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2nd quarter keeps getting revised downward. Looks like we are heading towards negative growth for the first half of the year and a Biden Recession will be confirmed. Just wait until the higher interest rates combined with accelerating inflation kick in.
The Atlanta Federal Reserve’s GDPNow tracker is now pointing to an annualized gain of just 0.9% for the second quarter, down from an estimated 1.3% increase less than a week ago.
With first-quarter growth down 1.5%, a second consecutive quarter of negative growth meets a rule-of-thumb definition for recession.
The National Bureau of Economic Research, the official arbiter, says a recession can include two straight negative GDP prints, but that’s not necessarily the case.
We will find out in a few weeks. It does appear that we are very likely to go into a Biden recession. After its formally announced that we are in a Biden Recession, I literally have zero faith that they will get us out of it, which will lead to a depression. I've already put my money where my mouth is and shorted the entire market.
We will find out in a few weeks. It does appear that we are very likely to go into a Biden recession. After its formally announced that we are in a Biden Recession, I literally have zero faith that they will get us out of it, which will lead to a depression. I've already put my money where my mouth is and shorted the entire market.
We are entering stagflation. Which is a bigger problem than just a recession because of high inflation. They are going to have to keep raising rates and try to stop inflation. But raising interest rates in a recession could trigger a depression. Normally you would lower rates in a recession.
0.9% annualized? So ... 0.225% for the quarter? That's not a lot of wiggle room the next 3 weeks.
Unless its 1.5% or higher in the 2nd quarter its a recession. 2nd quarter could also be negative which would be more confirmation of a recession.
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