If a recession is 2 consecutive quarters of negative GDP growth,we started the Biden recession yesterday, -1.4% in Q1 and -2.1% in Q2.

[ColonelAngus]

Buckle up. We are fucked.

The Fed went from a Q2 estimate of -1% Thursday to -2.1% yesterday.

That is the classic definition of a recession. Congrats everyone.

https://www.atlantafed.org/-/media/Documents/cqer/researchcq/gdpnow/RealGDPTrackingSlides.pdf

 

[excalibur]

TBH the 2nd quarter numbers aren't official yet. The official first estimate won't be out until July 28, with two more estimates to follow.

Release Schedule | U.S. Bureau of Economic Analysis (BEA)

www.bea.gov

 

[Rambunctious]

 

[ColonelAngus]

Its the Atlanta Fed estimate. You have a point, it could be much worse.

 

[ColonelAngus]

You lefties can IGNORE economic laws, but they are still there.

You could ignore the law of gravity and jump off your roof….

 

[ozro]

Aren't we usually already in recession by the time the government reports it?

 

[ColonelAngus]

The Fed didnt change the estimate UP on Thursday, they changed the estimate DOWN.

 

[johngaltshrugged]

So went from a high estimate of about 2.5% growth now to a more realistic but overly optimistic -2.1% contraction.
I'd do the math here on how far off they they were but I wouldn't know where to start & I'm wearing shoes, which makes higher math much more difficult.

You'd get fired in the real world for being that bad at your job.

 

[ColonelAngus]

How will the media and Dems try to spin this?

Poot?

 

[Stormy Daniels]

It's not like this wasn't expected. The real question is, how severe will it be and long will it last?

A recession combined with a labor shortage is an interesting mix, wouldn't you agree?

 

[Thinker101]

It's not like this wasn't expected. The real question is, how severe will it be and long will it last?

A recession combined with a labor shortage is an interesting mix, wouldn't you agree?

Yep, ole potatohead said it wasn't inevitable, more like it was engineered by all the clowns you ass-wipes voted in.

 

[Flash]

This country is so screwed with Potatohead.

We warned these Moon Bats that Biden was going to be a disaster but they morons didn't listen.

 

[BluesLegend]

Biden: Stop complaining you peons, my recession is a tremendous opportunity to transition to electric vehicles.

 

[Flash]

 

[Burgermeister]

And right on cue, the White House is redefining recession:

 

[Slade3200]

Buckle up. We are fucked.

The Fed went from a Q2 estimate of -1% Thursday to -2.1% yesterday.

That is the classic definition of a recession. Congrats everyone.

https://www.atlantafed.org/-/media/Documents/cqer/researchcq/gdpnow/RealGDPTrackingSlides.pdf

Who says that’s the definition of recession? There are no other factors they consider?

 

[Thinker101]

Who says that’s the definition of recession? There are no other factors they consider?

 

[struth]

Stormy Daniels agreed anyone with half a clue expected this to happen once the dems were put in charge. The real surprise is just how bad inflation has gotten

 

[struth]

Who says that’s the definition of recession? There are no other factors they consider?

i get you all can’t define woman, or at least are trying to change it…along with a number of other words…so not surprised by your post

 

[otto105]

You lefties can IGNORE economic laws, but they are still there.

You could ignore the law of gravity and jump off your roof….

What is GDPnow?

Exactly.