Furniture CEO Reality-Checks Dems: 'Anybody Who Thinks We're Not in a Recession Is Crazy'

The White House has quibbled over the definition of a recession as their effort to spin a positive narrative into the midterm elections has, like much of President Joe Biden’s tenure, sunk to Orwellian depths.

Cutting through the agenda-driven noise, one CEO gearing up for worse times to come called it as it is Thursday when he told investors, “Anybody who thinks we’re not in a recession is crazy.”

Gary Friedman, CEO of the luxury furniture retailer Restoration Hardware (RH), held an earnings call where third-quarter expectations were discussed late Thursday and the outlook of revenues dropping as much as 18 percent compared to 19 percent gains in the year prior was just one of several bleak predictions assessments made, according to CNN.

“I don’t know, people keep saying, are we going to be in a recession?” he pointed out as he spoke with investors. “We’re in a recession.”

“Anybody who thinks we’re not in a recession is crazy,” Friedman added. “The housing market is in a recession, and it’s just getting started. So it’s probably going to be a difficult 12 to 18 months in our industry.”