Posted on 07/28/2022 6:56:04 AM PDT by Oldeconomybuyer
WASHINGTON (AP) — The U.S. economy shrank from April through June for a second straight quarter, contracting at a 0.9% annual pace and raising fears that the nation may be approaching a recession.
The decline that the Commerce Department reported Thursday in the gross domestic product — the broadest gauge of the economy — followed a 1.6% annual drop from January through March. Consecutive quarters of falling GDP constitute one informal, though not definitive, indicator of a recession.
Even with the economy recording a second straight quarter of negative GDP, many economists do not regard it as constituting a recession.
(Excerpt) Read more at apnews.com ...
Republican administration: RECESSION
Democrat administration: It's complicated...
The markets are starting to react now....all down.
However no recession with the new Biden definition of what a recession is. However if this was under President Trump there would be no end to the stories on how bad the economy is.
It’s a Recession, Jim...
One thing for sure, it’s STAGFLATION.
“Consecutive quarters of falling GDP constitute one informal, though not definitive, indicator of a recession.”
Informal. Not definitive. Just an indication.
There are a lot of excuses packed into that little sentence.
Jimmy carter is smiling right now....
Trump had the economy roaring. People back to work! Blacks working!
That made the left very mad. They absolutely would resort to anything to keep Trump from being reelected. So they found a solution! There was a ready-made deadly virus sitting in chinese labs. They found a way for it to spread and infect millions. The politicians closed millions of businesses and forced people to remain home. Millions of people were forced to stop working. The economy crashed. They blamed the crash on Trump!
Now that biden is in office they absolutely want the economy to improve. (Actually, they don’t - they just want us to think it is - so biden gets reelected).
Ergo, the economists are saying things like: “many economists do not regard it as constituting a recession.”
Fixed it for you.
Precious Metals up SHARPLY on current economic events:
http://www.321gold.com/
We’ve been in a recession for 1-2 months; we’re headed for a depression.
This is a transitory recession.
Yep, the monkey is off his back for being the worst president, he has officially passed the torch, he hung on just for this moment.
Everybody gets to see how 1929 got started.
I have no interest in screeching about the economy, or worrying over the FED and the govt. I’m only interested in how to respond to conditions. Recessions are necessary, that’s why they happen. The last boom was great, the last recession worked out very well too.
I started adjusting last fall, still doing so, and will continue to do what I think will work out best.
Because my tagline has the important answer.
Not to worry..we will all buy 50k and up... EVs.
And chow down on roasted grass and pay insanely high prices for gas and food.. everything is good.
For the wealthy politicians and ASSoc.. anyhow.
Not to worry..we will all buy 50k and up... EVs.
And chow down on roasted grassHOPPERS and pay insanely high prices for gas and food.. everything is good.
For the wealthy politicians and ASSoc.. anyhow.
STUPID AUTOCORRECT!
kind of like our government.
...Consecutive quarters of falling GDP constitute one informal, though not definitive, indicator of a recession.
—
The lapdog press dutifully follows the lead of whatever propaganda is pumped out by the Biden admin.
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