On Monday’s broadcast of the Fox Information Channel’s “Your World,” Home Majority Whip Rep. James Clyburn (D-SC) acknowledged that there isn’t any query that “for a lot of people,” we’re already in a recession and that “If you can’t afford to buy gasoline, you are in a recession.” Clyburn additionally acknowledged that whereas this is happening, “The investor class” and company executives are doing simply wonderful and are nonetheless being profitable though some particular person buyers are shedding cash available in the market proper now.
Host Neil Cavuto requested, [relevant remarks begin around 3:30] “I think a lot of them are alarmed by what’s happening with the economy. I know the president says we’re not in a recession. Others disagree with that. Just out of curiosity, do you think we are in a recession?”
Clyburn responded, “Well, for a lot of people, we are. There’s no question about that. If you can’t afford to buy gasoline, you are in a recession. The investor class in this country is not losing any money. Individuals? Yes. But as a class, investors are still making money. Corporate execs are making plenty of money. That’s not the issue.”
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