Posted on 07/30/2022 11:09:09 PM PDT by knighthawk
Facebook placed a 'fact-checking' label on a post written by a top economist stating that the United States is now in a recession - a move he termed 'Orwellian'.
Two consecutive quarters of negative growth is the standard definition of a recession, and Phillip Magness, the research and education director at the American Institute for Economic Research, posted on Facebook a commentary about the country now being in a recession.
The post - which is no longer visible - was marked by Facebook's fact checkers as being misleading.
(Excerpt) Read more at dailymail.co.uk ...
Remember when we used to ask each other how the Russian people could believe Soviet propaganda? Well, now we know.
The funny thing is the little twerps think they are accomplishing something. Can you imagine being that dumb and thinking they’re so smart?
The groomers are busy.
Wonder how they will explain the coming depression. I guess soup kitchens and tin cities will be called new government aid programs.
The sad fact is that liberals believe the BS spewed by the MSM.
Liberals are stupid, that is why they are liberals. If you could set them down and educate them about the truth they would stop being a liberal.
The first sentence in the article:
“ Phillip Magness, the research and education director at the American Institute for Economic Research, believes the U.S. is in a recession”
It says ‘he believes’ the US is in a recession. Talk about confirming his point about this being Orwellian.
No, there is no saving a human who was propagandized into being a liberal/leftist. They are not redeemable.
It is a pre-depression
AOC says 2 negative quarters is only minus 50 cents.
What’s the problem?
Consider the Harvard education of Mark Zuckerberg. There is a void in his education where it applies to the true American history, philosophy, world history, political science, sociology and the classic writings of the great minds of the Western World. What did he study? Code writing and psychology. His education has made him a moral midget.
There is no article on free republic announcing a recession except in chat. I posted it in breaking when the gdp was announced, and FR quickly sent it to chat and had it taken out of news. I protested and... crickets...
Does FR now have biden fact checkers?
In many ways liberalism is a cultish religion, and some followers are just as delusional and fervent as those who blow themselves up and kill others.
The Atlantic is going to need to work a heck of a lot harder than that if they want to beat George Orwell.
They are not even close yet.
Chuckle.
Operation Fly Soup?
Tucker Carlson: The US is in a recession, the economy has been shrinking all year (OPINION Published July 29, 2022)
Tucker torches officials for redefining the word ‘recession’
https://www.foxnews.com/opinion/tucker-carlson-us-recession-economy-shrinking-all-year
Tucker Carlson: The Biden administration won’t even admit what a recession is (Jul. 30, 2022)
https://video.foxnews.com/v/6310206746112#sp=show-clips
I would not be surprised. Do you have an alternative you recommend? Nothing seems to last forever.
Q: The financial press often states the definition of a recession as two consecutive quarters of decline in real GDP. How does that relate to the NBER's recession dates?
A: Most of the recessions identified by our procedures do consist of two or more consecutive quarters of declining real GDP, but not all of them. In 2001, for example, the recession did not include two consecutive quarters of decline in real GDP. In the recession from the peak in December 2007 to the trough in June 2009, real GDP declined in the first, third, and fourth quarters of 2008 and in the first and second quarters of 2009. Real GDI declined for the final three quarters of 2001 and for five of the six quarters in the 2007–2009 recession.
Q: Why doesn't the committee accept the two-quarter definition?
A: There are several reasons. First, we do not identify economic activity solely with real GDP, but consider a range of indicators. Second, we consider the depth of the decline in economic activity. The NBER definition includes the phrase, “a significant decline in economic activity." Thus real GDP could decline by relatively small amounts in two consecutive quarters without warranting the determination that a peak had occurred. Third, our main focus is on the monthly chronology, which requires consideration of monthly indicators. Fourth, in examining the behavior of production on a quarterly basis, where real GDP data are available, we give equal weight to real GDI. The difference between GDP and GDI—called the “statistical discrepancy”—was particularly important in the recessions of 2001 and 2007–2009.
That’s the easy part. Very few born in the past thirty years even understand what the depression was let alone know the cause. Besides the, “you can’t imagine how bad it could have been if not for government,” excuse works every single time.
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