Posted on 07/28/2022 5:32:21 AM PDT by Red in Blue PA
Gross domestic product was expected to increase 0.3% in the second quarter, according to Dow Jones estimates.
(Excerpt) Read more at cnbc.com ...
And there it is... we are officially in a recession.
It’s not a recession “signal” - it’s the definition of a recession.
Goldman Sachs economists boosted their gross domestic product forecast to 1% from 0.4% after the data.
Fire those forecasters.
“strong signal”...
Like saying stage 4 pancreatic cancer is a ‘strong signal’ of a problem.
Simple, change the definition.
Moody’s nailed it. Forecast was -1.0%. Data was -0.9%.
I remember back in the Bush years when the media was trying to say we were in a recession before there had been one quarter in the negative. Now, two won’t do it. Their propaganda isn’t going to be enough to save Brandon and his merry band of losers.
Is it a “recession” if the White House and the MSM don’t call it one? There’s reality, which is no way resembles what’s being fed to a majority in this country.
Signal ?
Brandon is the most hated man in America, yet all the media does is cover for him.
Imagine for a second this happened under Trump.
NBER asks is it Prolonged, Pronounced and Pervasive?
If a tree falls in the forest, does it make a sound if the media refuses to hear it?
Liberal economist Paul Krugman appeared to acknowledge as much in a tweet promoting his latest New York Times op-ed on Wednesday when he urged Americans to “ignore the two-quarter rule.”
https://www.foxbusiness.com/politics/biden-admin-allies-make-recession-denial-push-ahead-gdp-report
Nothing but paid shills.
Yep, this is really incredible. I’m almost shaking mad at how the MSM is trying to sugar coat it.
Just like they did for vaccine !! Yet many here deny that ever happened.
They can’t handle the Truth. The emperor has no clothes!
The party says two negative quarters no longer signals a recession. Try to keep up, citizen.
The NBER's definition emphasizes that a recession involves a significant decline in economic activity that is spread across the economy and lasts more than a few months. In our interpretation of this definition, we treat the three criteria—depth, diffusion, and duration—as somewhat interchangeable. That is, while each criterion needs to be met individually to some degree, extreme conditions revealed by one criterion may partially offset weaker indications from another. For example, in the case of the February 2020 peak in economic activity, the committee concluded that the subsequent drop in activity had been so great and so widely diffused throughout the economy that, even if it proved to be quite brief, the downturn should be classified as a recession.
Because a recession must influence the economy broadly and not be confined to one sector, the committee emphasizes economy-wide measures of economic activity. The determination of the months of peaks and troughs is based on a range of monthly measures of aggregate real economic activity published by the federal statistical agencies. These include real personal income less transfers, nonfarm payroll employment, employment as measured by the household survey, real personal consumption expenditures, wholesale-retail sales adjusted for price changes, and industrial production. There is no fixed rule about what measures contribute information to the process or how they are weighted in our decisions. In recent decades, the two measures we have put the most weight on are real personal income less transfers and nonfarm payroll employment.
Not down just 0.1 percent
Not down just 0.3 percent
Not up just 0.1 percent
Down 0.9 percent
Atta boy PedoJoe Shame on you people who voted for this POS, especially you white suburbanites Screw you
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