Posted on 07/28/2022 6:06:59 AM PDT by Macky Cracklins
The U.S. economy contracted in the second quarter of 2022 as the economy was battered by four-decade high inflation, record high fuel prices, soaring food costs, and tighter monetary policy.
The government reported Thursday that Gross Domestic Product shrank by 0.9 percent in the April through June period. Economists had expected the economy to grow by 0.3 percent, according to the Wall Street Journal.
The economy contracted by 1.6 percent in the second quarter. Many Americans consider two straight quarters of recession to be the marker of a recession. Economists, however, rely on the determination of the National Bureau of Economic Research to say when a recession starts. The NBER has a more complex and subjective definition of recessions and typically does not declare a recession until several months after it has begun.
(Excerpt) Read more at breitbart.com ...
The media says....
Biden as president: this isn’t a recession.
Trump as president: we’re in a deep recession.
Hmm looks like they pulled the recession link on the FOX website. Error 404...
“HE WILL GO DOWN IN HISTORY AS WORSE THAN CARTER!”
Meh. That history will be written by the victorious communists. The communists got to the children and before we realized what was going on, indoctrinated the masses.
Biden will be remembered as a valiant agent of change.
God I pray you’re wrong.
‘”VVV” - Our Valiant Vitorius Vegetable.
“but wait, the dems are now redefining the meaning of recession to cover their inadequate policies.”
Well, yeah. The highly compensated Economists used very sharp pencils and got the contraction rated down to 0.9%. Now they will tell us, through ABCNNBCBS the since the GDB shrunk less that 1%, there really is no recession.
It’s a transitory recession.
“God I pray you’re wrong.”
I would love to be wrong. I’m just going by what I see. My vision is clouded by living in the blue part of Ohio.
“Baddacafcar.”
Economists, however, rely on the determination of the National Bureau of Economic Research to say when a recession starts.
Bullshitter me more Brandon. Gas Light Me More!!
It’s a recession transitioning into a depression.
I.Need.More.Coffee.
With the package that Manchin & Seneca say they’re voting for we get Stagflation sprinkles on this economic caje!
With the package that Manchin & Seneca say they’re voting for we get Stagflation sprinkles on this economic caje!
They can tell us whatever in the hell they want, WE are at the grocery stores, gas stations, shopping for back to school, trying to find baby formula, trying to find CAT FOOD for God’s sake, they can SPEW all the propaganda they want it just proves to MORE American people what LIARS the media are!!! People may be stupid BUT they are not so stupid they don’t believe what the hell is happening to their pocketbooks!!
How the heck are all the markets up? Yesterday the Fed raises the rate, yesterday they agree on another trillion in tax and spend and today we are in a recession-—but everything is up...why?
> the dems are now redefining the meaning of recession
They redefined “vaccine”, “woman” and “man” too. We really are living with 1984 newspeak.
Because the economy is not that bad, inflation notwithstanding.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.