Economy White House changes the definition of Recession

[SBJJ]

The odds of an actual recession over the next year are a bit higher than usual now (probably somewhat less than 50/50), largely because we're in a tightening cycle, but no serious person would claim that we're currently in one.

What is an actual recession. Lol

 

[MoparOrNoCar]

Lmao you guys are in the exact same discussion I had with Jack over a year ago about inflation.

Don't get pulled into the trolling.

 

[Snowblindlove]

Why do you refuse to answer the basic question about where you’re from?

He never answers questions he just rambles and is largelly incoherrent

 

[SBJJ]

Lmao you guys are in the exact same discussion I had with Jack over a year ago about inflation.

Don't get pulled into the trolling.

It is eerily similar

 

[Super_Nintendo]

Fact checkers say you're about to lose your livelihood. Here's why that's a good thing!

 

[SakurabasEar]

Learn MMT.

Context?

Monetary theory?

 

[ferrisjso]

Context?

Monetary theory?

Basically the idea is that people complaining about the debt like Ron Paul are con artists. Currency issuers have no limit on spending except their real world resources. It's why a lot of the left is giving up on taxation now.

 

[Rob Battisti]

Basically the idea is that people complaining about the debt like Ron Paul are con artists. Currency issuers have no limit on spending except their real world resources. It's why a lot of the left is giving up on taxation now.

MMT is an unsustainable sham. It’s why weren’t in this mess to begin with.

 

[SakurabasEar]

Basically the idea is that people complaining about the debt like Ron Paul are con artists. Currency issuers have no limit on spending except their real world resources. It's why a lot of the left is giving up on taxation now.

The federal reserve printing money in which the economy doesn't keep pace with is what causes inflation

 

[deadon]

Well if they tried to alter what people are thinking it's not working. Everyone is talking about this on every site. No one is fooled by any of this. It's almost like they stepped in their own mess. They should have just kept quiet.

 

[ferrisjso]

The federal reserve printing money in which the economy doesn't keep pace with is what causes inflation

Yeah no it doesn't. Real world resources is the only limit. Printing money to take care of peoples needs as those needs increase is unlimited. Inflation is natural and no one cared when leftists were screaming about it being used as a tool to supress wages for the last 40 years. The right only talks about it now when they see it as a tool to undermine a potential social safety net.

 

[Rob Battisti]

Yeah no it doesn't. Real world resources is the only limit. Printing money to take care of peoples needs as those needs increase is unlimited. Inflation is natural and no one cared when leftists were screaming about it being used as a tool to supress wages for the last 40 years. The right only talks about it now when they see it as a tool to undermine a potential social safety net.

 

[scoopj]

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.

Correct. Not sure why he made that false statement that basically contradicts the premise of his own thread.

 

[SakurabasEar]

Yeah no it doesn't. Real world resources is the only limit. Printing money to take care of peoples needs as those needs increase is unlimited. Inflation is natural and no one cared when leftists were screaming about it being used as a tool to supress wages for the last 40 years. The right only talks about it now when they

"Yeah, no it doesn't"

"Inflation is natural"

What are you going on about here. I guess I can surmise that your saying Inflation doesn't matter which we've heard 1000× though we get constant reminders that this isn't the case when it spikes to this extent. The FED doesn't control wages ether

 

[ferrisjso]

"Yeah, no it doesn't"

"Inflation is natural"

What are you going on about here. I guess I can surmise that your saying Inflation doesn't matter which we've heard 1000× though we get constant reminders that that isn't the case when it spikes to this extent. The FED doesn't control wages ether

Learn MMT, rec Stephanie Kelton.

 

[Rob Battisti]

Learn MMT, rec Stephanie Kelton.

Like I said, MMT is a sham and the reason we’re in this mess. This is the equivalent of “look into it” when taking to a flat earther.

 

[AZ103]

Well they changed the definition of racist, and of woman, and of healthcare, and of workers rights, and of freedom, and of unemployment, and of many other things.

I've said it before and I'll say it again, we've been far too worried about the footprints of Orwell and not nearly worried enough about the footprints of Huxley.

How so? The changing of rules and laws is the entire theme of animal farm.

 

[Jack V Savage]

Again, why are they putting it on the WH website a few days before Q2 numbers come out?

Because of misconceptions. I already answered that question.

Oh Jack. Must suck to be such a hack.

I wouldn't know. I've been pointing out that the OP and many others ITT lied, falsely claiming that the WH changed the definition of a recession. Lying is OK with you hacks, though, right? Not a single person has had the integrity to just admit the truth, even after it was pointed out. Christian ethics in action, I guess.

 

[Blayt7hh]

I get confused as I think of historical discussions had when you were trying to convince everyone Presidents and policies had nothing to do with GDP

Well, that is actually mostly true. What do you think the president can actually do in the short run to turn the economy around? Part of being capitalist is that the government doesn't have a lot of say in what happens in the economy. When I have asked directly what Biden has or has not done to make the economy so bad, people don't usually have an answer. That's because there is very little tied to a president that can change the economy in the short term. I think I have heard literally one legitimate complaint about the administration, and that the administration has continued to print money and has contributed to our inflation problems. While that certainly raises eyebrows, I think we all know that that is not the sole cause of the record-high inflation we are seeing. There are multiple factors causing inflation and some of the have impacted the entire world, not just the US.

I think it's telling that within weeks of Biden taking office on this subforum I already saw a bunch of posters laying all the problems we were facing laid at his feet. I also see a lot of his proposed policies blamed for the state of the economy when they were never passed. It's because people have an almost childish view of his role in the economy. The fixes he can make are almost all long-term solutions, such as solving a major break in our supply chain by building microchip manufacturers in the US. That's going to take years to do and probably even longer to reap the benefits of.

 

[Lead]

This is one of those times it’s fun to go on Wikipedia and read the edits log

https://en.m.wikipedia.org/wiki/Special:History/Recession

You can see two dorks are adding and removing the two quarters lines today.