Only took Biden 18 months to get us into recession.
2nd qtr gdp released: MINUS .9%. Official recession by definition no matter wh lies.
- Thread starter Orangeclad
- Start date
Yep they will be spinning the heck out of this.
Elections have consequences & stolen elections have catastrophic consequences!
Biden promised economic stagnation and higher crime rates in Democrat debates. Biden did not actively campaign. The rare campaign rally didn't draw flies. The slow are angry because the thinking question an all time record Americans stupid enough to vote for what Biden promised and is delivering.
Listen. If ANYONE is surprised that people who simply cannot tell what gender someone is when they drop their drawers should not be surprised that they could change the definition of what a recession is, you have been asleep for a few decades
We are watching sworn criminals destroy this country in live time.
Biden is a human wrecking ball
We aren't playing word games here. The technical definition of a recession has been met.
The United States officially entered a recession at the beginning of July based on the accepted definition perpetrated by modern economics. After 1Q GDP came in at -1.6 percent, 2Q GDP has now been released, showing -0.9 percent.
We aren't playing word games here. The technical definition of a recession has been met.
The United States officially entered a recession at the beginning of July based on the accepted definition perpetrated by modern economics. After 1Q GDP came in at -1.6 percent, 2Q GDP has now been released, showing -0.9 percent.
BTW what the hell is up with Hiden never blinking? Is he a robot? Not real president? What's going on here???
Its probably the alzheimers medication they are giving him.
But ask yourself, are they really brainless, soul-less sheep that abide by the state? Or are they people operating under a different, yet dangerous agenda? Obviously to me it's the latter more so than the earlier.
Well, since it was "pre" recorded and not live, maybe just a coincident from all the retakes/editting by the WhiteHouse.
He was shooting for 12 months.
Wish @CFAGator was here to explain to us how this is another sign of a booming economy.
This will be “adjusted” to minus 1.5% within 45 days - BANK ON THAT!
I think the Biden Admin will change the way its calculated again, so that its +1.0% and then say, SEE No recession.
Hiden is already claiming that he has SAVED American familes $70 a month on gas.
The classic definition of a man who's lost all touch with reality on the economic front......
"Coming off of last year’s historic economic growth–and regaining all the private sector jobs lost during the pandemic crisis–it’s no surprise that the economy is slowing down as the Federal Reserve acts to bring down inflation,” Biden said in a statement after Thursday’s figures were released. “But even as we face historic global challenges, we are on the right path and we will come through this transition stronger and more secure.”
- Poopy Joe Biden💩
"Coming off of last year’s historic economic growth–and regaining all the private sector jobs lost during the pandemic crisis–it’s no surprise that the economy is slowing down as the Federal Reserve acts to bring down inflation,” Biden said in a statement after Thursday’s figures were released. “But even as we face historic global challenges, we are on the right path and we will come through this transition stronger and more secure.”
- Poopy Joe Biden💩
Its sinking faster than -0.9% a quarter.Biden is a human wrecking ball
We aren't playing word games here. The technical definition of a recession has been met.
The United States officially entered a recession at the beginning of July based on the accepted definition perpetrated by modern economics. After 1Q GDP came in at -1.6 percent, 2Q GDP has now been released, showing -0.9 percent.
We are furloughing plant employees and shutting buildings down.
My job could be at risk if it goes on for another 2-3 quarters. They'll cut ops and logistics first, then Sales and Marketing. Problem is I've been doing this (or similar) for 21 years, I make too much to survive a massive downturn in the economy.
Cant read the teleprompter with his eyes closed...AND he worries he may fall asleep if he blinks too long! LOLOL
Libs are SO STUPID.The classic definition of a man who's lost all touch with reality on the economic front......
"Coming off of last year’s historic economic growth–and regaining all the private sector jobs lost during the pandemic crisis–it’s no surprise that the economy is slowing down as the Federal Reserve acts to bring down inflation,” Biden said in a statement after Thursday’s figures were released. “But even as we face historic global challenges, we are on the right path and we will come through this transition stronger and more secure.”
- Poopy Joe Biden💩
Yeah, but the problem is he costs me over $200 more in gas before he saved me anything, so still spending $130+ more.
Yep. BScuck logic. Notice how BScuck doesn't post about gas prices anymore? 😂
I feel for you brother. My unsolicited advice...cut your spending as much as you can and try to develop a new income stream. I pray that it never becomes necessary for you and your family.
Thanks
I have alot of savings (+ equity in our home), an MBA, 21+ years of Marketing and Sales experience and a willingness to do whatever it takes to support my family.
We'll figure it out if something bad happens.
Just like all those job gains?
It's like me gaining 100lbs and then losing 5 and bragging about it.
You JUST described BScuck's comments about Poopy Pant's gas price reduction. 😂
Well done!
POS
A Petulant Joe Biden Makes a Cowardly Move in Presser Held After GDP News
With unemployment at 3.6% and the country still adding hundreds of thousands of jobs monthly I don’t think we are in a recession, I do, however, think we will be in one by the fourth quarter. Draining the trump swamp will take a couple of years, hold on girls!!!
Leaked info here: A senior biden for official gave some juicy inside information on how they prepare “The big guy” for appearances. This senior official provided video.POS
A Petulant Joe Biden Makes a Cowardly Move in Presser Held After GDP News
Tell us you’re a flaming liberal without telling us you’re a flaming liberal.
Real GDP declined at a 0.9% annual rate in Q2, lagging the consensus expected +0.4% rate.
The largest negative drag on the real GDP growth rate in Q2, by far, was inventories, with home building, commercial construction, business investment in equipment, and government purchases also holding real GDP down. Net exports, consumer spending, and business investment in intellectual property all increased in Q1.
Personal consumption, business fixed investment, and home building, combined, was unchanged (0.0%) in Q2.
The GDP price index increased at an 8.7% annual rate in Q2 and is up 7.5% from a year ago. Nominal GDP (real GDP plus inflation) rose at a 7.8% annual rate in Q2 and is up 9.3% from a year ago.
Implications: Stagflation, yes, official recession, not yet. We understand that people think (and some feel) that this is a recession, but the first half of the year included payrolls growing 457,000 per month, lower unemployment, and industrial production up at 5.0%+ annual rate. These things don’t happen during recessions and we would not be surprised if at least one of the first two quarters of the year is later revised positive. For now, however, the government estimates that real GDP declined at a 0.9% annual rate in the second quarter after falling at a 1.6% rate in Q1. The big drag in the second quarter was a slowdown in the pace of inventory accumulation, which, all by itself, reduced real GDP growth by two percentage points; excluding inventories, real GDP would have grown in Q2. However, inventories were not the only soft part of the economy. On an inflation-adjusted basis, home building dropped at a 14% annual rate while commercial construction fell at an 11.8% rate. Business investment in equipment also declined, as did consumer spending on goods. Meanwhile, consumer spending on services rose as did net exports, and business investment in intellectual property. Although we do not believe the economy entered a recession in the first half of 2022, we are certainly not saying the GDP report was good news. “Core” GDP, which includes consumer spending, business investment, and home building, was unchanged in Q2, the softest showing since the COVID shutdowns. And the economy is also being ravaged by inflation, with the GDP deflator up at an 8.7% annual rate in Q2, the fastest pace for any quarter since 1981. What does this all mean for the Federal Reserve? Likely nothing compared to where it was yesterday after its meeting. Today’s GDP report is a rearview of April through June; before its next meeting in September the Fed will be focused on new information about jobs, consumption, and inflation. In that regard, it’s still a mixed bag. Initial claims for unemployment insurance declined 5,000 last week to 256,000. Continuing claims fell 25,000 to 1.359 million. Yes, consumption of goods is slowing as government checks have stopped, but services spending from reopening is growing. Pending home sales dropped 8.6% in June as rate hikes impact the economy, but corporate earnings are still rising. The economy must pay a price for the mistakes of COVID policy and we think a recession is inevitable, just not quite yet.
The largest negative drag on the real GDP growth rate in Q2, by far, was inventories, with home building, commercial construction, business investment in equipment, and government purchases also holding real GDP down. Net exports, consumer spending, and business investment in intellectual property all increased in Q1.
Personal consumption, business fixed investment, and home building, combined, was unchanged (0.0%) in Q2.
The GDP price index increased at an 8.7% annual rate in Q2 and is up 7.5% from a year ago. Nominal GDP (real GDP plus inflation) rose at a 7.8% annual rate in Q2 and is up 9.3% from a year ago.
Implications: Stagflation, yes, official recession, not yet. We understand that people think (and some feel) that this is a recession, but the first half of the year included payrolls growing 457,000 per month, lower unemployment, and industrial production up at 5.0%+ annual rate. These things don’t happen during recessions and we would not be surprised if at least one of the first two quarters of the year is later revised positive. For now, however, the government estimates that real GDP declined at a 0.9% annual rate in the second quarter after falling at a 1.6% rate in Q1. The big drag in the second quarter was a slowdown in the pace of inventory accumulation, which, all by itself, reduced real GDP growth by two percentage points; excluding inventories, real GDP would have grown in Q2. However, inventories were not the only soft part of the economy. On an inflation-adjusted basis, home building dropped at a 14% annual rate while commercial construction fell at an 11.8% rate. Business investment in equipment also declined, as did consumer spending on goods. Meanwhile, consumer spending on services rose as did net exports, and business investment in intellectual property. Although we do not believe the economy entered a recession in the first half of 2022, we are certainly not saying the GDP report was good news. “Core” GDP, which includes consumer spending, business investment, and home building, was unchanged in Q2, the softest showing since the COVID shutdowns. And the economy is also being ravaged by inflation, with the GDP deflator up at an 8.7% annual rate in Q2, the fastest pace for any quarter since 1981. What does this all mean for the Federal Reserve? Likely nothing compared to where it was yesterday after its meeting. Today’s GDP report is a rearview of April through June; before its next meeting in September the Fed will be focused on new information about jobs, consumption, and inflation. In that regard, it’s still a mixed bag. Initial claims for unemployment insurance declined 5,000 last week to 256,000. Continuing claims fell 25,000 to 1.359 million. Yes, consumption of goods is slowing as government checks have stopped, but services spending from reopening is growing. Pending home sales dropped 8.6% in June as rate hikes impact the economy, but corporate earnings are still rising. The economy must pay a price for the mistakes of COVID policy and we think a recession is inevitable, just not quite yet.
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