Bidencession: U.S. GDP Shrinks 0.9 Percent
in Second Quarter
Breitbart,
by
John Carney
Original Article
Posted By: Black Conservative Voice,
7/28/2022 9:07:33 AM
The U.S. economy contracted in the second quarter of 2022 as the economy was battered by four-decade high inflation, record high fuel prices, soaring food costs, and tighter monetary policy.
The government reported Thursday that Gross Domestic Product shrank by 0.9 percent in the April through June period. Economists had expected the economy to grow by 0.3 percent, according to the Wall Street Journal.
The economy contracted by 1.6 percent in the second quarter. Many Americans consider two straight quarters of recession to be the marker of a recession. Economists, however, rely on the determination of the National Bureau of Economic Research to say when a recession starts.
Reply 1 - Posted by:
SilkCity 7/28/2022 9:24:06 AM (No. 1230921)
On track...
4 people like this.
Reply 2 - Posted by:
Pearson365 7/28/2022 9:24:10 AM (No. 1230922)
The economy has Bidenpox, the disease caused by an incompetent, corrupt and cognitively damaged president. Also known as the Big Guy disease, not to imply big ideas but how a life long politician made himself and his family incredibly wealthy by influence peddling. Or, Hunter is the smartest bag man I know.
What’s troubling is that Bidenpox can only be cured by free and fair elections, but those remedies were done away with in 2020.
12 people like this.
Reply 3 - Posted by:
Mizz Fixxit 7/28/2022 9:24:48 AM (No. 1230925)
Economic growth in the second quarter was less than expected.
4 people like this.
Reply 4 - Posted by:
Blue Hen1 7/28/2022 9:25:24 AM (No. 1230927)
It’s not a recession! It’s a transition to an empty wallet
3 people like this.
Reply 5 - Posted by:
jalo1951 7/28/2022 9:33:03 AM (No. 1230933)
" Many Americans consider two straight quarters of recession to be the marker of a recession". As do economists. Shape shifting the meaning of words to fit their narrative. Redefine the true meaning of recession to cya of the FJB Clown Car Administration. We know it is a recession, we see it, we feel it. This administration is out of control with spending. They can't stop, they have no intention to stop, and every dollar they print adds to our inflation numbers. If these people can not redefine what a woman is how can we trust them to do anything.
4 people like this.
Reply 6 - Posted by:
sw penn 7/28/2022 9:36:02 AM (No. 1230938)
-.9% was the very best number they could produce...
Personal results may vary...
9 people like this.
Reply 7 - Posted by:
Ida Lou Pino 7/28/2022 9:44:51 AM (No. 1230948)
The minus sign is a white male racist dog whistle. It's a threat to our democracy - - and it should be banned!
3 people like this.
Reply 8 - Posted by:
WhamDBambam 7/28/2022 9:46:03 AM (No. 1230949)
Soooo, Breitbart's already bought into the MFM narrative about what "really" defines a recession. Keep changing the definitions, leftists.
3 people like this.
Reply 9 - Posted by:
Anti-DemocRAT 7/28/2022 9:54:50 AM (No. 1230961)
Wonder how bad the real number is then.
9 people like this.
Reply 10 - Posted by:
john56 7/28/2022 10:05:44 AM (No. 1230975)
Wait a minute. There's new rules. It ain't a recession unless Biden calls it a recession.
Anyway, we can round that -0.9% up a point. So now it's +0.1%. See, we're in a BOOMING economy!
Everybody's got a job selling electric cars and un-installing natural gas furnances. It ain't Biden's fault if you can't keep money in your pockets. What are you doing buying stuff like $3.99 gas (Biden bragged about that the other day. Less than six months ago in Texas, I paid less than $3 gallon) and that expensive meat (you know, ground beef with fillers, the 73-27 kind that used to be a couple bucks a pound but now is close to $5 a pound, but only if you buy it in the "club pack" that is 32 lbs. or something like that.).
5 people like this.
Reply 11 - Posted by:
MDConservative 7/28/2022 10:26:38 AM (No. 1231001)
Recession means the mavens will try to pump more money into the economy as "stimulus" and "tax breaks". Maybe Congress will toss in a TRILLION for "infrastructure" and "sustainable energy" - all to beat back recession, especially in an election year. Tossing money into the economy and the hands of consumers fuels inflation. But, let's give it another shot. It may turn out differently this time.
3 people like this.
Reply 12 - Posted by:
PrayerWarrior 7/28/2022 10:56:03 AM (No. 1231036)
Should we mention 1984 again? War is peace. Freedom is slavery. Ignorance is strength.
Inflation is good. Recession is not recession.
Biden/Soros/Obama and their REGIME are the Destroying Angels the bible speaks of. They can only produce chaos, theft, and murder. Our democrat controlled cities show that fruit.... killing, robbing and destroying. The work of the Devil himself. PRAY people for the end of their murderous regime...killing the economy, killing cities, killing the innocents.
4 people like this.
Reply 13 - Posted by:
valinva 7/28/2022 10:57:55 AM (No. 1231039)
How can you expect people who can't tell you the definition of a woman to be able to define a recession?
5 people like this.
Reply 14 - Posted by:
ARKfamily 7/28/2022 10:57:58 AM (No. 1231041)
#2, I had to look again because I thought, at first, your message was about monkey pox. I guess I will leave it at that. . .
2 people like this.
Reply 15 - Posted by:
jeffkinnh 7/28/2022 10:58:13 AM (No. 1231042)
The number just released is an "estimate". More data will be collected and NBER will finalize the value once all the data is in. That takes months.
HOWEVER, the reality is, the estimate AND its implications has always been the number reported by the media. Any other time, it would be declared the country was in a recession because IT IS. The dems and their propaganda media are desperate to avoid more official bad news. If we put thumb screws on them they would still declare, "No, no. It's not a recession.".
No one is going to believe them. They have no credibility. They have created an economic disaster for most Americans. We are PERSONALLY impacted by the dems bad decisions. WE KNOW! Brandon can throw senior tantrums all he wants. It isn't going to make a difference. We ARE in a recession and everyone KNOWS it. Even the ones that are desperately denying it.
2 people like this.
Reply 16 - Posted by:
john56 7/28/2022 11:13:21 AM (No. 1231060)
#11 wins post of the day.
2 people like this.
Reply 17 - Posted by:
john56 7/28/2022 11:13:57 AM (No. 1231062)
Oops. Sorry. Meant #13 for post of the day!
2 people like this.
Reply 18 - Posted by:
MickTurn 7/28/2022 11:48:34 AM (No. 1231101)
You ARE NOT in a ROUND swimming pool. Pay NO attention to the swirling whirlpool and the 'Flushing' Sound you hear...
1 person likes this.
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HE WILL GO DOWN IN HISTORY AS WORSE THAN CARTER! We are in a recession but wait, the dems are now redefining the meaning of recession to cover their inadequate policies.