We are officially in a Recession.

[Couchpotato]

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.

You seemed confused about who does well and who doesnt during economic down turns. This shit doesnt change over time.

 

[iceberg]

You seemed confused about who does well and who doesnt during economic down turns. This shit doesnt change over time.

that must be it.

have a nice day.

 

[task0778]

Okay, so the 2nd Qtr GDP numbers tell us the economy is in a recession because we have had 2 consecutive Qtrs of negative growth as defined by the GDP. And yet Fed Chairman Jerome Powell told reporters that he does not believe the U.S. economy is in a recession.

"I do not think the U.S. is currently in a recession, and the reason is there are too many areas of the economy that are performing too well," Powell said. "This is a very strong labor market. … It doesn’t make sense that the economy would be in a recession with this kind of thing happening."

This despite the Atlanta Fed that earlier this month forecast a 1.6% drop in economic growth. So, WTF? I understand that usually when you have a recession there is a decline in jobs, which has not happened. So why did the GDP number come in negative? It feels like somebody's numbers are wrong or the formula that computes those numbers (one or the other) is wrong. So, WTF? Which of the factors that determine GDP went south? Do we really have that very strong labor market? Or is that number wrong and the GDP is correct?

 

[airplanemechanic]

A recession is when your neighbor loses their job.

A depression is when you lose yours.

 

[Papageorgio]

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?

My position at work gets bonuses based on total sales and during a recession our sales drop which impacts my income, also during this recession it has been tougher because it was proceeded high inflation which makes it more difficult to save more money.

In 2008 the company I owned did better in a recession and we bought a house when the market was down so the 2008 recession didn't hurt me, in fact it helped me situation.

 

[skews13]

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?

I think while the Trump trolls are tearing down America, just to hurt Biden, theyre losing on every other metric.

Biden just got a huge victory with that CHIPs bill that passed, and another one is right behind that one.

While Biden is doing things for the country, the rightards are taking away rights, and talking about what theyre not going do. You stick with that strategy, and we’ll see how it plays out.

 

[MarathonMike]

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

Everything Biden has done in his first 18 months is designed to weaken, disrupt and divide America. He was supposed to be Good ol Joe the "moderate". What we got was a snarling, Leftist extremist. Can we sue the Democratic Party for fraud?

 

[BS Filter]

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 inflation forces you to stay at home because you can't afford a movie and dinner, vacation, buying that boat, etc, then that's a recession.

 

[BS Filter]

I think while the Trump trolls are tearing down America, just to hurt Biden, theyre losing on every other metric.

Biden just got a huge victory with that CHIPs bill that passed, and another one is right behind that one.

While Biden is doing things for the country, the rightards are taking away rights, and talking about what theyre not going do. You stick with that strategy, and we’ll see how it plays out.

What time did you start drinking today?

 

[Harpy Eagle]

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.

It is expected we might see a drop in property values, but not sure that will help with the taxes

 

[Harpy Eagle]

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

Not to be cold, but really what else matters? I worry about me and mine first and foremost, as I am sure you do as well

 

[Moonglow]

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

Joe Biden is not in the Democrat party.

 

[Moonglow]

I hope there are layoffs I am tired of working.

 

[BS Filter]

Joe Biden is not in the Democrat party.

What party is he in?

 

[BS Filter]

I hope there are layoffs I am tired of working.

What is it that you do do?

 

[d0gbreath]

The US has always seemed to be in a recession more often than not.

 

[Moonglow]

What party is he in?

The Democratic Party.

 

[Moonglow]

What is it that you do do?

Engineering and management

 

[MarathonMike]

I think while the Trump trolls are tearing down America, just to hurt Biden, theyre losing on every other metric.

Biden just got a huge victory with that CHIPs bill that passed, and another one is right behind that one.

While Biden is doing things for the country, the rightards are taking away rights, and talking about what theyre not going do. You stick with that strategy, and we’ll see how it plays out.

You're boy Brandon and his band of extremists have done everything they can to tear down America. Wake up, skew.

 

[Moonglow]

You're boy Brandon and his band of extremists have done everything they can to tear down America. Wake up, skew.

I noticed the sky is still above us and the ground below our feet.