GDP fell 0.9% in the second quarter, the second straight decline and a strong recession signal

Cnbc ^

[Red in Blue PA]

GDP numbers mist be negative 2 quarters in a row. That is the definition of recession. Not declining.

[John W]

Need to find a way to describe or name the cabal running Biden-Harris while still keeping their names in it.

[Houserino]

The left keeps talking up housing/job market, but they don’t seem to understand those are *always* lagging indicators. If the housing market collapses again, it could be a real struggle for this nation to go on as a functioning entity.

[OKSooner]

It’s not a recession, it’s a transition. /S

[abb]

Unexpectedly!!!!

[freespirit2012]

Santelli making the same point.

[mikelets456]

I’m waiting for the “It was Trump’s policies that put us in this recession” report.

[dforest]

B- but there is no recession. I’m tellin’ ya that is not what this is.. Its well, its a resetting of the economy. Yes it is a recession and they want it. You don’t, but they do. You don’t matter.

Actually it is folks. It is being done on purpose. They know what they are doing. What they don’t know and can’t predict with comfort is what we will do. They will keep us distracted with war, food shortages, pandemics etc while they justify their tyrannical actions as needed and slide in the takeover of the United States and the western nations.

Thinking about this nauseates me.

[Road Warrior ‘04]

But, but, but....Let’s move the goalposts!

[DoodleBob]

With all due respect, the books haven't been cooked for 20+ years.

There is a real economy...millions of Americans producing goods and services, millions of companies and individuals earning money, saving investing.

No economic measure is perfect, and GDP doesn't capture it all. But read any 10-K or 10-Q, or trade publications. Since 2010, we've been kicking economic butt.

Despite what the hate America crowd says, America is an economic titan, outpacing other nations on several metrics and innovating like no other. It's why they want to steal our technology and live here.

America makes up 4% of the world's population...

...and yet we crank out 24% of the planet's GDP.

And while we are at the top of the Countries that Consume the Most Oil (2020 barrels per day)

United States — 17,178,000
China — 14,225,000
India — 4,669,000
Saudi Arabia — 3,544,000
Japan — 3,268,000
Russia — 3,238,000
South Korea — 2,560,000
Brazil — 2,323,000
Canada — 2,282,000
— Germany 2,045,000

...we also top the list of Countries with the Highest Oil Production (barrels per day)

United States - 11,567,000
Russia - 10,503,000
Saudi Arabia - 10,225,000
Canada - 4,656,000
Iraq - 4,260,000
China - 3,969,000
United Arab Emirates - 2,954,000
Brazil - 2,852,000
Kuwait - 2,610,000
Iran - 2,546,000

Thus, we Americans, making up only 4% of the planet's headcount, produce about a quarter of GDP - punching way above our weight. In relative contrast, China is a joke.

And if THAT wasn't cool enough, America's 4% of the population is at the top of the equity market food chain:

And, of course, we win the gun race by a mile...

....but we're not losing the murder race.

As for the national debt, we have trillions in untapped oil and gas and mineral resources. IER estimated the worth of the government’s oil and gas technically recoverable resources to the economy to be about 8 times our national debt.

There are lots of problems in the US, but did you notice that even the economic doom newsletter sellers always take payment in fiat currency?

Brandon has screwed up a thriving economy. But America always roars back.

[FarCenter]

Approximately unchanged.

GDP is up in current dollars. Down 0.9% after application of seasonal adjustments and GDP implicit price deflator.

I’d think that 0.9% is roughly at the edge of the error bars on the adjustments.

[Boardwalk]

If they got Joey in office what can’t they do?

[PghBaldy]

Whoopi says:

“I know it wasn’t recession-recession. It was something else but I don’t believe it was recession-recession.”

[Lazamataz]

Brandon has screwed up a thriving economy. But America always roars back.

I agree with that, with one caveat: If national elections are permanently poisoned from the 2020 Great Fraud Event, then America will not persist through that.

[A_Former_Democrat]

Those bastards too

[Houserino]

I simply don't believe you. GDP/capita hasn't kept up with inflation for a long time, even when there barely was any inflation. Are you going to say this looks healthy?

[Lazamataz]

I>NBER asks is it Prolonged, Pronounced and Pervasive?

Whoopie Goldberg asks if it is "Recession" Recession.

[Shady]

I argue that they aren’t so much “shills” as they are out and out liars. I think it is a lot worse than that, IMHO.

[dsrtsage]

Hope for spare Change

[Lazamataz]

Whoopi says: “I know it wasn’t recession-recession. It was something else but I don’t believe it was recession-recession.”

I hate you. :^)