Economy White House changes the definition of Recession

USA is being controlled demo'd because secret geoengineering has ruined the planet and the ecology is about to collapse. Don't say I didn't warn you.
 
TeTe said:
Well not everyone obviously. Politics aside, we were long overdue for this. I'm just looking forward to the price of shit going down. I had to put my in ground pool plans on hold because of rates and cost of materials and labor going up so quickly.
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Well, analysts. Don't know what you think we're overdue for. We had crazy, unsustainably strong growth last year, so some retrenchment is to be expected. Inflation is kind of the opposite problem. Which I think illustrates the problem with the attempt to politicize everything. Like, OK, so you're mad about the other party being in the WH and you want to pretend there's a recession. Does that mean that policymakers should be reacting as if we're in a recession? Because that would entail trying to stimulate demand, which is the opposite of what we actually want to be doing (and the opposite of what is actually being done--note that monetary policy is in a tightening phase, and lawmakers just moved forward with some fiscal austerity). What happens in the future if we get a less-scrupulous, less-competent administration? I think people underestimate the real-world dangers of the increasing separation from reality that we're seeing on the right.
 
Jack V Savage said:
What happens in the future if we get a less-scrupulous, less-competent administration? I think people underestimate the real-world dangers of the increasing separation from reality that we're seeing on the right.
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The problem is people are putting all their energy into a phantom political system that isn't real. Do you mean Presidential Administration? That has zero impact. The rulers of America are in the Military Intelligence Community. As long as Americans don't know this, they'll continue to waste energy in "politics" and be so confused, bless their hearts.
 
White Whale said:
The media is showing why it has record low trust and views. If Donald Trump was president they would call it a recession or stagflation.
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They'd be calling it the first step of an inevitable great depression, while showing footage of starved people during the holocaust, and pondering if that is what the near future will look like, if Trump is allowed to keep running the country.
 
HereticBD said:
They'd be calling it the first step of an inevitable great depression, while showing footage of starved people during the holocaust, and pondering if that is what the near future will look like, if Trump is allowed to keep running the country.
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This is 100% truth. The odd part is everyone on this site knows it but won't call it like it is.
 
Jack V Savage said:
Well, analysts. Don't know what you think we're overdue for. We had crazy, unsustainably strong growth last year, so some retrenchment is to be expected. Inflation is kind of the opposite problem. Which I think illustrates the problem with the attempt to politicize everything. Like, OK, so you're mad about the other party being in the WH and you want to pretend there's a recession. Does that mean that policymakers should be reacting as if we're in a recession? Because that would entail trying to stimulate demand, which is the opposite of what we actually want to be doing (and the opposite of what is actually being done--note that monetary policy is in a tightening phase, and lawmakers just moved forward with some fiscal austerity). What happens in the future if we get a less-scrupulous, less-competent administration? I think people underestimate the real-world dangers of the increasing separation from reality that we're seeing on the right.
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This is the craziest shit ive ever read. Well done.
 
AZ103 said:
This is the craziest shit ive ever read. Well done.
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It’s only a recession or inflation when he’s not wrong about it happening. You can always count on a douche to bring vinegar and water to the equation, just takes a while to get the mix right after it’s been shaken up.

remember when trump was in and all the growth was Obama because it’s takes years for a president’s policies to have effect? As soon as trump was out it was all trumps fault even though 1/4 of the time they just said it took for an effect to manifest. As soon as there was some growth it was bidens in spite of the above and now the settling which, if we ignore everything else I just said, is either not real or russias fault. Just take everything jack says as democrat good and work backward. It gets convoluted fast
 
Words are exactly that. Words. I'm sure that people on either side will emphasize certain words and diminish others in order to make things seem however good or bad they want them to, pursuant to their respective goals.

This essentially means to me that words don't mean a whole lot. What does mean a lot to me is that all my expenses have increased, and that my salary has increased by a much smaller percentage than any one of those numerous expenses. I can't be the only person to whom this applies
 
The White House and Democrats are raising taxes. they announced that yesterday. Today or course we had the report that another quarter has resulted in negative growth. Since the Democrats do not want to be seen as raising taxes during a recession, they are changing the definition of recession.

Democrats’ $700B ‘Build Back Better’ Plan To Raise Taxes During A Recession Is A Political Death Wish

https://thefederalist.com/2022/07/2...e-for-recession-2010-obama-would-like-a-word/

As President Barack Obama once said, ‘You don’t raise taxes in a recession.’
 
Beechwood said:
The White House and Democrats are raising taxes. they announced that yesterday. Today or course we had the report that another quarter has resulted in negative growth. Since the Democrats do not want to be seen as raising taxes during a recession, they are changing the definition of recession.

Democrats’ $700B ‘Build Back Better’ Plan To Raise Taxes During A Recession Is A Political Death Wish

https://thefederalist.com/2022/07/2...e-for-recession-2010-obama-would-like-a-word/

As President Barack Obama once said, ‘You don’t raise taxes in a recession.’
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Yes but biden got more votes than Obama so uts ok.
 
TankAbbott4Eva said:
I was under the impression that it was a negative GDP growth in two quarters, like the OP. I'm sure that was taught in my MBA too.
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Yup. Got my MBA from the U of M, work in financial services, and that's been the textbook definition used everywhere recessions have been discussed. They usually don't merit having a conniption fit unless the rate appears to trending in the wrong direction on the second consecutive quarter. The rate of growth this quarter is mildly increasing (q1 was -1.6% while q2 was -0.9%), even though the growth remains negative, meaning it technically is a recession but the economy is also technically trending upward.

Tl;Dr; We're in a recession, just barely, in an economy that is improving (just barely).
 
Aluminati said:
Yup. Got my MBA from the U of M, work in financial services, and that's been the textbook definition used everywhere recessions have been discussed.
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That's just plainly false. Most analysts defer to the NBER (Business Cycle Dating Committee, more specifically) on the issue, and their definition has never been that, and it hasn't changed. A more academic definition would be a period where we're below trend (like with a Hodrick-Prescott Filter).
 
Aluminati said:
Yup. Got my MBA from the U of M, work in financial services, and that's been the textbook definition used everywhere recessions have been discussed. They usually don't merit having a conniption fit unless the rate appears to trending in the wrong direction on the second consecutive quarter. The rate of growth this quarter is mildly increasing (q1 was -1.6% while q2 was -0.9%), even though the growth remains negative, meaning it technically is a recession but the economy is also technically trending upward.

Tl;Dr; We're in a recession, just barely, in an economy that is improving (just barely).
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Yeah fair enough. Well a recession is just one economic metric anyway, it's a scary word but it's just a measure, like heaps of others we use. Probably the rate of the rate of change is an instructive figure too like you point out.
 
Until climate extremists are voted out of policy positions, supply of fossil fuels will remain tight, and inflation will remain. Change all the definitions you want.
 
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