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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.
What are you talking about?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.
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.
You do realize that recessions are absolutely necessary for economies?The second quarter growth rate has yet to be published but here you are overjoyed that the USA is in recession on July 2nd, no less.
Are you such a partisan hack that you want to wish ill on your nation to help promote Republicans????? Party over country with this cult, no matter happens to your nation or your people.
THIS is why Republicans are such abject political failures.
Those estimates are not from the Atlanta Fed.What are you talking about?
These are estimates from the Atlanta Fed.
How can they be off if the actual numbers are not in yet?
You do realize that recessions are absolutely necessary for economies?
They readjust price abnormalities.
They bring market forces back to where they should be.
Recessions are NOT bad.
And they help to stop economies from falling into depressions.
They are like a pressure-release valve on an economy that is overheating (in one form or another).
They are only bad for people who are not prepared for them.
Which is almost always - their own, damn fault.
Nice, who made your photo?
Just a question. Care to answer?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
Where did I say that recessions should never happen???? My only comment was that the OP was gleefully declaring a recession on July 2nd on the basis of forecasts, not facts, - before ANYONE had published the actual GDP numbers for Q2, which still haven't been published.
He's not praying for a recession because he thinks it's a good thing for the country. He's praying for a recession so that Republicans will retake the House, and crash the economy - again. There is no way you're ever going to get a member of the Trump Cult to accept recessions as a good and necessary thing in a capitalist economy.
I strongly disagree with your last paragraph. Use your head, man. If you are dependent on government assistance for either food or housing, how the hell are you going to be able to "prepare" for a recession, if you don't even earn enough money to support you family in the first place.
The truly remarkable thing about conservatives expecting the poor to "prepare for a recession", is that they don't expect rich people to do the same. Every time the economy crashes, the government bails out the big corporations, and the billionaires who are losing money in the recession, but not working Americans and especially not low income Americans, the people who suffer the most economic loss in a recession. Your economic system has devolved into "private profits in good times, and government bailouts during the recessions" for companies which are now deemed "to big to fail". The rich get richer and working people get nothing.
Notice how quick the Trump Administration was to pass the Payroll Protection Act, and give billions of dollars to airlines, cruise ship companies, and big chain restaurants, none of which helped the millions of Americans who had already LOST their jobs or who worked for companies that didn't get any money. They forced small independent retailers to close and let Walmart and other big box stores stay open.
The whole purpose of the "social safety net" in First World Countries, is to cushion the blow of economic downturns and recessions for low income and middle class citizens who suffer the most economic displacement in a recession. The people with the least economic control or power, are the ones who need the most assistance. Stop blaming them for "not being prepared".
The USA has the largest wage and wealth gap in the first world, and the weakest social safety net, infrastructure, and public education network in the first world. That's why your middle class is shrinking, and it gets smaller and smaller as wealth continues to consolidate at the top.
The fact that contraction has almost doubled makes it almost assured that our recession will become a depression. Next quarter will tell the tale. Biden is making Jimmy Carter look like a genius...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.
The GDPNow estimates are from the Atlanta Fed.Those estimates are not from the Atlanta Fed.
Never mind the power grid can't handle the load and you might freeze to death this winter.....Biden: Stop complaining you peons, my recession is a tremendous opportunity to transition to electric vehicles.
The Q4 results were nothing but a recovery - that almost ALL countries went through - from the Covid Depression.GDP growth in 4th QTR 2021 was 6.9%
In first QTR 2022 was -1.6%
I'm looking at an increase of about .5% in 2nd QTR 2022 with increased fluctuance from margo-largo.
tradingeconomics.com
It was literally already answered for you.Just a question. Care to answer?
www.lexico.com
Make up your mind.
First you condemn the guy for seeming to be happy about a recession.
Then you claim you are not against recessions.
Your post was nothing but a pathetic, hate on all reps.
And if you think I wasted my time reading anything more than the first sentence of your diatribe?
That was also probably full of hate and bile for anyone who dares to vote Rep?
You are wrong.
Bye now.
Once again, I despise both parties.
Well there you go! That wasn’t so hard now was it?It was literally already answered for you.
Dictionary.com | Meanings & Definitions of English Words
The world's leading online dictionary: English definitions, synonyms, word origins, example sentences, word games, and more. A trusted authority for 25+ years!
A period of temporary economic decline during which trade and industrial activity are reduced, generally identified by a fall in GDP in two successive quarter
Well there you go! That wasn’t so hard now was it?
I wondered, because the business channels make a big deal of designations like that, and yet the Dow is a little up.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.
