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The economy contracted by 2.5% since the beginning of the year we’re most certainly in a recession.
In the first 2 quarters of 1947 the economy contracted a similar 2.0% and we did not enter a recession.
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The fact that businesses can not find workers is a big reason we are in recession. It makes the recovery that much harder, who is going to do all the work for us to grow again? We still have yet to recover all the jobs we had precovid. We need Biden to motivate people who left the labor force to rejoin and we need the people who are working to work hard, to produce more. But Biden is too old and weak to do it.
A labor shortage is an indication of not being in a recession. In a recession, lots people lose their jobs, thus creating a labor surplus.
There are still 3 million fewer workers in the labor force then pre pandemic. What you are seeing is job growth from post pandemic losses not from strong growth in the economy. Wait until the interest rates hikes kick in full geat in Q3 and Q4. Stagflation around the corner. Listen to economists from the World Bank not some political hacks
Lots of countries are going to enter a recession in the next 1-2 years. Can’t blame the global factors at play all on Biden. I’m hoping personally a global recession might bring the insane house prices here in Canada back to the realm of reality.
In the first 2 quarters of 1947 the economy contracted a similar 2.0% and we did not enter a recession.
A labor shortage is an indication of not being in a recession. In a recession, lots people lose their jobs, thus creating a labor surplus.
WRONG! 3,000,000 American dropped out of the labor force, which is why those jobs became available. The labor force participation rate has fallen, & those 3M workers were paying taxes, and now they are not!
Lots of countries are going to enter a recession in the next 1-2 years. Can’t blame the global factors at play all on Biden. I’m hoping personally a global recession might bring the insane house prices here in Canada back to the realm of reality.
2 trillion in spending pushed inflation to these awful levels which in turn is forcing the fed to put the breaks on the economy by raising interest rates. I mean you print money to give to people to spend who are told to stay home and not work so no goods are being made. What do you think will happen to the price of goods. Lol of course there are global factors which exacerbate this like the embargo on Russian energy
Now these clowns want to spend another trillion and raise taxes on corporations lol they have it all figured out
Now these clowns want to spend another trillion and raise taxes on corporations lol they have it all figured out
And we all know corporations don't pay taxes. They pass that added expense off to consumers. A corporate tax increase is a tax on the middle class. And to think that they've named this the inflation relief bill or something like that. LOL. Higher corporate tax rates = higher consumer prices.
Location: In a perfect world winter does not exist
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Originally Posted by pdw
Lots of countries are going to enter a recession in the next 1-2 years. Can’t blame the global factors at play all on Biden. I’m hoping personally a global recession might bring the insane house prices here in Canada back to the realm of reality.
Won't ever happen in Vancouver BC. Do you know how many millions and millions of rich Chinese want to move there?
Actually, it's not official at all. We aren't in a recession yet, but than I guess that would make for a less sexy thread title. Just some more CD drama.
WRONG! 3,000,000 American dropped out of the labor force, which is why those jobs became available. The labor force participation rate has fallen, & those 3M workers were paying taxes, and now they are not!
If that's how you're going to define it, then we've been in a perpetual recession since 2000, since that's the year the LFPR peaked.
Alternatively, if you're going to define it as the total number of people in the labor force, then in March and May we already practically reached the pre-Covid level: https://fred.stlouisfed.org/series/CLF16OV
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