We are officially in a Recession.

[The Duke]

If it's true we've seen 7 months of rapid job creation this year (+3.3 million jobs through July), and two consecutive quarters of negative growth, which of the two economic indicators is more likely a statistical fluke?
"AUGUST 22, 2022

"Inflation: Where Are We Now?​

BY DEAN BAKER"
"In this respect, it is worth noting Gross Domestic Income (GDI) grew at a 1.8 percent annual rate in the first quarter.

"In principle, GDI should be the same as GDP, since it is just measuring the income side of the GDP equation.

"While the two measures never measure up exactly, the size of the divergence in the first quarter was extraordinary.

"This is consistent with the view that GDP for the quarter may be revised upward. (We don’t have GDI data for the second quarter yet.)"

There are food and fuel shortages coming soon to a town near you.

 

[beagle9]

There are food and fuel shortages coming soon to a town near you.

Just look at that dude, can you believe we are being led by a president that has that distant stare in his eyes ? Obama has since obtained through that entrenched old power hungry politician (a third run as president), and let no one tell us otherwise.

 

[Ringo]

d two consecutive quarters of negative growth

negative growth? When we start calling dead people negative alive ?

 

[georgephillip]

There are food and fuel shortages coming soon to a town near you

Who gets rich(er) from that?

Corporate profit is at a level well beyond what we have ever seen, and it's expected to keep growing

Capitalism allows the owners of the means of production ( ~1% of society) to decide what to produce, where to produce it, and how to distribute any surplus, so it's hardly surprising wealth and income will become concentrated in fewer and fewer hands with each passing generation.

 

[The Duke]

Who gets rich(er) from that?

Corporate profit is at a level well beyond what we have ever seen, and it's expected to keep growing

Capitalism allows the owners of the means of production ( ~1% of society) to decide what to produce, where to produce it, and how to distribute any surplus, so it's hardly surprising wealth and income will become concentrated in fewer and fewer hands with each passing generation.

I'm not worried about who gets richer, I'm worried about who gets poorer and starves and misses work and freezes, things like that. There's going to be a lot of neighbors and friends and family pulling together just to make it; And not everybody has that.

 

[The Duke]

Just look at that dude, can you believe we are being led by a president that has that distant stare in his eyes ? Obama has since obtained through that entrenched old power hungry politician (a third run as president), and let no one tell us otherwise.

Obama's back for an illegal 3rd term. He's smart, he's ruthless, and he hates America and Americans.

 

[Harpy Eagle]

Calm down Francis, and do your due diligence on the history of Climate's upon this earth. If you think that man has the ability to destroy what God has created, then you have placed man above God. That is pure evil in which you dwell in, because man is but a mere spec that is smaller than a magnifying glass can detect when it comes to the universe, and all that exist within it. So don't flatter yourselves that you think that you could ever control the climate on a global scale. Our enemies await our idiotic demise on the scale.

Climate change proponents do not claim it will destroy the planet, just make it not as conducive for human life to flourish. Which could be seen as to fulfilling certain prophecy from the book of Revelations

 

[Harpy Eagle]

There are food and fuel shortages coming soon to a town near you.

No matter how badly you want this to come to pass, it is not going to happen.

 

[The Duke]

No matter how badly you want this to come to pass, it is not going to happen.

Oh? Why has the price of diesel not dropped any?

There's famine coming, you just have your head up your ass.

 

[Harpy Eagle]

Oh? Why has the price of diesel not dropped any?

There's famine coming, you just have your head up your ass.

All the wishful thinking in the world is not going to make that happen.

Has to suck to be you and need to hope for such things just to win a few more votes in the next election.

 

[georgephillip]

I'm not worried about who gets richer, I'm worried about who gets poorer and starves and misses work and freezes, things like that. There's going to be a lot of neighbors and friends and family pulling together just to make it; And not everybody has that.

Lately I've began wondering if Putin and Biden are using the killing in Ukraine as a distraction from an impending global depression with economic consequences that will dwarf any in living memory?

There's a theory that every four generations (roughly 80 years) history repeats itself.
Here's one prognostication written in 1995-96:

The Fourth Turning: An American Prophecy

"The next Fourth Turning is due to begin shortly after the new millennium.

"Around the year 2005, a sudden spark will catalyze a Crisis mood.

"Remnants of the old social order will disintegrate. Political and economic trust will implode. Real hardship will beset the land, with severe distress that could involve questions of class, race, nation, and empire.

"Yet this time of trouble will bring seeds of social rebirth.

"Americans will share a regret about recent mistakes -- and a resolute new consensus about what to do.

"The very survival of the nation will feel at stake.

"Sometime before the year 2025, America will pass through a great gate in history, commensurate with the American Revolution, Civil War, and twin emergencies of the Great Depression and World War II."

 

[The Duke]

All the wishful thinking in the world is not going to make that happen.

Has to suck to be you and need to hope for such things just to win a few more votes in the next election.

There will be plenty of votes in the next election. Not many Americans have escaped the

Bidenflation, brah.

85% say the country is headed in the wrong direction, and

when the people get a chance to effect a change in course, they most certainly will.

Bipartisan dissatisfaction with the direction of the country and the economy - AP-NORC

Nearly all Republicans feel the country and economy are headed in the wrong direction. Three-quarters of Democrats agree.

apnorc.org

 

[Harpy Eagle]

There will be plenty of votes in the next election. Not many Americans have escaped the

Bidenflation, brah.

85% say the country is headed in the wrong direction, and

when the people get a chance to effect a change in course, they most certainly will.

Bipartisan dissatisfaction with the direction of the country and the economy - AP-NORC

Nearly all Republicans feel the country and economy are headed in the wrong direction. Three-quarters of Democrats agree.

apnorc.org

and yet your beloved party might only get about 25 new seats in the House and will not take the Senate.

This is what happens when people are stuck choosing between a punch to the head or a punch to the gut

 

[otto105]

and yet your beloved party might only get about 25 new seats in the House and will not take the Senate.

This is what happens when people are stuck choosing between a punch to the head or a punch to the gut

If they even get that in the House.

 

[beagle9]

All the wishful thinking in the world is not going to make that happen.

Has to suck to be you and need to hope for such things just to win a few more votes in the next election.

Don't be caught on the wrong side of history, because in the end judgement will be harsh for those who supported the evil doings of men who are evil knowingly..

This wilful support would bring about the second death after the great throne of judgement is completed. Jesus is the answer, and there is still time to turn so that you don't burn..

 

[Harpy Eagle]

Don't be caught on the wrong side of history, because in the end judgement will be harsh for those who supported the evil doings of men who are evil knowingly..

This wilful support would bring about the second death after the great throne of judgement is completed. Jesus is the answer, and there is still time to turn so that you don't burn..

Something about getting Christian advice from one of the least Christ like people on the forum just a tad ironic.

 

[georgephillip]

negative growth? When we start calling dead people negative alive ?

Since the 1980s the US economy's been in a long cycle in which increasing bank credit has inflated prices for real estate, stocks and bonds, encouraging borrowers to expect that capital gains will continue. Speculation gains momentum on credit and debts rise almost as rapidly as asset valuations.

Finance is Not the Economy

"When the financial bubble bursts, negative equity spreads as asset prices fall below the mortgages, bonds, and bank loans attached to the property.

"We are still in the unwinding of the biggest bust yet. (8/2016)

"This collapse is the inevitable final stage of the 'Great Moderation.'"

And then came Covid.

 

[iceberg]

In this case it is relative.. i’m not here to teach you economics. Please get educated before you post

the only thing making it "relative" is the timing,

they are still different measures of the economy. you can try to argue set and subset but then which is the bigger set?

either way, they're still different.

 

[iceberg]

Don't be caught on the wrong side of history, because in the end judgement will be harsh for those who supported the evil doings of men who are evil knowingly..

This wilful support would bring about the second death after the great throne of judgement is completed. Jesus is the answer, and there is still time to turn so that you don't burn..

i feel like a new guns and roses song is about to kick in now.

 

[beagle9]

Something about getting Christian advice from one of the least Christ like people on the forum just a tad ironic.

What makes me the least Christ like in your mind ? No one is perfect but you all on the left right ? You all are spotless. If I can only match your purity, then I would ensure my place in heaven... Wait what, uhhhh wait a minute here, maybe that place is somewhere else if I were to follow your lead. ROTFLMBO.