We are officially in a Recession.

[Harpy Eagle]

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.

Thank you for your answer. That all makes a great deal of sense.

 

[iceberg]

Thank you for your answer. That all makes a great deal of sense.

well i have to say i've wondered the same thing at times. how will i feel it? will i?

so i put some thought into it and looked back at how it has impacted me in order to answer.

 

[Hang on Sloopy]

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

Well with taxing corps a min of 15% and all this Green nonsense.....I love these people so much...lol

 

[Harpy Eagle]

well i have to say i've wondered the same thing at times. how will i feel it? will i?

so i put some thought into it and looked back at how it has impacted me in order to answer.

Inflation has impacted me far more than a recession will more than likely.

And then the fight against inflation has done the most obvious harm as mortgage rates have gone up a lot since March. Luckily we were able to lock in yesterday before the next jump by the Feds.

 

[Baron Von Murderpaws]

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

Nope. They are actually doing much better, after all those American companies pulled out of Russia.
Thier eceonomy is on the uptick.

 

[iceberg]

Inflation has impacted me far more than a recession will more than likely.

And then the fight against inflation has done the most obvious harm as mortgage rates have gone up a lot since March. Luckily we were able to lock in yesterday before the next jump by the Feds.

that's been the big killer. recession on its own probably wouldn't hurt as bad. put it in with all this, and it's just gas on a scorching fire.

glad you could lock yours down and save some $$$ damage. ever increasing property values are dogging me after almost having my home paid off. when i finally get it paid off, hell, property taxes and insurance are going to still take a hell of a slice anyway.

 

[Ralph Norton]

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

Pretty condescending for your 2nd day, rookie
What he is getting wrong?

 

[Couchpotato]

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?

I wasnt aware that we gauged the severity of a recession based on it's impact to your household.

 

[iceberg]

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

dude -

0 to doosh in a single post for me.

new record.

 

[iceberg]

I wasnt aware that we gauged the severity of a recession based on it's impact to your household.

maybe. or maybe digging to see how others have dealt with it or felt it.

if you're shielded by good fortune, the impact is likely far less than those caught up in it. pretty sure that's the way it's always been but hearing what others are doing / going through helps me frame it up for myself as well.

 

[Whodatsaywhodat.]

I wasnt aware that we gauged the severity of a recession based on it's impact to your household.

Well now you know ... the whole world revolves around Gator.

 

[Couchpotato]

maybe. or maybe digging to see how others have dealt with it or felt it.

if you're shielded by good fortune, the impact is likely far less than those caught up in it. pretty sure that's the way it's always been but hearing what others are doing / going through helps me frame it up for myself as well.

Here I'll help you out. If you already have money, work for the government or provide some service that people cant do without you'll be ok in this or probably any recession. If you dont you might be fucked.

GG coming on here and acting like us being in a recession is no big deal because he and his will be fine doesn't help anyone.

 

[blackhawk]

If the current President was Republican with this inflation and now recession the media and so called economic experts would have no trouble deciding if we are in a recession or not we would be.

 

[Couchpotato]

If the current President was Republican with this inflation and now recession the media and so called economic experts would have no trouble deciding if we are in a recession or not we would be.

Correct

Mortgage rates fall as fears about the US economy loom

Mortgage rates dropped last week, as rates continue to fluctuate fears that the US economy is entering a recession build.

www.cnn.com

CNN thinks there is only a fear of a recession.

 

[iceberg]

Here I'll help you out. If you already have money, work for the government or provide some service that people cant do without you'll be ok in this or probably any recession. If you dont you might be fucked.

GG coming on here and acting like us being in a recession is no big deal because he and his will be fine doesn't help anyone.

Maybe, but I am not going to make assumptions.

Is that any more arrogant than you "helping me out" cause you didn't like my answer?

 

[progressive hunter]

 

[skews13]

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?

Nobody is losing their job. Gas prices continue to fall. The housing bubble is collapsing. The start of a bull market is happening. The CHIPs bill just passed, which brings semi conductor manufacturing back from China, lowers prescription drug costs, and lowers the deficit. Social Security recipients are about to get a 10.5% cost of living raise. It extends healthcare credits for another 3 years, helping 13 million voters.

So what do Republicans do?

Punish disabled veterans.

Daily Kos

Daily Kos is a progressive news site that fights for democracy by giving our audience information and resources to win elections and impact government. Our coverage is assiduously factual, ethical, and unapologetically liberal. We amplify what we think is important, with the proper context—not...

m.dailykos.com

See you in November assholes.

 

[Couchpotato]

Maybe, but I am not going to make assumptions.

Is that any more arrogant than you "helping me out" cause you didn't like my answer?

What's arrogant? Does what I posted not apply to every other recession in history? People who have money, work for the Government or provide a service that people HAVE to have regardless do ok others maybe not so well. It's really not all that hard to figure out. Unfortunately, I doubt we have seen the effects of this recession quite yet. Many economists believe that this record unemployment has less to do with everyone working and more to do with people not applying for UE benefits which is how we gauge UE. It remains to be seen if people can continue to not work as inflation continues to drain their savings, they run up CC debt (all of which is happening) etc. I hope it doenst crash in on us but there's no reason to believe this recession will be fundamentally different than all the other ones.

 

[iceberg]

What's arrogant? Does what I posted not apply to every other recession in history? People who have money, work for the Government or provide a service that people HAVE to have regardless do ok others maybe not so well. It's really not all that hard to figure out. Unfortunately, I doubt we have seen the effects of this recession quite yet. Many economists believe that this record unemployment has less to do with everyone working and more to do with people not applying for UE benefits which is how we gauge UE. It remains to be seen if people can continue to not work as inflation continues to drain their savings, they run up CC debt (all of which is happening) etc. I hope it doenst crash in on us but there's no reason to believe this recession will be fundamentally different than all the other ones.

oh maybe the assumption that i can't figure it out on my own and you feel the need to "help me out".

you named a lot of factors that come into play that can make this one "different" to a degree. i did the same. he asked a question, i responded. i didn't see the need to attack, you seem to have found the need to do so.

have fun. not why im here.

 

[Couchpotato]

Nobody is losing their job. Gas prices continue to fall. The housing bubble is collapsing. The start of a bull market is happening. The CHIPs bill just passed, which brings semi conductor manufacturing back from China, lowers prescription drug costs, and lowers the deficit. Social Security recipients are about to get a 10.5% cost of living raise. It extends healthcare credits for another 3 years, helping 13 million voters.

So what do Republicans do?

Punish disabled veterans.

Daily Kos

Daily Kos is a progressive news site that fights for democracy by giving our audience information and resources to win elections and impact government. Our coverage is assiduously factual, ethical, and unapologetically liberal. We amplify what we think is important, with the proper context—not...

m.dailykos.com

See you in November assholes.

Popular Presidents get their ass handed to them in the midterms. You think a guy with a sub 40 approval rating, in a recession is going to do well?