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

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 ...


TOPICS: News/Current Events
KEYWORDS: 1; bidensfault; democratsnewmath; demsnewdefinition; gdp; obamasfault; recession
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It's official. We are in a recession. No way to spin this.
1 posted on 07/28/2022 5:32:21 AM PDT by Red in Blue PA
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To: Red in Blue PA

And there it is... we are officially in a recession.


2 posted on 07/28/2022 5:32:55 AM PDT by ScottinVA (Кчерту Путина, Kчерту Россию)
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To: Red in Blue PA

It’s not a recession “signal” - it’s the definition of a recession.


3 posted on 07/28/2022 5:33:35 AM PDT by circlecity
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To: Red in Blue PA

Goldman Sachs economists boosted their gross domestic product forecast to 1% from 0.4% after the data.

https://www.cnbc.com/2022/07/27/us-economy-probably-barely-grew-last-quarter-and-may-have-contracted.html

Fire those forecasters.


4 posted on 07/28/2022 5:33:50 AM PDT by Red in Blue PA (You can vote your way into socialism, but you have to shoot your way out.)
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To: Red in Blue PA

“strong signal”...

Like saying stage 4 pancreatic cancer is a ‘strong signal’ of a problem.


5 posted on 07/28/2022 5:33:51 AM PDT by Houserino
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To: circlecity

Simple, change the definition.


6 posted on 07/28/2022 5:34:39 AM PDT by Boardwalk
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To: Red in Blue PA

Moody’s nailed it. Forecast was -1.0%. Data was -0.9%.


7 posted on 07/28/2022 5:34:45 AM PDT by montag813
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To: Red in Blue PA

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.


8 posted on 07/28/2022 5:34:56 AM PDT by cdcdawg (Hoes mad! LOL! )
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To: Red in Blue PA

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.


9 posted on 07/28/2022 5:36:21 AM PDT by CatOwner (Don't expect anyone, even conservatives, to have your back when the SHTF in 2021 and beyond.)
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To: All

Signal ?


10 posted on 07/28/2022 5:36:48 AM PDT by escapefromboston (Free Chauvin)
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To: cdcdawg

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.


11 posted on 07/28/2022 5:36:51 AM PDT by Red in Blue PA (You can vote your way into socialism, but you have to shoot your way out.)
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To: Red in Blue PA

NBER asks is it Prolonged, Pronounced and Pervasive?


12 posted on 07/28/2022 5:37:21 AM PDT by griswold3 (When chaos serves the State, the State will encourage chaos.)
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To: Red in Blue PA

If a tree falls in the forest, does it make a sound if the media refuses to hear it?


13 posted on 07/28/2022 5:38:15 AM PDT by ClearCase_guy (We are already in a revolutionary period, and the Rule of Law means nothing. It's "whatever".)
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To: escapefromboston; All

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.


14 posted on 07/28/2022 5:38:26 AM PDT by Red in Blue PA (You can vote your way into socialism, but you have to shoot your way out.)
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To: cdcdawg

Yep, this is really incredible. I’m almost shaking mad at how the MSM is trying to sugar coat it.


15 posted on 07/28/2022 5:39:13 AM PDT by Houserino
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To: Boardwalk

Just like they did for vaccine !! Yet many here deny that ever happened.


16 posted on 07/28/2022 5:39:39 AM PDT by maddog55 (The only thing systemic in America is the left's hatred of it!)
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To: Red in Blue PA

They can’t handle the Truth. The emperor has no clothes!


17 posted on 07/28/2022 5:39:57 AM PDT by Boardwalk
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To: Red in Blue PA

The party says two negative quarters no longer signals a recession. Try to keep up, citizen.


18 posted on 07/28/2022 5:41:49 AM PDT by hinckley buzzard ( Resist the narrative.)
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To: griswold3; CatOwner
Facts are friends.

The NBER’s Business Cycle Dating Committee maintains a chronology of US business cycles. The chronology identifies the dates of peaks and troughs that frame economic recessions and expansions. A recession is the period between a peak of economic activity and its subsequent trough, or lowest point. Between trough and peak, the economy is in an expansion. Expansion is the normal state of the economy; most recessions are brief. However, the time that it takes for the economy to return to its previous peak level of activity or its previous trend path may be quite extended. According to the NBER chronology, the most recent peak occurred in February 2020. The most recent trough occurred in April 2020.

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.

19 posted on 07/28/2022 5:42:36 AM PDT by DoodleBob (Gravity’s waiting period is about 9.8 m/s²)
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To: Red in Blue PA

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


20 posted on 07/28/2022 5:43:56 AM PDT by A_Former_Democrat ( Liberty Valance Time. The point of a gun is the only law the left understands)
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