It's Official. Biden's Recession is here. (financial, inventor, world, document)
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2 consecutive quarters of negative GDP. The entire year of 2022 is in contraction. It only took Biden 11 months to destroy the rocketing post pandemic rebound economy. That's pretty hard to do.
It's terribly curious I'm still not getting any responses to this observation:
Quote:
Originally Posted by James Bond 007
It has always been just an informal definition.
Once again ... in Q1 and Q2 1947 we had 2 consecutive quarters of GDP contraction, but did not enter a recession. What is your explanation for that?
Better take those Rah Rah Biden Glasses off. They are clouding your vision.
Look doctor, I know all the symptoms are there and I know the x-rays definitively show massive malignant tumors in my lungs and I know that I can barely breath and I know five other doctors have told me the same thing... but I don't officially have lung cancer.
It's more like "but until that 1 test comes back a month from now, we won't call it lung cancer. And hey, let's wait until then to begin treating it while we're at it."
And all of those jobs that Biden "created", were just jobs that were lost during the China Flu pandemic, that began to be filled as states that were shut down for far too long, began to reopen.
It's technically a recession, but an odd one. Some of the economic disruption caused by the pandemic is still working its way through the system. It may be a few years before things return to equilibrium.
It's terribly curious I'm still not getting any responses to this observation:
Like other lunatic democrats, redefining a turd does not remove the smell.
No one is as gullible and dense as a liberal. Save your breath; everyone knows we are in a recession and Biden put us there. There is no spin that can change that.
Are you trying to redefine what a recession is too ?
Unsurprisingly this is the only kind of response I get.
Let's try this again ... In Q1 and Q2 1947 we had 2 consecutive quarters of GDP contraction, but did not enter a recession. What is your explanation for that?
If 2 consecutive quarters of GDP contraction was the official definition of a recession, then we would have entered an official recession in early 1947.
That we had 2 consecutive quarters of GDP contraction in early 1947 but did not enter a recession, tells you that 2 consecutive quarters of GDP contraction is not the official definition of a recession. It is just an informal one.
I wonder how many more times I'm going to have to explain that?
The official arbiter of recession start and end dates - the NBER - does not even use GDP as one of their criteria.
And the unemployment rate has fallen from 4.0% to 3.6%.
Yeah, some "recession."
I'm sure the Dem Cabinet members, Econ Advisers, and pundits have already been instructed to cease and desist on calling them "recovered" again and go back to "new jobs".
Is it above the historical trend leading to Dec 2020?
Like other lunatic democrats, redefining a turd does not remove the smell. ...
I see that you, too, cannot actually respond to my comment.
Answer the question directly: In Q1 and Q2 1947 we had 2 consecutive quarters of GDP contraction. But we did not enter an official recession. What is your explanation for that?
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