When a Recession is Not a Recession
“I did that.”
An economic recession is a period of reduced economic activity, as one would imagine. It has been defined since forever as when the economic activities of a nation undergo what is euphemistically called “negative growth” for two or more quarters in a row. Here in the United States, the National Bureau of Economic Research (NBER) is responsible for identifying the severity and start and end dates of recessions, when and if.
PINO Joe’s Handlers are getting ahead of looming GDP estimates of a 2.1% decline in the second quarter, which with the first quarter decline meets the textbook definition of an economic recession. A rational administration would admit the compounding economic errors made and take steps to recover from the downturn.
PINO Joe’s Handlers instead redefine a recession.
White House says a second consecutive quarter of negative GDP ‘unlikely’ to be indicative of recession
A Republican National Committee spokesperson said that this further underscores how ‘out of touch’ President Biden is with Americans
By Adam Sabes FOXBusiness
The White House Council of Economic Advisers said on July 21 that even if Friday’s advance estimate of the country’s GDP is negative, it’s still “unlikely” to be indicative that the country is in a recession.
Recessions refer to two consecutive quarters of negative economic growth.
In a blog post, the council of economic advisers says that two consecutive quarters of falling GDP doesn’t mean the country is in a recession.
“What is a recession? While some maintain that two consecutive quarters of falling real GDP constitute a recession, that is neither the official definition nor the way economists evaluate the state of the business cycle,” the blog post states.
Citing figures from the National Bureau of Economic Research, the post states that their “recession indicator variables” have “exhibited strong growth in the U.S. economy since the start of the pandemic, and have continued to expand through the first half of this year.”
Even if the Bureau of Economic Analysis’ advance estimate of the second quarter GDP shows a negative number, the blog post says the country is likely not in a recession.
“Based on these data, it is unlikely that the decline in GDP in the first quarter of this year — even if followed by another GDP decline in the second quarter — indicates a recession,” the post states.
So who ya gonna believe, me or yer own lyin’ eyes? This Administration has achieved caricature status, low comedy. SecTreas Yellen said the economy is not in a recession but is in a “period of transition” where “growth is slowing.”
We’ve not been fooled, and are no longer amused.
Category: "Teh Stoopid", Economy, Global Warming
I’ll pass on this one since I’m math handicapable (I suck at math)
https://youtu.be/taKaFUNJ6Ec
I detest math but the above video about the Mandelbrot Set is amazing and another perspective. God did invent math.
If you can’t meet the acceptable standards for something, just change the standards to match your performance.
Today I learned that Hack Stone is a public school teacher.
Standards are racist, whether it pertains to grammar, science, math or history.
Hack Stone has always been confused when the awoke Left says that algebra and trigonometry are inherently racist, and African American students are unable to learn the skills ( Hack was going to write “master”, but that would be racist), yet hold up the film Hidden Figures as an example of how intelligent African Americans are and how they contribute to technological advances. You would think that is an either/or option.
Standards are created by DA MAN to keep everyone DOWN!
They’re “racist,” comrade!
Today I learned that Hack Stone is a union public school teacher.
FIFY
I would thank you for that correction, SFC D, but I’ll be too busy calling you a racist while sipping a latte at Starbucks bought with some of the
bribemoney I got from George Soros.Better check and see if your favorite Starbucks is still open!
Sounds like all part of plan to bring about the Digital dollar around Feb. 2023, the more financial chaos for the fiat dollar, a digital dollar is easier for some to swallow.
A Digital Dollar, a Digital Passport and a Digital Vaccine, what a world!
All delivered as a suppository…
> what is euphemistically called “negative growth”
I can work with this.
Five-Sided CircusPentagon is planning “negative combat readiness”HairgelNewsom has steadily promoted “negative liberty”P.S. Janet Yellen can go to Hellen.
P.P.S. Let’s go Brandon
Like everything else, it isn’t a recession when Democrats do it.
Well, they did say they would “build back better” during the campaign. In order to build something back better, it must first be destroyed.
AW1Ed wrote: “We’ve not been fooled..”
Reminded us of the song “We Won’t Get Fooled Again” by the Who..
Check this out. The US Army Band “Pershing’s Own: performs the same song…. 😎
That’s pretty good.
Tough audience if the band needed ballistic shields.
This is the same people that want to redefine Biology and what a woman is.
Why not change Economics and Math while we’re at it?
“In the end the Party would announce that two and two made five, and you would have to believe it. It was inevitable that they should make that claim sooner or later: the logic of their position demanded it … And what was terrifying was not that they would kill you for thinking otherwise, but that they might be right. For, after all, how do we know that two and two make four? Or that the force of gravity works? Or that the past is unchangeable? If both the past and the external world exist only in the mind, and if the mind itself is controllable…what then?” – 1984, George Orwell
😉
This seems appropriate:
Meet the new boss. Same as the old boss.
Man! That is the one group I wish I had seen in concert. Awesome!
My last Captain made us watch that concert while waiting for him to finish crew signoff paperwork.
What a cool dude.
THE BEST Rock and Roll Band…EVAH! Last saw them at Veterans Memorial Stadium in Jacksonville during their Who Turns 50 Tour (Spring 2015). They were just as good as they were during the numerous times I had seen them live during the past 50 years. Ewe toob and some good headphones are your friend.
Rush is much better.
Yeah, but he’s dead… 😜
A penny saved is a penny earned.
Until now.
At the rate Bidenflation is going, a dollar saved will be a penny earned.
P.S. Let’s go Brandon.
Changing definitions…changing definitions. Seems I’ve heard this before….
Getting more and more blatant with their lies, aren’t they.
SILANCE! Filthy peasants!
Recession is not recession under the prog’s Humpty Dumpty rule of redefining words. Because “when [they] say a word, it means what [they] say it means, nothing more and nothing less.”
Wasn’t that from Alice In Wonderland. A fitting book for this regime.
Yes, it is. It is a comment made to Alice. For years I thought it was made by the hookah smoking caterpillar or the Cheshire cat but in actuality it was said by Humpty Dumpty sitting on his wall. Here is the full quote:
“When I use a word,’ Humpty Dumpty said in rather a scornful tone, ‘it means just what I choose it to mean — neither more nor less.’ ’The question is,’ said Alice, ‘whether you can make words mean so many different things.’ ’The question is,’ said Humpty Dumpty, ‘which is to be master — that’s all.“
Orwell wept. “Not A bloody blueprint, you fools…”
“The Party today announced an increase in the value of money….”
It’s not a recession when Democrats do it, if course.
Biggest Lies Ever Told:
-I’ll still respect you in the morning
-Your gov’mint respects you
-WMDs in Iraq
-Anna Nicole married for love
-EPS of markets is totally realistic!
Yeah… Walmart down 9% after hours.
Get ready for the ‘fun part’!!!
https://www.zerohedge.com/markets/walmart-plunges-drags-down-market-after-slashing-profit-outlook-blames-fuel-costs
This week a host of names report.
Re do that logo to use a yellow Empire symbol from Star Wars.
Darth Biden finds your lack of faith disturbing.
Woah, it’s almost like the entire US economy is petroleum dependent the supply of which is non-elastic. That slashing production of petroleum and flooding the market with dollars created inflation and shrank the economy.
But that would be crazy talk.
That last President who was a very bad man, the worst really so far as presidents go, whose golfing handicap was very bad and never played at any of the fine golf courses on Martha’s Vineyard did the opposite and the results were terrible, just terrible. People were simply driving everywhere cheaply and buying stuff freely.
Inelastic.
Dig what you’re throw’n down but third paragraph, first word, ‘that’ is superfluidousnessedly. DJT was THE last President.
Here’s where we’re headed:
Digital ID QR Code Now Required To Access Gas Pumps In Sri Lanka (thegatewaypundit.com)
If anyone is interested, I have a recipe for ersatz bread, just like my grandma use to make! I can also help you with finding other ersatz products at your local socialist co-op!
So, you joined the
ErsatzGruppen…
You Fastist.
Nice wordplay there, Mail…
I’ve noticed, for good reason, many references to 1984. I highly recommend reading Orwell’s essay, Politics and the English Language. Search for it on Ask Jeeves and give it a spin. Don’t bother buying it.
Another short reading I highly recommend is The Two Cultures by C.P. Snow.
While the Orwell pamphlet is enlightening, (and I’m convinced George Carlin was intimately familiar with it), the Snow volume illustrates exactly what’s occurring today. That it was written in 1959 is as remarkable as Orwell’s vision for 1984.
According to the liberal mess media, nothing ever goes wrong when D-rat pols are at the helm, they obey their masters and only speak as told!
Comrade!