We are officially in a Recession.

[45thPatriot]

Joe Biden in the Democrat party have officially put us in a recession

US economy enters technical recession after growth tumbles 0.9% in the second quarter

The Commerce Department released its first reading of second-quarter GDP data on Thursday, offering fresh insight into the health of the U.S. economy as inflation rages.

www.foxbusiness.com

 

[AzogtheDefiler]

As they did with the definition of woman, they have redefined what a recession is.

 

[Couchpotato]

Joe Biden in the Democrat party have officially put us in a recession

US economy enters technical recession after growth tumbles 0.9% in the second quarter

The Commerce Department released its first reading of second-quarter GDP data on Thursday, offering fresh insight into the health of the U.S. economy as inflation rages.

www.foxbusiness.com

No the WH changed the definition of what it means to be in a recession so it's fine. There's no problem with the economy.

 

[Couchpotato]

Oh which reminds me. Has the Russian economy collapsed yet?

 

[45thPatriot]

Oh which reminds me. Has the Russian economy collapsed yet?

Actually no China and Russia economy is actually doing very well.. which reminds me we have to send Ukraine another $500 billion

 

[Couchpotato]

Actually no China and Russia economy is actually doing very well.. which reminds me we have to send Ukraine another $500 billion

I wonder who long we will keep that up before understanding that Russia isnt going to lose this war. Though it seems the media has woken up to the fact that Ukraine might be a bit corrupt and sending a bunch of cash over there without some accounting of it might not have been the best idea.

 

[45thPatriot]

I wonder who long we will keep that up before understanding that Russia isnt going to lose this war. Though it seems the media has woken up to the fact that Ukraine might be a bit corrupt and sending a bunch of cash over there without some accounting of it might not have been the best idea.

Well the media will report ukraine is winning ,, and zelenski will keep adding to his interment camp.

 

[Woodznutz]

"Recession".
Definition: Where interest rates rise and I earn more on my savings.

 

[Harpy Eagle]

So. maybe someone here can help me out.

Other than losing a job, what is the biggest hardship for an individual during a recession?

If one does not lose a job and works during the recession, would they even notice it was happening?

 

[45thPatriot]

So. maybe someone here can help me out.

Other than losing a job, what is the biggest hardship for an individual during a recession?

If one does not lose a job and works during the recession, would they even notice it was happening?

Umm gas, Diesel costume groceries have gone up, I know I can’t buy the same stuff I used to buy. Baby Formula is almost gone From our shelves.

 

[Harpy Eagle]

Umm gas, Diesel costume groceries have gone up, I know I can’t buy the same stuff I used to buy. Baby Formula is almost gone From our shelves.

That is due to inflation, not due to the recession.

 

[Woodznutz]

So. maybe someone here can help me out.

Other than losing a job, what is the biggest hardship for an individual during a recession?

If one does not lose a job and works during the recession, would they even notice it was happening?

That depends on how they are positioned financially. I have already started to prosper as interest rates on my investments have risen considerably. Also recession will provide some great buying opportunities for those with ready cash as some will be forced to sell things at a loss to survive.

 

[45thPatriot]

That is due to inflation, not due to the recession.

Is this trolling hour?

 

[Harpy Eagle]

Is this trolling hour?

Not at all. you can have a recession without inflation and you can have inflation without a recession.

 

[45thPatriot]

Not at all. you can have a recession without inflation and you can have inflation without a recession.

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

 

[Couchpotato]

So. maybe someone here can help me out.

Other than losing a job, what is the biggest hardship for an individual during a recession?

If one does not lose a job and works during the recession, would they even notice it was happening?

Spin it however you want. Up until last week we defined a recession as 2 consecutive quarters with negative GDP growth. Whether or not this recession will be "bad" for the average American remains to be seen I guess, but we are in a recession like it or not. And Id love to see how you spin the economy shrinking for the last 6 months as a positive.

Go.

 

[Harpy Eagle]

Spin it however you want. Up until last week we defined a recession as 2 consecutive quarters with negative GDP growth. Whether or not this recession will be "bad" for the average American remains to be seen I guess, but we are in a recession like it or not. And Id love to see how you spin the economy shrinking for the last 6 months as a positive.

Go.

I am not doubting we are officially in a recession, I agree 100% we are.

The question is how will this impact people if they do not lose their job?

Take my household for instance. My wife has the closet thing to a recession proof job there is, she is a ICU nurse for the VA. The Govt is not going to cut employees during a recession and even if they did, she would be one of the last. So her job is not in jeopardy. Mine is not far behind in level of job security so chances are we will neither lose our jobs.

If we do not do so, how will we be impacted by this recession other than perhaps the markets dropping more?

 

[Dekster]

So. maybe someone here can help me out.

Other than losing a job, what is the biggest hardship for an individual during a recession?

If one does not lose a job and works during the recession, would they even notice it was happening?

When it is driven by inflation, yes they will notice. I mean I get your point. The COVID recession didn't affect me one bit because I worked throughout. But when I am paying a lot more for gas and hamburger, I kind of try to better manage my consumption of both even if it is not technically necessary.

 

[iceberg]

So. maybe someone here can help me out.

Other than losing a job, what is the biggest hardship for an individual during a recession?

If one does not lose a job and works during the recession, would they even notice it was happening?

family and friends can lose jobs also and i help them when i can
stores can't sell inventory and have to cut profit estimates, or worse, post a loss.
investors take hits, be they professional or simply 401k bound. my own savings has taken a serious beating in the last 18 months where previously i was able to borrow from it as needed to fix things around the house. recently i couldn't do that and took out a loan instead because withdrawing from investments now is stupid. so im in debt i wouldn't have been before, paying interest]

add all this to an already fucked up economy and yes, people notice. add this on top of this admins insane desire to change our entire power system overnight while winning staring contests with statues and it's worse.

these are not good times and i don't know of anyone - ANYONE - saying they don't notice. whether the economy or simply war is around the corner and then what?

if a recession was the ONLY thing happening then i can see your point. but due to the fact it has been brought on by 2 years of bullshit COVID excuses and lies from everywhere possible, no one trusts anything right now.

yes, people notice.

due to our leaders making rules they refuse to follow splitting us in 2 moreso than we were before, it compounds things even more.

yes, people notice.

so i'd say, yes. if you've not noticed, great. but i certainly have and simply don't have the room to move around like i did under trump or any other admin in my lifetime.

 

[Harpy Eagle]

When it is driven by inflation, yes they will notice. I mean I get your point. The COVID recession didn't affect me one bit because I worked throughout. But when I am paying a lot more for gas and hamburger, I kind of try to better manage my consumption of both even if it is not technically necessary.

Thank you. I understand what you are saying and agree with this part of it.