In other words, I need you all to deny the reality that’s before your eyes and repeat what I say. Just like what the decrepit old fool did when he blamed inflation on Putin.
safe and effective...
Recessions are NOT defined by GDP.
The GDP rule was a useful enough approximation back in the days when exports and imports were small components of GDP (and could be ignored).
Today, with exports and imports being large components, it is possible that a surge in imports (or, a suddenly larger trade deficit) will cause GDP to fall, even though production, employment, sales and income are rising.
These four, broad measures of economic activity - production, employment, sales and income - are called the coincident indicators. Together, they define or should define the business cycle.
But, wait. There’s more. Since the leading indicators have turned down three months running, we are probably heading to a recession if we aren’t already in one. So, the distinction between a recession defined by the GDP rule, and a recession defined by the coincident indicators may soon be academic.
The Biden administration has NO CREDIBILITY.
I had rather have the Three Stooges or Dumb and Dumber running the economy.
Honestly, this happens pretty much every time we’ve gone into recession since the Bush days.
My understanding was there is some economic council made up of academic economists who actually “declare” what everyone knows.
The two negatives in as row is a wall street and financial rule of thumb.
No one “wants” as recession. And the pols will always try to deflect the label being pinned on them. In this case, with Biden flailing around, the “two in a row” is going to get slapped on him pretty quickly.
The administration denying this is as old as administrations. While I despise Old Joe, this tactic has been pulled buy Dems and Reps alike over the years.
No doubt that’s coming from Ron Klain, a real life Wesley Mouch if ever there was one.
Two quarters with negative growth
We are already in the recession
Red, ease up opn these poor stupid lefty Democrats. Like so many other aspects of their destruction of America, they are “reimagining” recession.
A Re-imagined recession is not so bad! ( sarc.)
Dorothy the Democrat is still following the rabbit down that bunny hole in order to meet the Mad Hatter (Nancy Pelosi) , The Queen of Hearts ( Kamala Harris), and the Cheshire Cat ( Joe Biden).
A recession is not a recession.
A vaccine is not a vaccine.
High prices are normal.