Welcome to the Recession, Thank You Democrats
Townhall,
by
Jeff Crouere
Original Article
Posted By: ladydawgfan,
6/20/2022 5:27:44 PM
One of the most popular definitions of recession was coined by economist Julius Shiskin in 1974. In his view, two consecutive economic quarters of negative gross domestic product (GDP) growth meant the country was in a recession.
Sadly, based on this description, America is on the verge of entering a recession. In the first quarter of 2022, our nation’s economy contracted by 1.5%. As we approach the end of the second quarter, the Federal Reserve Bank of Atlanta just estimated that there will be a 0% growth. If we fall just one tenth of a percent, it is officially a recession.
Reply 1 - Posted by:
formerNYer 6/20/2022 5:38:44 PM (No. 1191752)
I wonder how the white house will spin this?
31 people like this.
Reply 2 - Posted by:
Zeek Wolfe 6/20/2022 5:41:13 PM (No. 1191753)
Our country is controlled by people in the White House pulling the strings of a person with dementia. The social and economic decline of America in the last year and a half has been a deliberate attempt by the Democrat party to weaken our resolve to be a great nation. To Democrats sexual deviancy and the promotion of false history together with defunding the police and opening the borders to international vermin is far more important than inflation, high food prices and unaffordable gasoline.
67 people like this.
Reply 3 - Posted by:
Scottyboy 6/20/2022 6:04:26 PM (No. 1191766)
STOLEN ELECTIONS HAVE CONSEQUENCES.
89 people like this.
Reply 4 - Posted by:
Birddog 6/20/2022 6:12:19 PM (No. 1191772)
terminology is confusing here...Negative growth does not mean less than zero growth...it means reduction from previous quarters growth number.
And is often(depending upon News Source) used to confuse even further...Obama/biden and Clinton used "Booming GDP Growth!" talking points when there was 3-4-5% growth over a prior quarter that had 1-1.5% growth or actual Negative(less than zero) numbers, then bashed Trump(and Bush) for low growth numbers that were continuous growth on growth quarters and even entire YEARS. Then in their talking points/news coverage they took an average of their "Growth Months" and touted THAT as their overall numbers, as opposed to actual economic growth year over year.
In short...0% growth after 1.5% reduction in growth over 2 quarters, is "Lack of Growth"...."Recession".
Keep also in mind that when AlGore was running on "The Best Economy in 100YEARS!!" we were in fact in recession...and the numbers were not revised until after the election to show it. "Ooops...Snafu" was their response to a downward revision of 35%. Also not mentioned is THAT recession was the shortest recession in History, growth kicked into gear just as soon as Bush was declared the winner.
22 people like this.
Reply 5 - Posted by:
Ribicon 6/20/2022 6:14:49 PM (No. 1191777)
Thank the Agencies that rigged the election. Thank the Republicans too; they stepped aside and let the steal happen, and each time they're finally back in power, just like the Democrats they spend like there's no tomorrow (and whatever president we have grumbles but signs the budgets anyway).
48 people like this.
Reply 6 - Posted by:
mifla 6/21/2022 3:34:35 AM (No. 1192121)
No worries, the Dems will fix this by redefining the term recession.
39 people like this.
Reply 7 - Posted by:
DCGIRL 6/21/2022 5:38:22 AM (No. 1192146)
I'll tell you how they will spin it. First of all, they will try to make you think everything is fine and how fortunate we are that Biden has the strongest economy going. They treat us in the U.S. like we are stupid. They tell us that the sun is shining bright in the middle of the night.
We can thank all the democrats and RINOs that pushed through those trillion dollar appropriations! By doing this they threw gas on the fire. Each and everyone of them should voted out of office FOREVER. Then came the democrat regulations of preventing the movement of goods throughout the country, chocking gas production in the U.S. and crazy environmental regulations that don't work. We should run Fauci and Birx out of this country forever. The stupid COVID regulations started it all and Fauci was behind it 100% along with the democrats.
This is a start. Vote wisely. Our future depends on it.
38 people like this.
Reply 8 - Posted by:
singermom9 6/21/2022 5:49:31 AM (No. 1192154)
"This country is screwed unless Conservatives win back the House and Senate in November!!"
You REALLY think the repubs will actually DO something? Look at the jan 6 political prisoners. I know they were so terrifying. https://rumble.com/vs2nqk-footage-from-the-insurrection-they-dont-want-you-to-see.html?mref=4pvd7&mc=b2gay&fbclid=IwAR039-xgJPKU1okQg2wBXNeNJtBUU7WOB6puNs0o8Z_eEZcgJwAPfM73LU4
Murderers go free but THESE people are in jail for "trespass" and have been there for 1 1/2 years? Our leaders are not demanding their release? Wait til the dems come for you are realize the repubs do not care and will not come to your aid. And yet they want YOUR vote? Call them and tell them to cat if they want YOUR vote.
I want to know when Colbert and his crew of miscreants is going to jail for the INSURRECTION of June 16th. After all. THEY VIOLENTLY invaded the capital and almost DESTROYED our democracy. Can you imagine the FEAR and TERROR of the people inside who were subjected to the horror of the day? And Colbert PLANNED this. A PRE-PLANNED INSURRECTION. They were out within hours. REAL "JUSTICE FOR ALL" and "SPEEDY TRIAL" right?
Repubs and conservatives get jail but protest to kill your baby and the LAWS are ignored. When will we say-ENOUGH?
40 people like this.
Reply 9 - Posted by:
singermom9 6/21/2022 5:59:46 AM (No. 1192161)
Sorry for the repost-boy did I botch that-I was passionate
"This country is screwed unless Conservatives win back the House and Senate in November!!"
You REALLY think the repubs will actually DO something? Look at the jan 6 political prisoners. I know they were so terrifying. https://rumble.com/vs2nqk-footage-from-the-insurrection-they-dont-want-you-to-see.html?mref=4pvd7&mc=b2gay&fbclid=IwAR039-xgJPKU1okQg2wBXNeNJtBUU7WOB6puNs0o8Z_eEZcgJwAPfM73LU4
Murderers go free but THESE people are in jail for "trespass" and have been there for 1 1/2 years? Our leaders are not demanding their release? Wait til the dems come for you and you realize the repubs do not care and will not come to your aid. And yet they want YOUR vote? Call them and tell them to DO SOMETHING if they want YOUR vote.
I want to know when Colbert and his crew of miscreants is going to jail for the INSURRECTION of June 16th. After all. THEY VIOLENTLY invaded the capital and almost DESTROYED our democracy. Can you imagine the FEAR and TERROR of the people inside who were subjected to the horror of the day? And Colbert PLANNED this. A PRE-PLANNED INSURRECTION. They were out within hours. REAL "JUSTICE FOR ALL" and "SPEEDY TRIAL" right?
Repubs and conservatives get jail but protest to kill your baby at the houses of the SCOTUS and the LAWS are ignored. When will we say-ENOUGH?
19 people like this.
Reply 10 - Posted by:
homefry 6/21/2022 7:18:01 AM (No. 1192199)
Well, on the bright side......The DOW had a fairly good day yesterday, only lost about 150 or so points? That aint bad for a bidenomics day!
12 people like this.
Reply 11 - Posted by:
Rumblehog 6/21/2022 7:25:14 AM (No. 1192215)
This was a "Recession of Choice" brought about by the Leftist Agenda of radicals in the Bidet Administration. Completely avoidable and unnecessary however, Klaus Schwab of the W.E.F. must be thrilled.
16 people like this.
Reply 12 - Posted by:
A.I. 6/21/2022 7:49:46 AM (No. 1192239)
The Democrat politicians could not do it on their own. They had help from the 80 million “voters.”
11 people like this.
Reply 13 - Posted by:
JackBurton 6/21/2022 7:51:39 AM (No. 1192244)
Don't worry about the definition of 0% growth.
It ain't gonna be 0. It will be negative.
7 people like this.
Reply 14 - Posted by:
bubby 6/21/2022 8:21:39 AM (No. 1192270)
ChiCom Joe and his minions will cook the books so there isn’t a second quarter of negative growth and put off the recession until next year! I trust nothing from the Feds about the economy!
7 people like this.
Reply 15 - Posted by:
Clinger 6/21/2022 8:33:29 AM (No. 1192278)
All of the hubbub regarding the official qualification for a recession is ridiculous. As if avoiding the criteria would constitute an economic success and barely meeting the official definition would suddenly impose a something we would feel.
A recession is two consecutive quarters of declining GDP. If you had a record setting roaring economy let's call that 100% and it went to 99% and 98% in two consecutive quarters you have a recession yet at 98% of that great economy is still very healthy. Then hypothetically if you took that same 100% economy and imposed draconian lockdown measures and crashed it to 75% all in one quarter and then in the next quarter grew it to 76% of the starting point, you don't have a recession. Where would you rather be, in a recession at 98% of a roaring economy or at 76% of that same baseline shaking your pom poms cheering on your economic growth?
In reality we're talking about a potential official recession decline from a crash baseline that had just experienced some recovery. We're 20 laps down in the race but just gained 0.2 sec on our last lap and now were discussing if our current lap will be slower or not as though if it is not, we're still going to win the race.
3 people like this.
Reply 16 - Posted by:
BeatleJeff 6/21/2022 8:56:12 AM (No. 1192301)
Look for them to cook the books so that they can avoid that second consecutive negative quarter, but we all know the truth.
10 people like this.
Reply 17 - Posted by:
Zigrid 6/21/2022 10:34:27 AM (No. 1192443)
Well folks...I'm sure the economists have their own definition of a recession...let me tell you what WE the people know...it's double the amount to fill my gas tank and I got five bags of groceries for twice the amount of cash it would have cost when President Trump was in charge... the American oligarchs have gotten their wish...their pockets are full and ours are empty...
8 people like this.
BOHICA.
1 person likes this.
Reply 19 - Posted by:
Speedypetey 6/21/2022 9:46:01 PM (No. 1192987)
Redefining inflation was the same as in 2012 we had a VP of the Federal Reserve as a speaker at a technical seminar. The nation was "recovering" very slowly from high unemployment and the presentation was complimentary of Obama. However he was dealing with masters and Phd's in engineering that were doing math on paper. They caught the Federal Reserve guy of using U6 unemployment when Obama took office then switched to the lower U3. And his macroeconomic growth statistics were overstated. He shouldn't have fabricated this in front of smart men and women. They will do this again as the majority are clueless.
1 person likes this.
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This country is screwed unless Conservatives win back the House and Senate in November!!