Alt right putting out some stupid statements about whether we are in a recession

[Walt]

First of all, we are not in the worst recession of all time. We might be barely in a recession, or maybe not.

The oversimplified definition of a recession is two GDP declines in a row. There was a minor decline reported in the first quarter, and on July 28th, we may hear there was another minor decline. We will not hear there was a huge decline in either quarter, and almost certainly we will hear of an upward revision in the first quarter. There might not have been a decline at all in the first quarter.

The NBER, and other economists look at more than just the GDP, and right now there are some strange things happening to the GDP. In 2001, there were not two consecutive quarters of negative GDP growth, and yet there was a recession. Other statistics pointed to a recession, so the overall economy was declared in recession. The reverse can easily happen.

GDP is the older statistic, but GDI (Gross Domestic Income) is usually considered slightly better. Product and income should match up perfectly, but call upon slightly different statistics, and therefore always differ slightly. Right now they differ greatly.

GDI shows positive growth in the first quarter. That means that GDP will be revised upwards for the first quarter. It may not end up positive, but it will definitely end up higher. It also means the economy is doing better than the not that bad that the GDP shows.

https://www.economist.com/finance-a...understates-the-strength-of-americas-recovery
https://www.economist.com/united-st...erica-may-officially-avoid-a-downturn-for-now

 

[ThatOwlWoman]

One thing the Reichwingers pretend not to know is that the entire world is dealing with inflation, not just the U.S. And just as it always has in the past, this too shall pass.

 

[Monad Portal]

One thing the Reichwingers pretend not to know is that the entire world is dealing with inflation, not just the U.S. And just as it always has in the past, this too shall pass.

the rest of the world may be dumping the dollar for the BRICS commodity based dollar.

the cabal abused it into oblivion, and are now dumping the the dollar, and americans along with it, after vacuuming up real assets.

 

[evince]

Right wing economic ideas always cause most people pain in the end



All the facts show that



Someday everyone will realize it even while evil entities like fox lie about it

 

[Lionfish]

 

[Walt]

the rest of the world may be dumping the dollar for the BRICS commodity based dollar.

the cabal abused it into oblivion, and are now dumping the the dollar, and americans along with it, after vacuuming up real assets.

The Dollar is doing rather well, which is the opposite of what you are claiming.

 

[cawacko]

I'll bite. At the end of June there was a third and supposedly final revision to Q1 GDP and it was revised downward, to -1.6%. Yet there's actually going to be another revision in the future, and this time it's going to go much higher and possibly end up in positive territory? When will this occur?

 

[Theywillneverlearn!]

I'll bite. At the end of June there was a third and supposedly final revision to Q1 GDP and it was revised downward, to -1.6%. Yet there's actually going to be another revision in the future, and this time it's going to go much higher and possibly end up in positive territory? When will this occur?

Never ask a lefty to actually back up anything they say.

 

[zymurgy]

One thing the Reichwingers pretend not to know is that the entire world is dealing with inflation, not just the U.S. And just as it always has in the past, this too shall pass.

wave those pom poms like a cheer leader. sure, inflation is bad, but everyone is dealing with it this time.

poster child for a Dementia Joe voter right here

 

[floridafan]

the rest of the world may be dumping the dollar for the BRICS commodity based dollar.

the cabal abused it into oblivion, and are now dumping the the dollar, and americans along with it, after vacuuming up real assets.

Total crap. The dollar is the most desired currency in the world.

 

[Monad Portal]

Total crap. The dollar is the most desired currency in the world.

BRICS are forming a new commodity backed currency. do you know anything about it?

 

[Monad Portal]

Total crap. The dollar is the most desired currency in the world.

 

[floridafan]

BRICS are forming a new commodity backed currency. do you know anything about it?

Some brand new currency is going to rival the dollar? Then I suggest you put your investments in it, sweetheart,

 

[Monad Portal]

Some brand new currency is going to rival the dollar? Then I suggest you put your investments in it, sweetheart,

you're an ignorant clueless buffoon.

 

[floridafan]

you're an ignorant clueless buffoon.

When it comes to currency, my dear, you know shit! In fact that would apply to just about any topic.

 

[Monad Portal]

When it comes to currency, my dear, you know shit! In fact that would apply to just about any topic.

you just exhibited supreme ignorance on this matter. you're dumb.

 

[Hawkeye10]

This recession/depression will almost certainly last for years, this is what I have been warning about for a long time, originally I was not expecting it till 2028-2030 but it is here now.

Buckle Up!

 

[Grokmaster]

First of all, we are not in the worst recession of all time. We might be barely in a recession, or maybe not.

The oversimplified definition of a recession is two GDP declines in a row. There was a minor decline reported in the first quarter, and on July 28th, we may hear there was another minor decline. We will not hear there was a huge decline in either quarter, and almost certainly we will hear of an upward revision in the first quarter. There might not have been a decline at all in the first quarter.

The NBER, and other economists look at more than just the GDP, and right now there are some strange things happening to the GDP. In 2001, there were not two consecutive quarters of negative GDP growth, and yet there was a recession. Other statistics pointed to a recession, so the overall economy was declared in recession. The reverse can easily happen.

GDP is the older statistic, but GDI (Gross Domestic Income) is usually considered slightly better. Product and income should match up perfectly, but call upon slightly different statistics, and therefore always differ slightly. Right now they differ greatly.

GDI shows positive growth in the first quarter. That means that GDP will be revised upwards for the first quarter. It may not end up positive, but it will definitely end up higher. It also means the economy is doing better than the not that bad that the GDP shows.

https://www.economist.com/finance-a...understates-the-strength-of-americas-recovery
https://www.economist.com/united-st...erica-may-officially-avoid-a-downturn-for-now

LYINGASS LEFT ALREADY TRYING TO CHANGE THE DEFINITION OF RECESSION FOR MASSIVE "SPINARAMA" ALREADY STARTING BEFOR THE GDP REPORT IS EVEN RELEASED.


SUDDENLY , A RECESSION ISN'T "REALLY" A RECESSION ANYMORE , AS THE BIGGEST LIARS HERE FOLLOW THEIR MARCHING ORDERS...

 

[T. A. Gardner]

Right wing economic ideas always cause most people pain in the end

All the facts show that

Someday everyone will realize it even while evil entities like fox lie about it

Yea, really? How many Communist / Socialist society's economic ideas worked out great? It's the Left's economic ideas that suck harder than Kirby vacuum cleaner.

 

[cawacko]

Yea, really? How many Communist / Socialist society's economic ideas worked out great? It's the Left's economic ideas that suck harder than Kirby vacuum cleaner.

The old ‘communism would work if they just did it right’ and the misery socialism has also brought across the globe while capitalism, with its faults, has brought more people out of poverty and created more prosperity and wealth than any other economic system. Yet it’s somehow deemed a failure.