Dropping gas prices - Welcome to the Biden Recession

[JGalt]

The National Bureau of Economic Research hasn't officially declared the Biden Recession., even though the price of gasoline has started dropping. The lowering of the US national average of gas prices means fewer people are driving.

THE GREAT RECESSION, 2007-2009​

"Many experts are predicting that we are entering a bad recession; 6.6 million people applied for unemployment benefits last week. Although the situations are not the same, we can look at what gas prices were the last time we were in a recession in 2008 to glean some insight on what could potentially happen.

According to the U.S. National Bureau of Economic Research, the Great Recession began in December 2007 and ended in June 2009. During that time, the national average surpassed $4 per gallon from June 8, 2008 to July 24, 2008, peaking on July 16 at $4.10 per gallon."

What we can learn from history about gas prices during a recession.

The economist Daniel Lacalle explains why he believes the Biden Recession has already started...

"The debate about recession risk is pointless. We are already in a recession. Real GDP (gross domestic product) in the United States declined at an annual rate of 1.6% in the first quarter."

Hedgeye Risk Management | The Recession May Already Be Here

 

[Mac1958]

Now it's bad.

 

[JGalt]

Now it's bad.

Not bad yet, just wait a few more months.

 

[Penelope]

The National Bureau of Economic Research hasn't officially declared the Biden Recession., even though the price of gasoline has started dropping. The lowering of the US national average of gas prices means fewer people are driving.

View attachment 671768

THE GREAT RECESSION, 2007-2009​

"Many experts are predicting that we are entering a bad recession; 6.6 million people applied for unemployment benefits last week. Although the situations are not the same, we can look at what gas prices were the last time we were in a recession in 2008 to glean some insight on what could potentially happen.

According to the U.S. National Bureau of Economic Research, the Great Recession began in December 2007 and ended in June 2009. During that time, the national average surpassed $4 per gallon from June 8, 2008 to July 24, 2008, peaking on July 16 at $4.10 per gallon."

What we can learn from history about gas prices during a recession.

View attachment 671769
The economist Daniel Lacalle explains why he believes the Biden Recession has already started...

"The debate about recession risk is pointless. We are already in a recession. Real GDP (gross domestic product) in the United States declined at an annual rate of 1.6% in the first quarter."

Hedgeye Risk Management | The Recession May Already Be Here

The National Bureau of Economic Research hasn't officially declared the Biden Recession., even though the price of gasoline has started dropping. The lowering of the US national average of gas prices means fewer people are driving.

View attachment 671768

THE GREAT RECESSION, 2007-2009​

"Many experts are predicting that we are entering a bad recession; 6.6 million people applied for unemployment benefits last week. Although the situations are not the same, we can look at what gas prices were the last time we were in a recession in 2008 to glean some insight on what could potentially happen.

According to the U.S. National Bureau of Economic Research, the Great Recession began in December 2007 and ended in June 2009. During that time, the national average surpassed $4 per gallon from June 8, 2008 to July 24, 2008, peaking on July 16 at $4.10 per gallon."

What we can learn from history about gas prices during a recession.

View attachment 671769
The economist Daniel Lacalle explains why he believes the Biden Recession has already started...

"The debate about recession risk is pointless. We are already in a recession. Real GDP (gross domestic product) in the United States declined at an annual rate of 1.6% in the first quarter."

Hedgeye Risk Management | The Recession May Already Be Here

Biden Recession, you always blame it on the President, Biden is not responsible for the inflation.

 

[SweetSue92]

Biden Recession, you always blame it on the President, Biden is not responsible for the inflation.

Says the braintrust still blaming everything on a president who left office over 18 MONTHS ago

 

[JGalt]

Biden Recession, you always blame it on the President, Biden is not responsible for the inflation.

It's happening on his watch, he owns it. Remember the "Bush Recession"?

Before the Bush Recession

 

[Biff_Poindexter]

In today's episode of Trumpers are full of shit........

 

[Mac1958]

Biden is not responsible for the inflation.

That's not what they're told in their world, so they'll NEVER believe it.

 

[occupied]

Do you think all these people blaming Biden for everything have better ideas? If they do they are not really talking about it. Tax cuts for the wealthy? Giveaways for the fossil fuel industry?

 

[JoeB131]

The National Bureau of Economic Research hasn't officially declared the Biden Recession., even though the price of gasoline has started dropping. The lowering of the US national average of gas prices means fewer people are driving.

Wait, you guys spent months whining that gasoline was too expensive, now you are whining it's not expensive enough?

The real question is, what if they called a recession and nobody came? Past recessions have been marked by spike in unemployment, but the reality is that we are already running on minimal staffs in most companies.

 

[Penelope]

It's happening on his watch, he owns it. Remember the "Bush Recession"?

Before the Bush Recession

He causes Obama recession, always blaming it on the President.

Tramp is to blame; he mouses up to Russia and created the Jan 6th.

 

[Nuthin' Fancy]

Easier to blame president than to the corporations that are actually raising prices/price gouging.
They think there is no correlation between rising prices and corporate profit going up 200%.
They deserve more tax cuts.

 

[Mac1958]

Do you think all these people blaming Biden for everything have better ideas? If they do they are not really talking about it. Tax cuts for the wealthy? Giveaways for the fossil fuel industry?

They're also unaware that the guy before Biden BEGGED the Fed to INCREASE QE and DECREASE interest rates, adding to inflationary pressures.

Then he/they bragged about an economy that (they evidently didn't know) was driven by the Fed.

Arrogant ignorance, their trademark.

 

[Deplorable Yankee]

They've been praising Biden for the drop

 

[Biff_Poindexter]

They've been praising Biden for the drop

I think it is a case of turning someone's own logic against them -- problem is, people made the mistake that Trumpers have logic, they do not.....


They will completely contradict something they just said 2 sentences ago -- with no shame

 

[Biff_Poindexter]

Newsflash for folks who are taking Trumper arguments seriously -- as if there is some sort of principle they are standing on -- don't do that.......


Trumpers don't even take their own arguments seriously...so much so, they will abandon their own arguments and take the opposite position mid-sentence.....


The only principle they operate on is thinking they are upsetting you or "triggering" you when they see how upset you get at their gaslighting....

 

[Canon Shooter]

Biden Recession, you always blame it on the President, Biden is not responsible for the inflation.

Idiot liberals blame Trump for water being wet.

We can sure the fuck blame BIden for the recession...

 

[candycorn]

The dickless wonders on the right are constantly looking for things to make them upset. Biden's moves to lower gasoline prices are now suddenly a bad thing.

 

[1srelluc]

The other shoe hasn't dropped yet.....Just wait till the major refineries go into turnaround in about a month. What, did you think that they could run at 95% forever?

 

[JGalt]

Wait, you guys spent months whining that gasoline was too expensive, now you are whining it's not expensive enough?

The real question is, what if they called a recession and nobody came? Past recessions have been marked by spike in unemployment, but the reality is that we are already running on minimal staffs in most companies.

The unemployment rate has remained at 3.6 percent since April 2022. That is because of two things:

1. The ending of the COVID pandemic.

2. The high inflation rate forcing people to work.

Unfortunately, most every recession was preceeded by a drop in the unemployment rate:

Fact Check: Is unemployment lowest in 50 years in the U.S.?

The layoffs have already started, and it's far worse than you even know:

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layoffs 2022 - Google Search