Colbert Mocks Cable News Pundits For Having No Idea If We’re in a Recession: ‘Like You Wandered Blindfolded Into a Cave’

Stephen Colbert mocked reporting on the recession by CNN and MSNBC for seeming totally clueless.

During Thursday’s The Late Show with Stephen Colbert, he stated what the definition of a recession is and played clips of CNN and MSNBC doing the Biden administration’s bidding in avoiding calling that day’s report showing GDP declining for the second consecutive quarter a recession.

“So, we’re in a recession. Or are we?” said Colbert. “According to the White House, two consecutive quarters of economic contraction does not, in and of itself, constitute a recession.”

“Thankfully, we have cable news to cut through all the spin and give us some straight answers,” he then set up the clips by asking questions they might answer. “CNN, we’ve had back-to-back quarters of negative growth. What does that mean historically?”

He played a clip of CNN’s Matt Egan saying, “Every single time since 1948 that you’ve had back-to-back quarters of negative growth, you’ve had a recession, every time.”

“So, that’s the case this time,” said Colbert.

“That may not necessarily be the case this time,” said Egan.

“Okay. Still, recession-wise, we should be able to use history as a guide, right, MSNBC?” asked Colbert.

He played a soundbite of Financial Times editor-at-large Gillian Tett saying on MSNBC, “We really don’t know how far we can or cannot use history as a guide.”

“Sure,” said Colbert. “But at the bare minimum, on the GDP next quarter, up or down?”

He played a clip of CNN’s Christine Romans saying, “This is a number that could turn positive, it could turn more negative.”

“Okay. Last question: do you need any qualifications at all to go on TV and talk about the economy?” said Colbert.

Watch above, via CBS.