if you did, do you remember when Frodo said: "I don't want to do this!"

He's lamenting having to face down the evil and he's just one guy. I'll never forget it because it was right after 9/11, that the movie came out. I'll never forget Gandalf's reply. He said: "So do we all who live to see such times. But that is not for them to decide. All we have to decide is what we're going to do with the time that is given us."

We can't decide what others are going to do. We can't control the dangerous Orwellian darkness that seems to be descending on America. All we can control is our response and strive to lead by example. If you know anyone in your sphere of influence who might be planning to attend one of these armed rallies in the coming days, beg them not to go. Do everything you can to stop them.

That's not a way to take a stand and it will not protect anything you hold dear and it will endanger the republic. It is what the other side wants.

So how do we take a stand?

The first thing I need you to do today is to help lower the temperature. It has been so hard for me not to respond to people on Twitter who have called me every name under the sun because I quoted the leading Holocaust historian last night on Tucker Carlson.

But see, that wasn't an attack on me, that was an attack on Tucker. If you can scare the guests from coming on to Tucker, you destroy Tucker. That's what they're doing.

Do not vent your anger on social media. At this point, it is probably just going to get your account shut down.

I want you to write this down and I want you to keep this in front of you.

Blessed are the peacemakers. For they will be called the children of God.

That means something today, much more than it did six months ago.

Blessed be the peacemakers.

Be a peacemaker.

And this is the hard part, you can't disconnect. Because things are moving too rapidly. You must stay plugged in.

But I want you to reach out to someone in kindness on social media. Encourage someone. Do not engage with the darkness. Be the light in the corner of your world.

You need to be a leader for what is to come.

And I know I'm asking you almost the impossible. I know you're angry and frustrated and it is gut-wrenching to feel that you're powerless to stop your nation from what you believe is sliding into the abyss.

You are not powerless. You are not voiceless.

I believe it too, with everything in me. I wish I was wrong. I hope that I am. I pray that I am. But know this: You are not powerless. You are not voiceless. You may be the only voice that anyone hears. Voices like mine will go away. I am trying to think of what I need to share with you before, God forbid, that ever happens. Because I cannot live with myself if I talked about something stupid politically and I find my voice silenced and then saying, I wish I would have said this or I wish I would have told them that.

You wield more power than you know. Not because of your voice or being able to call your congressman. You're more powerful than you know because you understand the real problem in America. The real problem in America is not political.

It is spiritual.

If you're like me when you get angry, you think that you are going to take on this challenge on your own — you are not being humble. You think you'll fix it. Everything that is happening to us is because we are an arrogant, out of control people.

We must humble ourselves. Please, you have the skill and the strength to endure the fiery darts that are going to come your way or already are. But this is a problem with our hearts.

You cannot reach someone's head without capturing their heart and no one is going to capture anyone's heart through violence.

Start in your own home and then reach out and if you're able, serve your neighbor. If you can, serve your local community. You must be a beacon of light in a very dark place. I'm going to ask you to do something you're really not going to like. And that's how I know things are from God. When I hear something or I think something and I'm like — oh crap, I don't want to do that — and you just know it it's right. You just know it's what God wants. And you're hoping that maybe you didn't hear it.

And it's so horrible. Because it's the last thing you want to do. But God is unlike many of our churches and preachers, He doesn't tell us what we want to hear. He doesn't have to pay for the church or get collection. Or be judged by how many people go.

Rise above the fray, with service and love, with malice toward none and charity toward all.

He'll say the same thing and he'll lose whole flocks. And they'll eventually start to go — oh wait, where is the Shepherd again?

But I have to tell you now some things that I want you to do. And they're not new. But I need you to hear me. I am asking you if you want to stand for the republic, I need you first to pray.

Pray like you've never prayed before. Pray for humility. Pray for guidance. Pray for peace. Pray for those people who you think you hate. Because you don't. Because hatred does not come from any good place.

Then I want you go out and serve someone in any way possible. On inauguration day especially, get your family and your children involved. Volunteer somewhere, take someone a meal. Do something to lift the spirits of hospital workers or your local police department.

Help a stranger mow a lawn, fix someone's car, pick up trash on the side of the highway. Do what you can do. But the most important thing is to do it with a sincere heart. And if someone asks you, why are you doing this? Just say, because I love my country.

Rise above the fray with service and love, with malice toward none and charity toward all.

Watch how the conversation went on radio HERE:

A pre-Inauguration Day plea: You wield MUCH more power than you know youtu.be


Early Monday morning, Amazon Web Services removed social networking platform Parler from its cloud servers. This comes just after Apple and Google removed the Parler app from their app stores over the weekend.

"You can't find them on the internet anymore. They're gone," Glenn Beck said on his radio program Monday.

"This is something I warned you of four years ago ... because a profound technological change is coming," he continued. "I told you, at the time, high tech will need the government, and the government will need high tech. And they will work together to preserve their power and their position. This is what's happening, today."

Glenn said he believes the "far left" has been talking about breaking up companies like Parler for years, and that the Capitol riots provided the opportunity they needed.

"This is not the end of this. This is where the Left is starting," he warned. "Those who persist in standing for freedom of speech, freedom of expression, freedom to assemble, freedom to keep and bear arms, those people will be targeted for deletion. You will be hounded, boycotted, fired, ostracized, and de-platformed. And the louder and the more significant and effective your voice is, the bigger the target is on your back.

"But, let me say this: I will never stop standing for freedom of speech, freedom of expression, freedom to assemble, freedom to keep and bear arms, and all of the rest of the Bill of Rights. That is the American thing to do."

Watch the video below for more from Glenn:


Want more from Glenn Beck?

To enjoy more of Glenn's masterful storytelling, thought-provoking analysis and uncanny ability to make sense of the chaos, subscribe to BlazeTV — the largest multi-platform network of voices who love America, defend the Constitution and live the American dream.

Glenn Beck: This is the REAL Raphael Warnock and our new 'national religion'

Photo by Justin Sullivan/Getty Images

Multiple news outlets have called one of Georgia's Senate runoff elections for the Rev. Raphael Warnock, the Democrat who defeated Republican incumbent Sen. Kelly Loeffler.

So, on the radio show Wednesday, Glenn Beck looked into what this "radical preacher" has been saying in the past — and what he'll likely bring to the U.S. Senate in the future.

"Warnock is in one of the most influential and powerful stages of the country. And I use the word 'stage' intentionally," Glenn said. "It's the pulpit. He's the guy who says, if you voted for Donald Trump, well, you're a sinner."

Glenn introduced a video clip in which Warnock asserts:

If it is true that a man who has dominated the news and poisoned the discussion for months needs to repent, then it is doubly true that a nation that can produce such a man and make his vitriol go viral, needs to repent. I know, no matter what happens next month, more than a third of the nation that would go along with this, has reason to be afraid. America needs to repent for its worship of whiteness!

"So, (according to Warnock) you should be afraid," Glenn said. "Oh, and whiteness is evil. And, somehow or another, America has been worshiping whiteness ... see, critical race theory is now our new national religion."

Watch the video clip below to hear more from Glenn:


Want more from Glenn Beck?

To enjoy more of Glenn's masterful storytelling, thought-provoking analysis and uncanny ability to make sense of the chaos, subscribe to BlazeTV — the largest multi-platform network of voices who love America, defend the Constitution and live the American dream.

Nancy Pelosi and her growing ensemble of radical leftists are making sure that 2021 will be just as terrible as 2020 — terrible, and forcefully gender-neutral. The 117th Congress convened on Sunday, and on Monday, they shifted the goalposts by approving a 45-pages rules package, "H. Res 7," in a 217 to 206 vote. The Rules Package is the brainchild of Speaker Nancy Pelosi and Rules Committee Chairman James McGovern (D-MA).

Yesterday, in a speech to the House, Republican Rep. Tom Cole described the proposals as "some of the harshest and most cynical that I've experienced during my time in Congress." Congressman Steve Scalise accurately called it a "Soviet-Style rules package. ... designed to take away the voice of 48% of this chamber."

Some of the many wild rule changes include a continuation of proxy voting during the coronavirus pandemic, a ban on lawmakers convicted of certain crimes from visiting the House floor, and of course what would Democrats be without their hatred for Donald Trump? With the rule changes, they've found a way to attack Trump even after he's left office. They've added provisions that allow them to send subpoenas to former Presidents, former VPs, and former White House staff long after their administration has left the White House.

They've added provisions that allow them to send subpoenas to former Presidents, former VPs, and former White House...

Pelosi called the plan a "visionary rules package" which "reflects the values of her diverse Democratic majority," framing the proposal as a departure from ignorance, with that elitist under-handed way of condescending to non-woke Americans. She called them "future-focused proposals," as if conservatives and Republicans aren't worried about the future. Democrats honestly believe this. Believe that we pray to God for the destruction of the future, whatever it means. Although, Democrats are certainly not the authority on prayer: They can't even say one without jamming it full of woke inanity. And "inanity" is the word for it. Because the Democrats have devolved into utter nonsense.

In the news cycle, stories get buried. It feels like we're all constantly putting out fires. Politicians love this: Just about every controversy vanishes quickly. Shady legislation goes unnoticed. The mainstream media isn't going to report on this, not with any semblance of honesty or critical thought. As always, they're more interested in attacking Donald Trump. So it's up to us to ask, "Wait a minute, you're doing what now?"

You may be thinking, "How do the rules for the House of Representatives affect me?" Because you can tell a lot about a person by the way they run their house, or in this case their workplace. If this is how they want to conduct their workplace, I'm terrified to see how they'll run the country. Because, even though it will require ethical breaches and severe overreach, that's exactly what they're about to do, including a rule that keeps the House Minority from amending legislation on the floor.

In true leftist fashion, Democrats have projected their own injustices on Republicans. Like how the bill refers to the new rules as "sweeping ethics reforms," the implication being that there were ethical violations that demanded reforming.

Yesterday, House Minority Leader Kevin McCarthy said it best, delivered a scathing rebuke of House Democrats. I recommend watching the whole thing. In particular, he took umbrage with the way the rules violate our freedom of speech, the most important right that we have as Americans.

He's right: This hatred for free speech began in academia. Specifically, from the Marxist radicals who promote and adhere to Critical Theory. We conservatives have spent so much time on Critical Race Theory, but we're missing the bigger picture. Critical Race Theory is just a wart on the looming monster known as Critical Theory. If you think the riots were bad, if you thought sports had become overrun by woke politics, if you thought colleges were bad already — you better get ready for the ideological tidal wave, because it's so about to be much worse. The whole thing is Critical Theory gone wild. I'll tell you why in a moment. First, let's look through the details.

Gender

The resolution aims to "make this House of Representatives the most inclusive in history," and opens by formally establishing the Office of Diversity and Inclusion. An entire department within the lower house of Congress devoted to bringing Critical Theory to life."Inclusion and diversity," two concepts entrenched in Critical Theory inanity. The left would call them "dog whistles," seemingly innocuous words that signal something evil. Apparently, inclusion and diversity are the reason House Democrats felt the need to change the name of the Office of the Whistleblower Ombudsman, "to the gender-neutral Office of the Whistleblower Ombuds."

Then they really lose it in subsection e: "Gender-Inclusive Language." This section "modernizes the use of pronouns, familial relationship terminology, and other references to gender in order to be inclusive of all members, delegates, resident commissioners, employees of the House, and their families."

In other words, the standing rules will now be gender-inclusive. ''Seamen'' will now be ''seafarers." ''Chairman'' is ''Chair." And one clause of House rules removed the terms father, mother, son, daughter, brother, sister, uncle, aunt, first cousin, nephew, niece, husband, wife, father-in-law, mother-in-law, son-in-law, daughter-in-law, brother-in-law, sister-in-law, stepfather, stepmother, stepson, stepdaughter, stepbrother" — you get the idea.

The new rules also require "standing committees to include in their oversight plans a discussion of how committee work over the forthcoming Congress will address issues of inequities on the basis of race, color, ethnicity, religion, sex, sexual orientation, gender identity, disability, age, or national origin; honor all gender identities by changing pronouns and familial relationships in the House rules to be gender-neutral."

Free Speech

One of the most egregious parts of the rules changes is the way they'll compromise free speech. Democrats want to protect free speech only if it's something they agree with. They've taken this to villainous extremes.

Deep Fake Media

●The Democrat rules package also made it an ethics violation for members to knowingly distribute "deep fake" media.

●The wording is vague, and could easily encompass conservative media. What do they mean by fake media? Memes? Articles? Jokes? Op-eds? "regulations addressing the dissemination by electronic means of any image, video, or audio file that has been distorted or manipulated with the intent to mislead the public.

●It applies not only to Representatives' official accounts but also to their personal accounts, a clear violation of free speech. "They would penalize any member who shares news or views that liberals and their allies in the media deem 'fake.' They actually make it an ethics violation, which is usually reserved for such unbecoming conduct as bribery and corruption."

Pay As You Go (PayGo) Exemptions

●The new rules also weaken PayGo, a budgetary-control measure that limits "Tax and Spend" policies and requires Congress to offset spending on bills that would increase the deficit.

●They are the payment rules on legislation related to the virus and climate change that previously required lawmakers to identify new revenue sources or spending cuts to fund their priorities.

●Democrats will now be able to force through any legislation regardless of the cost, and for legislation like the Green New Deal. Yet AOC actually had a problem with this caveat, but of course, her reason for opposing it is as asinine as you'd expect.

The Motion to Recommit (MTR)

Congress is a majoritarian institution. They govern themselves, as long as it doesn't violate the Constitution. Since Democrats regained the majority two years ago, they have treaded that line and I would say that they've been downright unconstitutional. For those entire two years, they boasted that in 2020 they'd sweep Congress, all of it, but especially The House of Representatives. They were wrong, and now they have the slimmest majority in years. And I'm positive that their hubris is largely responsible.

They were wrong, and now they have the slimmest majority in years.

Since the creation of the modern party system shortly before the Civil War, there have been 18 House majority changes, with Democrats in power the most.

●The motion to recommit provides one final opportunity for the House to debate and amend a measure, typically after the engrossment and third reading of the bill, before the Speaker orders the vote on final passage. ... The motion does not delay or kill the bill. MTR gives the Minority, and by extension their constituents, a voice by denying them the chance to debate a bill on the floor.

●It's been around since the House was founded, and in its present form since 1909. In 1919, Rep. Abraham Garrett said that "The Motion to Recommit is regarded as so sacred, it's one of the few rules protected against the Committee on Rules by the General Rules of the House."

●When Pelosi was in the Minority, she described the MTR as grounded in the Free Speech guaranteed by our constitution. Anytime the Republicans had the majority, they never even considered cutting off MTR.

Democrats shifted the goalposts by redefining words, by degrading the current meanings, and by trying to convince us that we are fundamentally immoral. It's textbook Critical Theory: attack our sense of reality, our understanding of knowledge, our guiding beliefs, and, now, our most fundamental rights.

We've entered the era of Critical Theory. Wokeness is the new law.

Literally.

The time for metaphors is over; the House of Representatives just instituted wokeness into policy. They're still not saying the quiet part aloud. Critical Theory allows for this. Saddle up to the new normal. The new authoritarianism. Just like how nobody took 20 seconds to hop on Wikipedia and check the etymology of "amen", none of the Democrats have really thought out their plan.

Article I, Section 8 of The Constitution delineates the powers granted to the Congress, one of which is "to provide for calling forth the militia to execute the laws of the Union, suppress insurrections and repel Invasions."

Well, lately, America has been overrun by insurrections and invasions and Congress can't do much about it because they're in on the insurrection. Significant factions within the legislative branch have encouraged these insurrections, they have validated the invasive radicals who threaten to destroy our country. And they've done it under the auspices of furtherance. Of being progressive. Of not being racist, or transphobic, or whatever insult is trendy on woke Twitter.

The time for metaphors is over; the House of Representatives just instituted wokeness into policy.

They're saying, "surrender some of your rights, some of your luxuries, some of your privileges — you have so many, you don't deserve them — and you'll make the world a smidge better." It's the kind of ideology that shreds through people like they're nothing and it is swallowing America whole. Once they change the rules and they change the words, you're living a real-life version of Orwell's 1984. What we need in a moment like this are strong people willing to face the wrath of a Leftist establishment that is all too happy to watch the world burn.

McCarthy talked about how people were feeling this indignation. Well, Kevin, I want you to know, it's not just you. I feel it. I think more than 70 million Americans feel it.


WATCH HIS FULL SPEECH HERE:

Leader McCarthy Slams Democrats' House Rules Package youtu.be


It's not going away any time soon.

And today, I ask that you just prepare mentally, for a rough road ahead. But one that we win in, in the end. And I can say it with confidence because I know the truth, will always set people free.

The truth will always prevail.