Now that we are OFFICIALLY in the BIDEN RECESSION, will Dems change the definition of “recession” (2 straight QTRs of GDP contraction)

[g5000]

I suspect the reason GDP growth shrank in the first two quarters is because the federal budget was cut by over a trillion dollars.

As I have pointed out many, many times on this forum, government spending is a significant component of GDP.

Here is the formula for GDP:

GDP = C + G + I + NX. C is equal to all private consumption, or consumer spending, in a nation's economy, G is the sum of government spending, I is the sum of all the country's investment, including businesses capital expenditures and NX is the nation's total net exports, calculated as total exports minus total imports (NX = Exports - Imports).

Gross Domestic Product - GDP


As I have also pointed out many, many times, our politicians have figured out it is easier to artificially juice our GDP with big government spending rather than do the heavy lifting of enacting policies which will make our economy stronger.

They have been doing this for DECADES.

 

[g5000]

We just went through a period called the Great Resignation. People are quitting their jobs at a very high clip for higher paying jobs. That's how strong the job market has been.

So if anyone who wants a job can get a job, and a good paying one, what does whining about the GDP mean to them?

It means nothing, except to the partisan hacks who wish we weren't doing so well.

 

[Nostra]

I hate to be the bearer of bad news, but we are not in a recession. I know how much you wish our country was in one, but GDP growth is only one measure of whether or not we are in a recession.

Using just GDP as evidence of a recession is like using your body temperature as evidence you have cancer.

You see, one of the other measurements of a recession is rising unemployment. That's a big one.

And guess what?

Job growth is strong. Anyone who wants a job has one.

I'm sorry it upsets you our country is doing well.

I hope this helps.

Are you wrong now, or were you wrong then?

The Coming Recession

I wonder if there is one thing we can all agree on. If there is, it should be the fact that neither of the major parties is fiscally responsible. No matter which party controls Congress, no matter what letter is after the name of the president, the federal debt climbs faster and faster with...

www.usmessageboard.com

 

[Bootney Lee Farnsworth]

There isn’t a recession. Our employment numbers are the best in decades. Inflation goes with high employment.

If you’re worried about prices, perhaps you should tell oil companies to stop price gauging.

Oh right. Treasonous trumpkins voted against anti prive gauging legislation.

Cause given that the Galapagos criminals have no policies other than give their rich donors what they want and pacify the christofasciats, I guess you’d like it if there were a recession.

Nice try

Wow

This is how the left thinks. Jesus.

 

[Bootney Lee Farnsworth]

We need to socialize everything, right lefties?

No, that will get you hanged, drawn, and quartered.

What do lefties do instead? The next best thing.

Artificial price controls.

 

[BlackSand]

Its obvious when Q2 is reported on Thursday, it will confirm we are in the Biden Recession.

Will Dems change the definition of the “R” word?

.

They already have ... And worse, they will explain why it is necessary for the "transition".

They will explain ...
As the country makes a transition from fossil fuels and whatnot, the pain is simply a consequence of getting where we need to go.
Economic Degrowth will occur as we adjust to new requirements, while we strive for a better environment and more responsible policies.

The major tenants of Marxism require Economic Degrowth and Population Reduction.
It will suck for everyone, but when they are explaining how necessary it all is ... Just try to figure out which list you are on.

.​

 

[Slade3200]

Wow

This is how the left thinks. Jesus.

I didn’t read what she wrote but your response is hilarious. You read a post by one person and attribute it to the way the “Left” thinks. The entire “Left”. No moron, one person doesn’t represent the way an entire group of people Think. What a moronic suggestion. Grow up.

 

[ColonelAngus]

Dems are like 3rd graders.

What fucking babies.

Dont change the situation…..just the name of the situation.

NO NO NO, THIS IS NOT A RECESSION! ITS A BOWL OF ICE CREAM!

 

[Slade3200]

Dems are like 3rd graders.

What fucking babies.

Dont change the situation…..just the name of the situation.

NO NO NO, THIS IS NOT A RECESSION! ITS A BOWL OF ICE CREAM!

I’ve addressed your questions, you’ve ignored every one of mine. Why’s that?

 

[ColonelAngus]

Isnt it so faggoty to CHANGE THE DEFINITION OF RECESSON?

Easy to predict, huh?

 

[Dirk the Daring]

Using the job growth #s is tricky, as part of the reason those numbers are high are because so many people are having to get second jobs to cover the rising inflation costs.

More American workers are taking on second jobs as inflation rages

Number of people working two full-time jobs is at a record high, according to government labor numbers.

www.cbsnews.com

https://www.washingtonpost.com/business/2022/07/17/inflation-wages-extra-jobs/

Also, as I understand the measurements, the quarterly GDP contractions technically start at the beginning of the quarter, so two consecutive contractions means we have been in a recession since January 1st, 2022.

 

[ColonelAngus]

Recession?

Nope…..its a CESSION. IF IT HAPPENS AGAIN. ITS A RECESSION.

 

[ColonelAngus]

I did not commit adultry. I stuck my penis into the vagina of a woman who is not my wife and I thrusted repeatedly until I came inside this woman.

Thats not adultry as of today, its an EMA….extra marital activity.

 

[sartre play]

/thread

Would not believe anything that comes out of this mans mouth.

 

[sartre play]

Here in the USA we have it as good as any place on earth, AND WAY BETTER than most. Spoiled weak self indulgent. So spoiled that part of the population wants to secede from our country or start another civil war. Wimps.

 

[g5000]

Isnt it so faggoty to CHANGE THE DEFINITION OF RECESSON?

Easy to predict, huh?

You are the one who changed the definition of a recession. Your topic is based on a false premise. You mis-defined the OFFICIAL definition of a recession.

I told you it is the NBER which determines if we are in a recession, and they often do not report we have been in one until long after it has passed. The reasons for this are too complicated for your pointy head to comprehend.

As I said earlier, using just GDP growth to determine if we are in a recession is like using just your body temperature to determine if you have cancer.

So now I will provide you with the OFFICIAL definition of a recession:

Recession | U.S. Bureau of Economic Analysis (BEA)

In general usage, the word recession connotes a marked slippage in economic activity. While gross domestic product (GDP) is the broadest measure of economic activity, the often-cited identification of a recession with two consecutive quarters of negative GDP growth is not an official designation.

www.bea.gov

In general usage, the word recession connotes a marked slippage in economic activity. While gross domestic product (GDP) is the broadest measure of economic activity, the often-cited identification of a recession with two consecutive quarters of negative GDP growth is not an official designation. The designation of a recession is the province of a committee of experts at the National Bureau of Economic Research (NBER), a private non-profit research organization that focuses on understanding the U.S. economy. The NBER recession is a monthly concept that takes account of a number of monthly indicators—such as employment, personal income, and industrial production—as well as quarterly GDP growth. Therefore, while negative GDP growth and recessions closely track each other, the consideration by the NBER of the monthly indicators, especially employment, means that the identification of a recession with two consecutive quarters of negative GDP growth does not always hold.

Hope this helps.

 

[Slade3200]

You are the one who changed the definition of a recession. Your topic is based on a false premise. You mis-defined the OFFICIAL definition of a recession.

I told you it is the NBER which determines if we are in a recession, and they often do not report we have been in one until long after it has passed. The reasons for this are too complicated for your pointy head to comprehend.

As I said earlier, using just GDP growth to determine if we are in a recession is like using just your body temperature to determine if you have cancer.

So now I will provide you with the OFFICIAL definition of a recession:

Recession | U.S. Bureau of Economic Analysis (BEA)

In general usage, the word recession connotes a marked slippage in economic activity. While gross domestic product (GDP) is the broadest measure of economic activity, the often-cited identification of a recession with two consecutive quarters of negative GDP growth is not an official designation.

www.bea.gov

In general usage, the word recession connotes a marked slippage in economic activity. While gross domestic product (GDP) is the broadest measure of economic activity, the often-cited identification of a recession with two consecutive quarters of negative GDP growth is not an official designation. The designation of a recession is the province of a committee of experts at the National Bureau of Economic Research (NBER), a private non-profit research organization that focuses on understanding the U.S. economy. The NBER recession is a monthly concept that takes account of a number of monthly indicators—such as employment, personal income, and industrial production—as well as quarterly GDP growth. Therefore, while negative GDP growth and recessions closely track each other, the consideration by the NBER of the monthly indicators, especially employment, means that the identification of a recession with two consecutive quarters of negative GDP growth does not always hold.

Hope this helps.

You win... Well played!

 

[Nostra]

I just saw where there has been a last minute revision of the GDP numbers to be released tomorrow. Look for them to change it to just above 0 so they can say we aren't in a recession. Then it will be revised down in a month or so when nobody is paying attention.

 

[22lcidw]

We just went through a period called the Great Resignation. People are quitting their jobs at a very high clip for higher paying jobs. That's how strong the job market has been.

So if anyone who wants a job can get a job, and a good paying one, what does whining about the GDP mean to them?

It means nothing, except to the partisan hacks who wish we weren't doing so well.

That's not how the Progs ran on when the coup occurred in November of 2020. They knew better. Told us over and over. While people keep bringing up FOX news, they must not have been paying attention to the rest of the TV stations on cable which is mostly Prog controlled or influenced.

 

[initforme]

People quitting their jobs has no part in a recession.