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Current Events => The DUmpster => Topic started by: Texacon on July 24, 2022, 02:55:43 PM

Title: The White House is pointing out that the US isn't really in a recession
Post by: Texacon on July 24, 2022, 02:55:43 PM
https://www.democraticunderground.com/100216963969


Quote
17 hrs ago
867-5309.
The White House is pointing out that the US isn't really in a recession

...Should the Thursday report show output shrinking again, debate around the economy's health will quickly intensify. The rule-of-thumb definition of a downturn has long been back-to-back quarters of negative GDP. The coming data release could very well show just that, but the White House is already explaining why defining a recession requires much more nuance.

For one, the National Bureau of Economic Research has much more stringent criteria for deciding when a recession starts, members of the White House Council of Economic Advisors wrote in a Thursday blog post. The organization — which serves as the semi-official authority for deciding when business cycles start and end — defines a recession as "a significant decline in economic activity that is spread across the economy and lasts more than a few months." It also considers factors such as employment, consumer spending, and industrial production.

That looser definition makes it less likely the US is actually in an economic slump, the team said. The variables the NBER tracks have shown "strong growth" since the start of the pandemic and continued to improve through the first half of 2022. The unemployment rate remains a historically low 3.6%, and monthly job creation in the second quarter handily surpassed the pre-pandemic trend...

https://www.businessinsider.com/white-house-biden-recession-gdp-economic-report-2022-7


Expect some gloom and doom recession talk in the media. They will fail to see the big picture.



Anything to support the narrative. Don’t like what’s coming down the pike?  Change what it’s called or change how it’s measured then call anyone who disagrees a moron because you don’t understand ‘nuance’.

 :rotf:


Quote
PSPS
2. The traditional idea of a "recession" isn't applicable here. This is a unique situation.
For one thing, we're still in a pandemic (despite the media's advertising-driven charade of it being otherwise) and its effect on the workforce, supply chain, etc. Another thing is the Russian invasion and war causing widespread food and energy shortages. This is a combination without any history as a guide.

A third thing is the low unemployment rate. One key indicator of a recession is high unemployment. Recessions never have low unemployment.

My admittedly amateur opinion is that this is all a symptom of pandemic-driven speeding up the movement to a new kind of economy. It would have happened over then next twenty years anyway but was compressed into a year or two because of the pandemic. Office space vacancy is still high with no signs of improving (Amazon has started cancelling office projects in the works) and people have come to prefer, even insist on, working at home (the employers wanting to return to normal are relenting due to enormous pushback from their employees as well as potential new hires.)


Gotta love that liar. We’re not in a pandemic, but since it believes we are I have a question.  WHY do you think we’re in a pandemic?  Joe promised to “stop the virus” and he’s been in office for a year and a half. How long does it take?  How many variants has he let in?  And what the hell, now we’ve got Monkey Pox!!  We didn’t have Monkey Pox when Trump was President!

Fun, short thread.

KC
Title: Re: The White House is pointing out that the US isn't really in a recession
Post by: franksolich on July 24, 2022, 03:04:24 PM
This is supposed to be a week of bad economic news, the Biden administration taking some pretty bad hits.

It's going to be interesting, to watch how the primitives spin it all.
Title: Re: The White House is pointing out that the US isn't really in a recession
Post by: SVPete on July 24, 2022, 03:16:49 PM
(https://thumbs.gfycat.com/ConcernedPrestigiousLacewing-small.gif)
Title: Re: The White House is pointing out that the US isn't really in a recession
Post by: DUmpDiver on July 24, 2022, 05:06:00 PM
Joe promised to “stop the virus” and he’s been in office for a year and a half. How long does it take?  How many variants has he let in?

It's Trump's fault because the Trump vacs that Joe has been forcing on people do not prevent transmission.

/DU
Title: Re: The White House is pointing out that the US isn't really in a recession
Post by: USA4ME on July 24, 2022, 06:35:51 PM
Quote from:
PSPS

A third thing is the low unemployment rate. One key indicator of a recession is high unemployment. Recessions never have low unemployment.

That's not even close to being true.

.
Title: Re: The White House is pointing out that the US isn't really in a recession
Post by: ADsOutburst on July 24, 2022, 07:14:40 PM
Merriam-Webster to change their definition in 3, 2, 1...
Title: Re: The White House is pointing out that the US isn't really in a recession
Post by: CollectivismMustDie on July 24, 2022, 08:59:56 PM
Save this thread, because pretty soon, they'll be posting pieces from far left nutter sources which opine that 'Yes, we're in a recession, and it's a good thing'.

And they'll be agreeing, like the morons they are.
Title: Re: The White House is pointing out that the US isn't really in a recession
Post by: freedumb2003b on July 24, 2022, 09:46:32 PM
Merriam-Webster to change their definition in 3, 2, 1...

They changed the definitions of "pedophile" and "senile." Why not "recession?"
Title: Re: The White House is pointing out that the US isn't really in a recession
Post by: Drafe Hoblin on July 24, 2022, 10:33:44 PM
'Recessions' are all about inferior minds in Government. 

So this week will be a tentacles-furiously-thrashing embarrassment for DU.   
Title: Re: The White House is pointing out that the US isn't really in a recession
Post by: 67 Rover on July 25, 2022, 11:12:37 AM
They changed the definitions of "pedophile" and "senile." Why not "recession?"

Add in the changed definition of vaccine and woman as well.

People aren't going to buy it when foreclosures shoot up, wages stagnate, homes and cars become unaffordable due to double digit interest rates, and groceries become unaffordable that is when you can actually find what you are looking for on the bare shelves. :mad:
Title: Re: The White House is pointing out that the US isn't really in a recession
Post by: jukin on July 25, 2022, 11:19:21 AM
Orwell's Newspeak is on full display with the democrat-communist party in charge.

Look the BS economics board already changed the definition of recession under Preezy Shit Midas to be that the two quarters of negative GDP had to be increasingly negative. IOW 1Q 2022 is -1.6% and 2Q 2022 is -1.5% NO RECESSION but if 2Q 2022 is -1.7% then recession... until they change definition again. So you know the first print of 2Q 2022 is going to be less than -1.6%. Second print will be higher (-1.8%), and the third print even higher. (-2.3%).

 
Title: Re: The White House is pointing out that the US isn't really in a recession
Post by: Vagabond on July 25, 2022, 04:25:46 PM
I think the primary reason for low unemployment up until now is not being considered.  The biggest economic event of 2020 was that some point in that year, more baby boomers were retired than working.  The Boomers are the largest generation in history.  The workers replacing them are from the smallest generation in history.  That alone is enough to cause labor shortages in an average market. 

I think that the coming data this week is going to be a disaster.  Democrats are going to be the party that pays the price for it politically.  All of the out of control money printing is going to come back to bite us all in a minute.
Title: Re: The White House is pointing out that the US isn't really in a recession
Post by: Texacon on July 25, 2022, 05:59:00 PM
Maybe they can rebrand their way out of it. Let’s help them.

Instead of recession how about … Financial Opportunity Season … for those who can afford it.

Or

Pluscession. It’s just like a recession but it sounds more friendly.

Whatchya got. Let’s help them.

KC
Title: Re: The White House is pointing out that the US isn't really in a recession
Post by: SVPete on July 25, 2022, 06:01:57 PM
I'm paying ~50% more for gasoline, and prices at stores are also up. I find those realities more interesting than whether the economy is in a recession or in a ham sandwich.
Title: Re: The White House is pointing out that the US isn't really in a recession
Post by: Rebel on July 25, 2022, 07:28:08 PM
These people are damn delusional. The economy SUCKS BALLS. Wait until the fall harvest and don't say I didn't warn you. I'm on the supply side of the industry. WE.ARE.****ED. Basic damn 13-13-13 with NO minors was $338 per ton a year or so ago. $862 now. Glyphosate, pretty much the cheapest non-selective herbicide out there, was $360 per 30gl. It's now over $1000. Produce farmers use a lot but hay farmers (think cattle) use a TON of it before planting because they can do a total kill on all weeds before planting and there is no residual. You've already talked about fuel prices. This is the worst economy in my lifetime.
-
Title: Re: The White House is pointing out that the US isn't really in a recession
Post by: Texacon on July 25, 2022, 07:46:33 PM
These people are damn delusional. The economy SUCKS BALLS. Wait until the fall harvest and don't say I didn't warn you. I'm on the supply side of the industry. WE.ARE.****ED. Basic damn 13-13-13 with NO minors was $338 per ton a year or so ago. $862 now. Glyphosate, pretty much the cheapest non-selective herbicide out there, was $360 per 30gl. It's now over $1000. Produce farmers use a lot but hay farmers (think cattle) use a TON of it before planting because they can do a total kill on all weeds before planting and there is no residual. You've already talked about fuel prices. This is the worst economy in my lifetime.
-


What is this wizardry you’re talking?!

I heard the guy up there in New York, state there was no wizardry in farming. You dig a hole, put a seed in it, water it, harvest it.

Where they hell are you getting YOUR information?!

/DU mode.

KC
Title: Re: The White House is pointing out that the US isn't really in a recession
Post by: RuralNc on July 25, 2022, 07:49:16 PM
These people are damn delusional. The economy SUCKS BALLS. Wait until the fall harvest and don't say I didn't warn you. I'm on the supply side of the industry. WE.ARE.****ED. Basic damn 13-13-13 with NO minors was $338 per ton a year or so ago. $862 now. Glyphosate, pretty much the cheapest non-selective herbicide out there, was $360 per 30gl. It's now over $1000. Produce farmers use a lot but hay farmers (think cattle) use a TON of it before planting because they can do a total kill on all weeds before planting and there is no residual. You've already talked about fuel prices. This is the worst economy in my lifetime.
-

I can kinda sorta relate. At least as a business person.

Im a Baker. I run a small Bakery Business. The prices at wholesale have been creeping up for months and months. Flour. Chocolate. Butter. Oh dear lord, butter. Its about 3 times the price it was a year or so ago. Eggs. Milk. Cheese. Its absolutely ridiculous.

Wholesale can fluctuate a good bit. Its a while before the prices hit the regular grocery store. Then people throw a fit, wondering what happened.
Title: Re: The White House is pointing out that the US isn't really in a recession
Post by: landofconfusion80 on July 25, 2022, 07:55:10 PM
These people are damn delusional. The economy SUCKS BALLS. Wait until the fall harvest and don't say I didn't warn you. I'm on the supply side of the industry. WE.ARE.****ED. Basic damn 13-13-13 with NO minors was $338 per ton a year or so ago. $862 now. Glyphosate, pretty much the cheapest non-selective herbicide out there, was $360 per 30gl. It's now over $1000. Produce farmers use a lot but hay farmers (think cattle) use a TON of it before planting because they can do a total kill on all weeds before planting and there is no residual. You've already talked about fuel prices. This is the worst economy in my lifetime.
-
My oldest just started hay this year. He's into his equipment for about 2k. I hope he can break even this fall on square bails
Title: Re: The White House is pointing out that the US isn't really in a recession
Post by: SVPete on July 26, 2022, 07:55:17 AM
Ya know all that stuff we manufacture and import from Asia? It gets here, largely, by ship. I doubt that ship's fuel has held steady in cost, and it takes a while for ships to cross the Pacific. So several weeks of additional inflation is somewhere on the ocean, not yet arrived.
Title: Re: The White House is pointing out that the US isn't really in a recession
Post by: Ralph Wiggum on July 27, 2022, 12:37:01 PM
I'll repeat this analogy tomorrow when the ###'s come out, but our economy is comparable to a football game.  Say your favorite QB has thrown for 400 yards, your star running back rushed for 200, and your team still lost the game. They conveniently ignore the 5 interceptions thrown, 4 lost fumbles (including 1 for a touchdown), and missed three field goals.
Title: Re: The White House is pointing out that the US isn't really in a recession
Post by: BannedFromDU on July 27, 2022, 12:43:16 PM
I'll repeat this analogy tomorrow when the ###'s come out, but our economy is comparable to a football game.  Say your favorite QB has thrown for 400 yards, your star running back rushed for 200, and your team still lost the game. They conveniently ignore the 5 interceptions thrown, 4 lost fumbles (including 1 for a touchdown), and missed three field goals.


     This is a convenient metaphor, which I'll extend: DUmmies are Raider fans. They could not care less about the game, and have only a passing interest in the outcome. Even though their side gets in its own way and perennially sucks, they still hoot and howl and dress and carry on as though their side is undefeated. 
Title: Re: The White House is pointing out that the US isn't really in a recession
Post by: CollectivismMustDie on July 27, 2022, 02:23:58 PM

     This is a convenient metaphor, which I'll extend: DUmmies are Raider fans. They could not care less about the game, and have only a passing interest in the outcome. Even though their side gets in its own way and perennially sucks, they still hoot and howl and dress and carry on as though their side is undefeated.

Such an apt comparison.

DUmmies=Raiders fans:

They throw snowballs with D batteries and/or rocks in them during snow games, and they do it with a smile.
Title: Re: The White House is pointing out that the US isn't really in a recession
Post by: 67 Rover on July 28, 2022, 09:11:12 AM
Quote
The White House is pointing out that the US isn't really in a recession

This is true according to the new Merriam-Webster definition.  ::)

Thanks Brandon bunch.
Title: Re: The White House is pointing out that the US isn't really in a recession
Post by: BannedFromDU on July 28, 2022, 09:38:28 AM
This is true according to the new Merriam-Webster definition.  ::)

Thanks Brandon bunch.


     "Claiming the US is in a recession is transphobic." - I promise you all that is coming.
Title: Re: The White House is pointing out that the US isn't really in a recession
Post by: Old n Grumpy on July 28, 2022, 10:16:20 AM
It's no a recession it's simple mafamaticks, people can't afford to buy what they need. :thatsright:
Title: Re: The White House is pointing out that the US isn't really in a recession
Post by: jukin on July 28, 2022, 10:19:22 AM
1. WE ARE NOT IN A RECESSION

2. OK WE ARE IN A RECESSION BUT THAT IS TO BE EXPECTED

3. RECESSIONS ARE GOOD FOR THE ECONOMY AND INFLATION

4. THIS RECESSION IS TRANSITORY

5. THIS IS NOT A RECESSION. IT IS A DEPRESSION.
Title: Re: The White House is pointing out that the US isn't really in a recession
Post by: 67 Rover on July 28, 2022, 10:21:18 AM
1. WE ARE NOT IN A RECESSION

2. OK WE ARE IN A RECESSION BUT THAT IS TO BE EXPECTED

3. RECESSIONS ARE GOOD FOR THE ECONOMY AND INFLATION

4. THIS RECESSION IS TRANSITORY

5. THIS IS NOT A RECESSION. IT IS A DEPRESSION.

The recession just needs a booster and is transitory.
Title: Re: The White House is pointing out that the US isn't really in a recession
Post by: Ralph Wiggum on July 28, 2022, 11:09:10 AM
The recession just needs a booster and is transitory.

This economy does not identify as a recession, so you cannot call it a recession or that's a hate crime.
Title: Re: The White House is pointing out that the US isn't really in a recession
Post by: 67 Rover on July 28, 2022, 11:24:39 AM
This economy does not identify as a recession, so you cannot call it a recession or that's a hate crime.

Not a recession according to our betters who just missed it by nearly 1.5 points.  Hello Yellan? What say you now? Will the media question them?

2q GDP is -0.9% vs expected 0.5% . Who wants to bet the .9 gets revised down by another .5 - .9 in a few months when no one is paying attention?  :mad:
Title: Re: The White House is pointing out that the US isn't really in a recession
Post by: BannedFromDU on July 28, 2022, 11:51:20 AM
This economy does not identify as a recession, so you cannot call it a recession or that's a hate crime.

     I find this all hilarious, because by denying reality they're placing a massive bet that Q3 won't also have a contraction. It will - you can already see it. I regret that so many have to suffer until control can be wrested from these idiots in power.
Title: Re: The White House is pointing out that the US isn't really in a recession
Post by: 67 Rover on July 28, 2022, 12:11:44 PM
     I find this all hilarious, because by denying reality they're placing a massive bet that Q3 won't also have a contraction. It will - you can already see it. I regret that so many have to suffer until control can be wrested from these idiots in power.

@KatiePavlich
·
Follow
White House claims the definition of recession isn't back-to-back quarters of negative GDP growth but then won't give their own definition.

@townhallcom
·
Follow
CNN: "Is it a risk for President Biden to say he does not think the United States is going to be in a recession?"

KJP: "No, because we're looking at the facts."

@townhallcom
·
Follow
Peter Doocy just confronted Karine Jean-Pierre on Biden's Economic Council Director Brian Deese's 2008 comments that "the technical definition of a recession is two consecutive quarters of negative growth."

Doocy: "If things are going so great, why are White House officials are redefining recession?"

Jean-Pierre: "We are not."

Doocy: "It's two consecutive quarters of negative GDP growth... How is that not redefining recession?"

Jean-Pierre: "That's not the definition."
Title: Re: The White House is pointing out that the US isn't really in a recession
Post by: landofconfusion80 on July 28, 2022, 08:30:23 PM
     I find this all hilarious, because by denying reality they're placing a massive bet that Q3 won't also have a contraction. It will - you can already see it. I regret that so many have to suffer until control can be wrested from these idiots in power.
Who knew that trillions in government giveaways would result in hyper inflation. Never saw anyone from either side saying "hey guys, this might be a really bad idea...." not one.
Title: Re: The White House is pointing out that the US isn't really in a recession
Post by: Aristotelian on July 29, 2022, 02:37:05 AM
Who knew that trillions in government giveaways would result in hyper inflation. Never saw anyone from either side saying "hey guys, this might be a really bad idea...." not one.

I remember studying inter-war Germany at school and being constantly bemused at how they would keep printing money despite it always leading to hyper-inflation - to my naïve school-boy mind it seemed weird that they didn't learn. Then along came 'quantitative easing' with the promise that it won't be inflationary this time (honest it won't).
Title: Re: The White House is pointing out that the US isn't really in a recession
Post by: Rebel on July 29, 2022, 08:50:22 AM
I remember studying inter-war Germany at school and being constantly bemused at how they would keep printing money despite it always leading to hyper-inflation - to my naïve school-boy mind it seemed weird that they didn't learn. Then along came 'quantitative easing' with the promise that it won't be inflationary this time (honest it won't).

You don't even have to go that far back. Take Venezuela. Our situational issues will be in parenthesis.

Venezuela took MASSIVE loans from banks (taxpayer wealth/USD value) out on the back of their current #1 product, oil (The health of our economy). The value of the oil, (healthcare of our economy), tanked leaving them holding massive debt the couldn't pay back (taxpayer wealth/USD value). To offset this they started printing Bolivars like crazy like a bunch of crazy economic illiterates.
Title: Re: The White House is pointing out that the US isn't really in a recession
Post by: Texacon on July 29, 2022, 08:58:24 AM
You don't even have to go that far back. Take Venezuela. Our situational issues will be in parenthesis.

Venezuela took MASSIVE loans from banks (taxpayer wealth/USD value) out on the back of their current #1 product, oil (The health of our economy). The value of the oil, (healthcare of our economy), tanked leaving them holding massive debt the couldn't pay back (taxpayer wealth/USD value). To offset this they started printing Bolivars like crazy like a bunch of crazy economic illiterates.


The biggest difference, in my very humble opinion, would be America’s firearm owners. 180MM owners holding 320MM firearms with over a trillion rounds. 80%+ are conservative.

I honestly don’t think the largest unofficial Army ever known will allow us to descend into what Venezuela has become, but it would be messy. Extremely messy taking years to sort out. Decades.

KC
Title: Re: The White House is pointing out that the US isn't really in a recession
Post by: 67 Rover on July 29, 2022, 09:00:54 AM

The biggest difference, in my very humble opinion, would be America’s firearm owners. 180MM owners holding 320MM firearms with over a trillion rounds. 80%+ are conservative.

I honestly don’t think the largest unofficial Army ever known will allow us to descend into what Venezuela has become, but it would be messy. Extremely messy taking years to sort out. Decades.

KC

To quote a Seinfeld episode. "I think it just moved a little bit"

 Ammogasm!  :-)
Title: Re: The White House is pointing out that the US isn't really in a recession
Post by: jukin on July 29, 2022, 10:00:22 AM
This economy does not identify as a recession, so you cannot call it a recession or that's a hate crime.

LOL! HI5 brother.

I'm sure that is how a true lunatic progressive, but I repeat myself, thinks.
Title: Re: The White House is pointing out that the US isn't really in a recession
Post by: Wineslob on July 29, 2022, 02:00:25 PM
(http://i.imgur.com/gnyOyfH.jpg) (https://imgur.com/gnyOyfH)
Title: Re: The White House is pointing out that the US isn't really in a recession
Post by: jukin on July 29, 2022, 02:32:19 PM
Another economic record broken under Biden's policies: CONSUMER SENTIMENT HITS ALL TIME LOW.

The Biden economic plan is working... just not for 98% of the American public.
Title: Re: The White House is pointing out that the US isn't really in a recession
Post by: 67 Rover on July 29, 2022, 03:56:44 PM
Another economic record broken under Biden's policies: CONSUMER SENTIMENT HITS ALL TIME LOW.

The Biden economic plan is working... just not for 98% of the American public.

If you hate it now just wait until you drive it.  :lmao:
Title: Re: The White House is pointing out that the US isn't really in a recession
Post by: Ptarmigan on July 29, 2022, 06:42:50 PM
What is the difference between a recession and a depression?
https://www.frbsf.org/education/publications/doctor-econ/2007/february/recession-depression-difference/

Quote
Recession

Let’s start by defining a recession. As I mentioned, there are several commonly used definitions of a recession. For example, journalists often describe a recession as two consecutive quarters of declines in quarterly real (inflation adjusted) gross domestic product (GDP).

The definition used by economists differs. Economists use monthly business cycle peaks and troughs designated by the National Bureau of Economic Research (NBER) to define periods of expansion and contractions. The NBER website lists the peaks and troughs in economic activity starting with the December 1854 trough. The website also defines a recession as:

A recession is a significant decline in economic activity spread across the economy, lasting more than a few months, normally visible in real GDP, real income, employment, industrial production, and wholesale-retail sales. A recession begins just after the economy reaches a peak of activity and ends as the economy reaches its trough. Between trough and peak, the economy is in an expansion. Expansion is the normal state of the economy; most recessions are brief and they have been rare in recent decades.

Recession
https://corporatefinanceinstitute.com/resources/knowledge/economics/recession/

Quote
What is a Recession?
Recession is a term used to signify a slowdown in general economic activity. In macroeconomics, recessions are officially recognized after two consecutive quarters of negative GDP growth rates. In the U.S., they are declared by a committee of experts at the National Bureau of Economic Research (NBER).

Recessions are considered a part of the natural business/economic cycle of expansion and contraction. An economy starts to expand at its trough (weakest point) and starts to recede after reaching its peak (highest point). A deep recession that lasts for a long time eventually translates into a depression. In the early 1900s, the Great Depression lasted several years and witnessed a GDP decline in excess of 10%, with unemployment rates peaking at 25%.
Title: Re: The White House is pointing out that the US isn't really in a recession
Post by: Happy Fun Ball on July 30, 2022, 05:51:12 AM
(https://i.imgur.com/WRjAVjt.jpg)
Title: Re: The White House is pointing out that the US isn't really in a recession
Post by: SVPete on July 30, 2022, 06:15:46 AM
Obvious satire! Dr. Jill signed that bill. :rimshot:
Title: Re: The White House is pointing out that the US isn't really in a recession
Post by: ADsOutburst on July 30, 2022, 03:59:21 PM
This economy does not identify as a recession, so you cannot call it a recession or that's a hate crime.

But we're not in a depression. Okay, we are, but you can treat a depression with medication.
Title: Re: The White House is pointing out that the US isn't really in a recession
Post by: FaC on July 31, 2022, 03:41:58 PM
This is true according to the new Merriam-Webster definition.  ::)

Thanks Brandon bunch.

Notice that the Wikipedia page has also been conveniently locked...
Title: Re: The White House is pointing out that the US isn't really in a recession
Post by: SVPete on July 31, 2022, 03:51:35 PM
Notice that the Wikipedia page has also been conveniently locked...

Apparently a Edit War happened, and the page got locked … after the last pro-LIEden edit, of course.
Title: Re: The White House is pointing out that the US isn't really in a recession
Post by: Rebel on July 31, 2022, 04:23:22 PM
We're in a depression. The "wiki" definition may not say so, and we may not have reached it yet by the actual definition, but we are. Whenever the statement is made is not when it begins. Not being a negative Nancy here, but I see all indicators and work in a field that shows me firsthand on a daily basis. We have cattle farmers selling off their cattle. Hay farmers going out of business. Anything with protein like tubs, grain, etc. has skyrocketed.

Inflation is out of control. You raise interest rates when the economy is kicking ass to slow growth before it gets out of control. They've raised rates, what, 3 times already? Inflation just hit 9.1%. People are running out of disposable income and using savings just to buy fuel and food. They're letting cattle graze on what's growing in the fields.....and since chems and fertilizer have SKYROCKETED weeds are more expensive to control as well as it being more expensive to get the right nutrients to the forage grasses. We could take BOTH chambers in Congress but the damage has been done. They could pass whatever they want; it'll just be vetoed by whomever is controlling Biden, and let's not even pretend that dementia-ridden old, unaccomplished FOOL, is making his own decisions. Now they're trying to pass even more spending, MANCHIN INCLUDED. They'll have to print even more money.

This will not correct itself. Markets go up and down. That's the natural process. This BS is self-caused. Trump is the only one who can fix this. Sorry, it is what it is and this is just my opinion. I'm all about Ron DeSantis as a Floridian, but Trump knows business. We're in for some hard times. I honestly think whoever's handling Biden wants this country destroyed and our economy gutted to usher in socialism.
Title: Re: The White House is pointing out that the US isn't really in a recession
Post by: Rebel on July 31, 2022, 04:29:12 PM
Fuel, fertilizer, and feed are the main drivers of any economy. People are going to eat and need to travel. The basics are food and transportation. Tech, new vehicles, etc. are comfort items. They'll do with what they have before they upgrade anything. "Buy an EV" if gas is too expensive? **** an EV. Luxury item.
Title: Re: The White House is pointing out that the US isn't really in a recession
Post by: Zathras on July 31, 2022, 04:39:21 PM
Such an apt comparison.

DUmmies=Raiders fans:

They throw snowballs with D batteries and/or rocks in them during snow games, and they do it with a smile.

In your example wouldn't that be DUmmies = Eagles fans?
Title: Re: The White House is pointing out that the US isn't really in a recession
Post by: jukin on August 01, 2022, 10:54:49 AM
We're in a depression. The "wiki" definition may not say so, and we may not have reached it yet by the actual definition, but we are. Whenever the statement is made is not when it begins. Not being a negative Nancy here, but I see all indicators and work in a field that shows me firsthand on a daily basis. We have cattle farmers selling off their cattle. Hay farmers going out of business. Anything with protein like tubs, grain, etc. has skyrocketed.

Inflation is out of control. You raise interest rates when the economy is kicking ass to slow growth before it gets out of control. They've raised rates, what, 3 times already? Inflation just hit 9.1%. People are running out of disposable income and using savings just to buy fuel and food. They're letting cattle graze on what's growing in the fields.....and since chems and fertilizer have SKYROCKETED weeds are more expensive to control as well as it being more expensive to get the right nutrients to the forage grasses. We could take BOTH chambers in Congress but the damage has been done. They could pass whatever they want; it'll just be vetoed by whomever is controlling Biden, and let's not even pretend that dementia-ridden old, unaccomplished FOOL, is making his own decisions. Now they're trying to pass even more spending, MANCHIN INCLUDED. They'll have to print even more money.

This will not correct itself. Markets go up and down. That's the natural process. This BS is self-caused. Trump is the only one who can fix this. Sorry, it is what it is and this is just my opinion. I'm all about Ron DeSantis as a Floridian, but Trump knows business. We're in for some hard times. I honestly think whoever's handling Biden wants this country destroyed and our economy gutted to usher in socialism.

You have that correct brother X1000.

The crisis is so bad and so deep that it could have only been done by socialist/communist/fascist/progressive government interference. As in every other country where these evil ideologies have been tried, the people are ruined for at least three generations.
Title: Re: The White House is pointing out that the US isn't really in a recession
Post by: CollectivismMustDie on August 01, 2022, 12:53:51 PM
Quote
less likely


As if the discussion is about card counting and odds in vegas, and not a simple binary.


These people are a pox on reality.



Title: Re: The White House is pointing out that the US isn't really in a recession
Post by: ADsOutburst on August 01, 2022, 01:42:49 PM
I heard a clip of someone saying "by the metrics that real experts use, we're not in a recession". Then I looked at the screen to see which "real expert" was talking.

It was Paul Krugman.  :lmao:
Title: Re: The White House is pointing out that the US isn't really in a recession
Post by: Rebel on August 01, 2022, 04:26:04 PM
I heard a clip of someone saying "by the metrics that real experts use, we're not in a recession". Then I looked at the screen to see which "real expert" was talking.

It was Paul Krugman.  :lmao:

The idiot who's been wrong about E.V.E.R.Y.T.H.I.N.G. Said the economy would crash once Trump took office and that it would take off like a rocket under Biden. Pretty much if the ****er tells me Friday is going to be a beautiful, sunny day, I'm taking the truck to forge through the floodwaters.
Title: Re: The White House is pointing out that the US isn't really in a recession
Post by: Ralph Wiggum on August 01, 2022, 05:11:30 PM
The idiot who's been wrong about E.V.E.R.Y.T.H.I.N.G. Said the economy would crash once Trump took office and that it would take off like a rocket under Biden. Pretty much if the ****er tells me Friday is going to be a beautiful, sunny day, I'm taking the truck to forge through the floodwaters.

Any mathematician worth their salt can produce a "forecast or projection" to reflect what the person who is paying for the study or research wants the result to be. Projections have built in assumptions, but smart eggs such as myself study the data and make recommendations accordingly not to be forced by a desired outcome.