The White House is pointing out that the US isn't really in a recession

[jukin]

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.

[67 Rover]

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.

[Ralph Wiggum]

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.

[67 Rover]

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? 

[BannedFromDU]

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.

[67 Rover]

     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
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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
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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
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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."

[landofconfusion80]

     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.

[Aristotelian]

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).

[Rebel]

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.

[Texacon]

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

[67 Rover]

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! 

[jukin]

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.

[Wineslob]

[jukin]

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.

[67 Rover]

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. 

[Ptarmigan]

What is the difference between a recession and a depression?
https://www.frbsf.org/education/publications/doctor-econ/2007/february/recession-depression-difference/

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/

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%.

[Happy Fun Ball]

[SVPete]

Obvious satire! Dr. Jill signed that bill.

[ADsOutburst]

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.

[FaC]

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

Thanks Brandon bunch.

Notice that the Wikipedia page has also been conveniently locked...

[SVPete]

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.

[Rebel]

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.

[Rebel]

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.

[Zathras]

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?

[jukin]

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.