Oh for the best.

Expect the worst. Expect the worst.

Some drink champagne, some die of furs.

A furs.

No way of knowing which way it's going.

Hope for the best expect the worst.

Welcome to the commentary magazine daily podcast.

Today is Thursday, July 28, 2022.

I'm John Puthortz, the editor of Commentary magazine with me as always executive editor A

Greenwold hi Abe I John media commentary columnist Christine

ros and hi Christine hi John an associate editor and author of the rise of the New Puritans, Noah, Hi, hi, hi,

hi, dad was that, Noah. Hi Ron.

I wrote, Ron.

Hi, Rastro rank, okay so the economy a shrunk for the second straight quarter by is it 0.2% I believe.

0.9 just under a percent. Oh my God.

0.9 I'm sorry.

All right, so I just want to point out two things, one of which is that

the, this is bad news, It's incredibly bad news. And we are rewriting the laws of economics not that there are laws to economics, but we shouldn't there shouldn't be a recession at a time of

labor shortage and it's even a little hard to have a recession at a time of

high inflation so something new is going on here that economists don't understand and that is very confusing. The second thing is that we began hearing at the beginning of the week all this talk from Bryan,

is the chairman of the Council of Economic Advisors and others that we should not say that two quarters of consecutive negative growth constitutes a recession,

that we shouldn't say that. That's not how recessions are determined,

...