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Nothing has been redefined, the NBER has always made the call based on a variety of factors.
lol D_F's lame-brained conspiracies.
https://www.nber.org/research/busine...sked-questions
If we had two consecutive quarters of negative GDP under the GOP, this wouldn't even be a question. The media would refer to the miserable recession we are in on a daily basis.
I'll admit that with the covid reset it does have a different feel to it, but the term has definitely been slyly redefined.
Nothing has been redefined, the NBER has always made the call based on a variety of factors.
lol D_F's lame-brained conspiracies.
https://www.nber.org/research/busine...sked-questions
Last edited by Winehole23; 10-27-2022 at 09:47 AM.
How much money have you lost because of Joe?
"Q3 GDP is up and the DJIA is having its best October ever. This is bad news for Joe Biden and the US economy..."
Oh good. The GDP is up and stocks are up. That will surely offset inflation for actual people.
who said it would?
what was the point in your post?
to counter obviously partisan doom and gloomers who exaggerate and intentionally misstate a complicated state of affairs.
parsing the definition of recession isn't descriptive, it misses the point. if you want to complain about inflation, fine. just don't call that something it isn't.
I didn't see that post. But I do agree that things are deteriorating quickly for mid to lower income people. Not that it's Biden's fault. It was going to fall on whoever was the president.
But food prices are nuts. And gas prices are still relatively high. Not to mention the high mortgage rates.
It looks that way to me too.
You lack a though, that’s why she’s my wife, not yours.
Q3 GDP is up
The latest data from the Department of Commerce show that the economy, as measured by gross domestic product (GDP), grew 2.6% from July through September, at an annualized rate. After two consecutive quarters of negative growth, the economy is now roughly flat for the first nine months of 2022. Although depressing, that’s not the worst part – the real devil is always in the details.
The third quarter GDP report does not show a stronger consumer or a healthy business climate. Rather, consumer expenditures grew at an anemic 1.4% and business investment fell for the second quarter in a row, dropping 8.5%. These two categories combined for a decrease of 0.62 percentage points to GDP while government spending grew 2.4%. Even including the nonproductive government sector, these three categories combined contributed -0.2 percentage points to GDP growth.
So, from where did all the growth come? A category called net exports. This is total exports minus total imports and is commonly called the trade deficit. It shrunk substantially in the third quarter, and that added to GDP.
Interpreting the actual impact of changes in net exports can be tricky. In this case, imports fell 6.9% as Americans were unable to afford as many foreign goods and services as before. This, combined with an increase in exports, added 2.77 percentage points to GDP—more than the total in the headline number.
Far from signs of wealth, these data indicate decline. Although the headline GDP number is positive for the third quarter, it does not reflect an improvement in the life of the common man, contrary to the White House’s rhetoric.
https://www.foxbusiness.com/politics...te-houses-spin
lowering trade deficits bad now
Q3 GDP is upWhite House Spin
The doom and gloomers are bipartisan
The best case I've heard is this mild recession turns into lengthy stagflation. The more likely scenario is stagflation and another financial crisis. Seems like the majority view is that the financial crisis will lead the Fed to forget about inflation and once again drop interest rates and restart QE to save the broken global financial system. The one alternative view I've heard is that when the financial system cracks the Fed will continue to maintain restrictive policy to "fight" inflation while removing the limits on the amount of treasuries the banks can hold with a wink and a nod. That would essentially be QE that doesn't show up on the Feds balance sheet thus the Fed would technically be adhering to its mandate to control inflation. So they will be protecting the financial markets and leaving the plebs to suffer. It's impossible to know exactly what gimmicks central banks are going to employ but I think it's a safe bet that when they are faced with a choice between protecting themselves and protecting the average citizen they will choose themselves.
I haven't heard a bull case that isn't pie in the sky everything will be fine thinking. I think long termers should be ready for a whole lot of dollar cost averaging in their future. Which is fine if you've got the time.
For months, doomsayers have been arguing that the US economy is in a recession and Congressional Republicans have been rooting for a downturn. But today we got further evidence that our economic recovery is continuing to power forward.
Lowering trade deficits because people can’t afford imports good now.
Trump s praying for the worst.
Some stuff from Britain is pretty cheap these days tbh.
For months, doomsayers have been arguing that the US economy is in a recession and Congressional Republicans have been rooting for a downturn. But today we got further evidence that our economic recovery is continuing to power forward.
Do you think GDP going up due to the fact that people are not able to afford buying imports is evidence that our economic recovery is continuing to power forward? Yes or no.
And just wait until the railroads go on strike. Naturally, it too was postponed until after the November election.
Exports grew too. America first bad now.
Meh, Brandon is going to be around two more years…
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