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And right on cue, the White House is redefining recession:
It IS the Biden Democrats that are doing this recession, with their lockdowns and all the bad stuff going on.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.
They did mess up on the stupid "no inflation here" comments. It's NOTNOTNOT sky high, though: I read a whole book on the 1923 German hyperinflation and we do NOT want that. There's nothing like hyperinflation, and some countries (Zimbabwe, Argentina, others) just can't seem to leave it behind.Biden tards are already claiming it's not a real recession. Just as they claimed inflation was transitory, followed by 13 straight months of sky high inflation.
The definition may have been around for a while, but it hasn’t been used, Simp.The White House is not redefining it. That definition has been around for many years. Here's an article on NBER.org from 1997 about it...
Business Cycle Expansions and Contractions
Business Cycle Expansion and contraction dates for the United States Economyweb.archive.org
The definition may have been around for a while, but it hasn’t been used, Simp.
Two consecutive quarters of negative GDP = Recession.
none of your Dimtard spin will change that.
It IS the Biden Democrats that are doing this recession, with their lockdowns and all the bad stuff going on.
Hey, we don't make the news, we just report it. It is obvious recession is coming, WITH inflation as an added extra.
Let's see, when does the July inflation count come out ---- sometime in August. It's been going up steadily.
Nonsense, governments OFTEN set out to cause a recession: never heard of the "Greenspan put"? And that was only the most recent one of two more I can think of just in this country. Germany certainly did it on purpose in 1923, and that one was a whopper. Led to the rise of Hitler, of course.Governments don't "do recessions". No government EVER sets out to cause a recession. Recessions happen when the economy becomes too overheated, when prices rise beyond people's ability to pay, and supply exceeds demand. Then the economy corrects and contracts.
I will also be very interested in seeing the inflation numbers for July. Biden, of course, will have had nothing to do with ameliorating the recession and inflation if it does improve: that will be wholly the independent Federal Reserve. Biden is the problem, not the solution. The more his administration pumps up the panic about pandemics, the worse the economy will get: I notice they have downplayed Biden catching Covid himself. That means everything they told us is a lie --- vaccinations, boosters, masks, etc., etc., but we already knew that.Biden seems to be coping with the economy well, but the continuing waves of covid in red states aren't going to help much. It'll be interesting to see the inflation numbers for July.
I know reading comprehension is not a priority for lefties but surely even you can realize I was talking about estimates & the giant discrepancies in what they predicted early in the qtr & where they currently stand now?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?
Congrats - you are 2/2 now in ridiculous posts that make NO sense.I know reading comprehension is not a priority for lefties but surely even you can realize I was talking about estimates & the giant discrepancies in what they predicted early in the qtr & where they currently stand now?
I don't have a coloring book for you to follow along but maybe you can ask your mom for more info?
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.
Then again, one started in December, 2007, and lasted until June, 2006,Of course it's been used.
US Business Cycle Expansions and Contractions
www.nber.org
In 2001, we had a recession despite not having two consecutive quarters of negative growth. Then again, one started in December, 2007, and lasted until June, 2006, despite positive growth in Q2-2008 following just one quarter of negative growth in Q1-2008
As always, you prove to be a glutton for punishment who seemingly enjoys getting bitch-slapped by others.
Wow, you come up with that all on your own or did moms' help out? Wanna teach me more about economics & forecasts, Captain Obvious?Congrats - you are 2/2 now in ridiculous posts that make NO sense.
1) I am not a lefty (or a righty). And if you had read any of my other posts in this thread - that would be OBVIOUS.
2) what the 'f' is your point?
You are making NO SENSE.
3) your post shows that you clearly have no idea what the GDPNow is or how they reach their numbers.
Of course the numbers change as the quarter's go on.
As each new piece of economic data comes in?
They modify the GDP growth of the country.
Got it yet?
Wow, you come up with that all on your own or did moms' help out? Wanna teach me more about economics & forecasts, Captain Obvious?
What is your point? They released a very unrealistic progjection & then had to make massive revisions as reality started to sink in. It was a case of gaslighting the public until forced to acknowledge the obvious.
I point out how bad they are at the job because they were so far off.
I'm not wrong & you want to deflect with a strawman argument
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Then again, one started in December, 2007, and lasted until June, 2006,
That isn’t possible, you blithering idiot.
