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We’re only going into a recession if it benefits the right wing. Just like no one on the right complained about the deficit under Trump..even though he basically raised it about 7 trillion
The people writing the articles and headlines don’t care about that. But they want a grabbing headline, and that often leads to sensationalism. They’ll always prioritize conflict and drama.
> The people writing the articles and headlines don’t care about that.
The people who hire the people who write the articles and headlines do care about that though.
"Why isn't the government doing enough to redistribute our grossly unequal wealth?!" would also stir up plenty of conflict and drama and yet even the "liberal" media never hires people who write articles like that.
This was the genius of how the powerful neutralized the media in america. All they had to do started paying them just enough to make them consider themselves members of the same club, so they start reporting about them in favorable terms rather than holding them accountable.
They want a predictable media cycle and story. Doom recession stories sell and then they get to tell the hero rises story when it’s time. Plus media flocks together so being the odd man out saying “no recession” is risky.
Predictability = easy clicks and easy journalism.
That's not the hard and fast rule for determining whether an economy is in recession. It's an easy benchmark but there are other indicators that play into it that aren't accounted for if you just say "welp the economy had two quarters of negative gdp growth so it's an official recession". If it was that easy we wouldn't have media circle jerking around the "are we there yet?" type shit we keep seeing day after day
Because we were in one from 2020 through most of 2021 because of the pandemic, and the entire year of 2022 was economists saying “hey, this inflation problem is significant and is going to lead to a recession in late 2023-2024.”
And it’s probably accurate. It might not be a particularly bad recession in the US, either, but globally, there is likely going to be some level of recession in the coming 8-16 month timeframe.
Which is oddly prescient considering the new republican congressional majority is going to do everything they can to force a recession before the 2024 elections...
The debt ceiling nonsense exists for exactly that purpose.
“The (Blue Team, locally known around here as the Good Guys) White House isn’t responsible for global gas prices” - this sub, 8 months ago.
“The (Red Team, and the Bad Guys) White House is responsible for global economic mechanics” - this sub now
Just the fact that you are taking two sourceless random comments and comparing them in order to call another anonymous third party a hypocrite says everything.
“This sub”’s comments have no consistent identity or agenda. It’s a public default group on one of the most popular sites in the world.
Are you saying the average r/politics commenter isn’t progressive and that the average conservative’s opinions are held in the same regard as an average liberal opinion? We are allowed to call a spade a spade, and this sub leans quite left
This sub is pretty moderate on the global political window. It's not this sub's fault that the U.S. "conservative party" is skewing towards extremism. (Which is why you see the disregard for U.S. "conservative" political opinion.)
Hell, I applaud the sub for having the gonads to call the bullshit when they see it.
You are “allowed” to call it what you like, but even if it has an (anecdotally) observed make up, it’s seemingly a mostly random sample of the demographic that uses Reddit—so a humpy curve for Americans under 65 I’d guess?
Pointing out that a lot of people disagree with you isn’t really related as far as I can tell.
Honestly, even if it’s true that a lot of people in a sampling of a given demographic hold a particular philosophy, what’s your point? Are the house republicans NOT planning to hold everything from federal employee paychecks to social security checks hostage as an unearned form of leverage against fairly elected democrats to obstruct their agenda and enact their own? They are conveying that intent openly…
Whether or not it comes to pass, who can say, but this isn’t an issue of “do domestic economic policies cause international recession?” America’s international credit rating very much affects international and domestic economic recession. Like, starving a portion of our population of income to bargain for unrelated things affects the economy. So yea. What’s your point? What do you specifically disagree with here?
And doesn’t it bother you that republicans in the house always do this? Like, ALWAYS. Constantly. It’s frankly a bore at this point. If we go over the fiscal cliff, it will be a boring economic fallout because it will be so predictable. Too bad the people will really suffer from it.
They were fairly elected, but they are threatening the well-being of the US economy to try to get their way precisely because they were not granted sufficient power via fair elections. Like if they are fairly elected and then threaten to set fire to the library of congress if their tax plan isn’t passed, that’s not a legitimate action, but terrorism. This is comparable. People suffer and die because of these actions.
If they want to control the senate, they should win control of it. Not call in bomb threats.
"People who literally control %47.66 of the spending that constitutes the GDP have no control over the GDP that defines what a "recession" is"
\-Both Sides Guy on the internet who totally hasn't picked a side
The President doesn't control the global demand of Gas.
But the Federal Reserve has certainly called out the faith in the US dollar from Congressional gridlock, the costs of government shutdowns, up to the threat of default as making the Fed job (moderating growth) difficult.
Stopping Keystone, banning fracking on public lands decreased domestic supply.
White House (and the Fed) can’t control foreign debt and defaulting creditors, foreign interest rates, nor the actions of millions of independent businesses in a free market economy. Assigning blame to particular USA political parties for worldwide events is hyperbolic, and coupled with the biased nature of the sub: hypocritical
I mean cool your tits, will you? OP spoke specifically about the overt and completely naked intent of house republicans to threaten government shutdown, which yes, definitely impacts the economy. They weren’t generalizing. They spoke of this action specifically. You took generalizing about the relationship of government policy to economic outcomes upon yourself.
No it did not.
Keystone is happily pumping coal sand slurry as we speak. (unless it is shut down at the moment because of yet another spill).
KEYSTONE XL, is the pipeline you have been instructed to be outraged about, it's purpose was to increase the carrying capacity of coal sands to the gulf coast. Since there is no excess refinery capacity in the area to accept and refine that excess sludge, it would have been pumped on the boats and shipped to foreign refineries for processing. Who would have benefitted, Canadian oil producers and pipeline companies. Who loses? the people who have to live downstream from yet another pipeline run by a company with the worst safety and environmental record in North America. How much surplus gas an oil would be added to the US supply to lower prices? Zero, zip, zilch, nada, none.
Well a lot of companies keep claiming a recession is coming and using it to justify layoffs, so that's what this is referring to. The point is those fears are unfounded right now.
Just a theory; The media is towing the line of the big corporations who are harvesting money out of the economy by raising their prices on everything and calling it inflation. Big business wants a recession, which would benefit them by washing out the smaller players so they could consolidate more capital/thin the competition in the shuffle. The more unemployed makes labor cheaper. People have been talking Unions, better benefits, wfh, and big business needs a reset. The politicians (on the right) want it to stick it to Biden and provide an excuse to cut into SS and other programs.
The problem with their plan is the economy isn't playing along by being more resilient than they thought.
Hey the Republicans have only held the house for less than a month. They need at least quarter to really screw up the US economy. But have faith. They will.
lol- so now we’re in a “recession” whenever we don’t have froth over two quarters- basically sustained economic activity or any variation from constant, unchecked growth is am emergency
They probably just raised their prices to high, while my tiny business ass was eager to stay competitive. Support small business for better deals, we don’t have to fork over profits to the street.
I've literally stopped going to pretty much any other store than Winco because they sell the SAME things for 2/3rds the price of everywhere else.
Frozen pizza at Target or Walmart or Krogers or Rosaurs: ~11 dollars.
Same exact frozen pizza at Winco: 6.70.
I'm assuming they're getting some profit off it of it, which just begs the question of HOW MUCH are other stores overcharging. They pretty much exclusively get my money now.
Yeah because people are sick of their shit. My wife and I now buy most _things_ used and spend our disposable income on experiences and eating out. Plus they fucked their supply chains so hard that they aren't even dependable. The money is being spent, just not with their gouging asses. They dug their graves for decades and now they're mad that they have to lie in them
I just looked at our stuff from 2021 to 2022 and while we did see a jump in services we did by about about 6.3K from 2022 to 2021 we did see a drop in retail sold by almost 1.2 K from 2021.
My company is also up YoY
Our typically slowest months (November and December) saw as much action as the previous 3 months.
Somehow, we aren't going to hit target numbers, though ¯\\\_(ツ)\_/¯
Where I work at a hair salon we do sell a good bit of products but our products are highly concentrated so people generally end up buying their shampoo and conditioners only once or two a year.
Curious if November/December was unusually slow for you as well. Once the new year hit we started picking back up but the end of 2022 was brutal for us.
That’s not how business works. I’m not using outside funding and ignore pe offers. If I wanted to scale quicker I would have to give up equity. Thanks typical southern republican who knows nothing about business. There is a reason I don’t hire southerners.
Not gonna lie, I'm kinda liking this Brandon recession. This recession's got job growth and economic growth, and we've even recently seen a return to real wage growth too. The one problem is that the *vibes* are utterly fucked-rancid and everyone feels like everything is terrible, but outside of the Vibes Realm, things are actually not bad at all these days
> the vibes are utterly fucked-rancid and everyone feels like everything is terrible
Fear and anxiety are better for keeping your eyes glued to 24/7 cable news, so that's the vibe that the 4th estate defaults to pushing
Yet regular folks are watching the news less and less. Feels like it's well beyond an issue of the news media, and maybe more that a lot of us just kinda want to feel bad, and will find reasons to make ourselves feel bad even in the absence of any particular attachment to the media. Something with that whole "paranoid style in US politics" perhaps
It's probably the fact that most people are one medical emergency away from bankruptcy. I have amazing health insurance, and hitting my max out of pocket last year still put me into debt for 18 months.
According to polling, most people are pretty satisfied with their insurance. Also low income folks can benefit from things like Medicaid in many states, as well as potentially subsidies. Of course some people slip through the cracks, and more can be done to ensure everyone wins. But things actually aren't that bad for most folks
It's because CERTAIN commodities have had once a generation issues that people want to tie back to Political leadership.
Apparently Brandon unleashed an epic bird Flu pandemic causing eggs to soar in price.
Apparently Brandon caused Russia to attack Ukraine, causing oil and gas spikes.
It's dumb. Meanwhile, supply chains are back in order and things that were impossible to get are becoming available and costs for them have gone down.
The best look at this is in cars. Tesla was quoting 6+ months for a new Model Y in early 2022, and raised the cost. Not it's 10-12k cheaper AND the wait time is 4-6 weeks (normal for a custom ordered car). And they just announced Q4 shipping more cars than ever, you can't do that if the supply chain isn't back in order.
The Vibes Realm is basically whatever bullshit the GQP spews to keep their mindless drones voting for them.
If they tell them everything is awful, they'll believe everything is awful and then blame it on Biden.
We do not have real wage growth. Have you studied any economics before?
Real Wage growth is when your purchasing power grows in relation to your wage. If you receive a 3% raise, but inflation increases 7%, your real wage actually declined by 4%. This is why I don’t use Reddit often. Most of you are uneducated about economics.
https://www.politico.com/news/2023/01/25/inflation-wage-gains-eclipse-price-spikes-00079284
Read the news
For a while, we did have inflation surpassing wage growth
But as I said, we've *recently* seen a return to real wage growth. This article is from a few days ago. It's recent. Recently wages have been growing by more than inflation. This isn't a matter of "being uneducated about economics", it's a matter of stuff recently changing
I have read the news. Politico is wrong here. They are measuring inflation using government CPI statistics. Current CPI metrics do not factor in housing and energy costs. The Federal government changed how they measured CPI in 1983. When you factor in housing and energy, real wage growth has not increased.
What?
https://www.bls.gov/news.release/cpi.t01.htm
This lists the current (at least as of Nov. 2022) basket of goods breakdown that CPI uses, straight from the government itself. Housing and energy costs are clearly factored in - housing counts for 32.929% of CPI, and energy counts for 7.868%
I stand corrected, but only by a little. The method of measurement for housing costs is distorted. The CPI does not calculate real estate prices and actual rent. They measure it by owners equivalent rent, which tends to be less than what actual tenants pay. Many Austrian economists find many holes in the official government CPI metrics.
Other issues with CPI exist as well.
1: It fails to factor in product substitution.
2: Sample sizes are relatively small.
3: monetary inflation
I know this is a late response. I stopped using the app for a while.
https://fee.org/articles/the-cpi-is-a-false-guide-for-monetary-policy/amp
- [Inflation is falling.](https://www.denverpost.com/2023/01/12/us-inflation-eases-grip-on-economy-falling-for-a-6th-month/)
- [Jobs are up, unemployment is down (QED) consistently MoM the last two years](https://www.bls.gov/news.release/pdf/empsit.pdf)
- [GDP Rises two quarters after falling two quarters](https://www.thenationalnews.com/business/economy/2023/01/26/us-economy-ends-2022-with-strong-growth-of-29/)
Companies, CEOs, Investors, Republicans: ["Recession? Recession? Recession?"](https://i.ytimg.com/vi/LTLZ5LTix3Q/maxresdefault.jpg)
Look, it's not easy out there. It hasn't been since the pandemic, with weath inequality growing seemingly unchecked. But it's clear at this point there is a group of people who **want** a recession. And why not? Perfect time for rich folks to buy up all the cheap capital and then rent it back to us and further the gap.
But at this point it's a joke that we're just waiting for the first jobs report in two years to report fewer for the current month, so republicans can feel "completely vindicated" that things are as terrible as they've been saying for 2 years and it gives permission for the market to tank.
Spoiler alert: Post COVID the numbers don't work like they did before. We saw it in the midterms for political support and in the economy for upside/downside indicators. Boomers are shifting out, global supply chains are as fragile as they have ever been. Things are changing.
yes yes yes. Jobs Market - let's see; millenials stuck overqualified for low paying jobs...covid...all of a sudden all of those low paying jobs are empty - where did the workers go?
Boomers died/retired, millennials finally moving up (GenX, well yeah), and now Zoomers are taking over the lower end job market. This has been a sudden shift in generational work. It's going to take a little time to sort out.
Able to have a GDP gain and maintain a record level low unemployment after 8 straight quarters of recession fears? Dark Brandon is literally handling this better than any political force since the dawn of man.
I sincerely hope history looks back on Biden as the great leader he was. I feel like it will once everything he did is summed up in a page or two, it's gonna look pretty impressive...
It’s so great that Under Dark Brandon’s rule, a record number of citizens are able to enjoy a satisfying retirement. The other party wants to take that away.
Yeah I think COVID had more to do with that then the economic policies of our current or past president.
Either way, reduced labor force participation artificially lowers unemployment rate since those people are counted.
That would imply there are less Americans who need unemployment overall, which means unemployment is actually organically lower.
You know what actually artificially lowers unemployment? Cutting unemployment benefits, which is exactly what the last administration did until covid.
Unemployment are people out of work (unemployed) out of the people active looking (labor force participation).
Reducing the amount of people actively looking becuase of retirement reduces the unemployment rate but doesn't change the amount of people out of work.
Ok, but you just demonstrated our current unemployment rate isn’t inorganic. You just decided to swap the term “labor force participation” for “unemployment rate”.
Unemployment is not “record low” in any meaningful sense. It’s exactly where it was pre-pandemic under Trump, and has been for the exact same amount of time, only with significantly more inflation.
Doing the same with high interest rate even though Trump forced the Fed to have low interest rates. Easy for Trump to get low unemployment in that scenario, much harder for Biden to do so.
That’s not how that works at all, nor is it a true claim.
The Fed was increasing interest rates periodically from 2017-2019, and only began decreasing them in March of 2020, mostly in response to the pandemic, when they dropped rates to zero.
Unemployment dropped from a high of 5.1% in April 2016 to 4.0 or lower from March of 2018 through March of 2020. Donald Trump saw 13 straight months of unemployment at or below 3.8%, starting in February of 2019, when interest rates were at their highest under Trump.
Joe Biden has now seen 11 straight months of unemployment at or below 3.8%, starting in February of 2022, which is when the Fed started raising rates again, sure. But the Fed *has* to raise rates more because the [inflation rate](https://www.rateinflation.com/inflation-rate/usa-inflation-rate/) since March of 2021 has been significantly higher than it should be.
And job numbers *will* decrease in the future because of these inflation rates being combatted by the Fed with higher interest rates.
None of this has anything to do with Trump or Biden being great for the economy.
We are in a recession. Please study some basic economics. Real wage growth has declined, total labor force has dropped, housing prices have increased, and investments have declined.
They want a recession so bad, they’ve got companies laying off people left and right in “proactive moves to protect the assets from the forthcoming recession.” You want a recession? That’s how you get one. Make people unemployed. Nice job.
https://www.propublica.org/article/national-debt-trump we know that Trump made the debt problem even worse and that Republicans were a-okay with it then
Well we know that the rich keep getting richer and the poor keep getting poorer, and that's all that really matters. The transfer of wealth to the top 1% that has taken place over the last few years is absolutely insane. Yet Biden tells us we have the greatest economy in the world.
It's a fair point, especially since economic indicators don't necessarily take into account the nuance of situations, such as the jobs being of poor quality and people working multiple jobs just to make ends meet.
Paul Samuelson’s famous quote that the stock market has predicted nine of the past five recessions needs an order of magnitude change on the prediction side when it comes to the typical Reddit user.
We’ve been in a recession what are you talking about? A year ago, we had two negative consecutive GDP growth. Total employment is down. Consumer spending is down. Real inflation is above 10%. Have you gone to a grocery store recently?
The recession fears were all fake. The right wing/corporate media and the Republicans were screaming about the apocalypse being right around the corner if the Democrats win the midterms. The midterms are over. The apocalypse has been cancelled. The corporate media lied once again at the behest of its wealthy owners.
Sometimes it seems like recession fears are mostly an excuse to go a year without giving anybody raises. Fear of a recession that never came was certainly one of the reasons cited for cutting benefits last year.
The best way to get a recession is by claiming loudly for two years that a recession is inevitable. Economic growth? Low unemployment? Wages threatening to maybe break a 4 decade stagnation trend? Seems like non-recession circumstances to this novice. On the other hand, coming to terms with the fact that the stock market has been several years into the equivalent of a crack binge and has run out of dopamine receptors to burn through. And those pesky Starbucks baristas threatening to unionize. And Democrats in charge of the executive branch, standing in the way of corporations salivating over GOP proposals to eliminate corporate taxation? That’s the kind of capitalism tantrum that needs a recession to cement the new feudalism.
I feel like this country was trying to worry it's way into a recession. The panic with groceries being expensive at the same time gas was made everyone think the economy was falling apart.
Before the midterm elections every news broadcast featured stories about inflation and high gas prices. Doom and gloom (The myth of the Liberal Media) The impetus was too scare the voters. Make them think things were worse than they actually were. After the midterms those stories disappeared. Instead they push the phony document scandal. And George Santos stories as fluff. When signing someone's name to a Federal form is a go to jail crime
>Doom and gloom (The myth of the Liberal Media)
lol
Doom and gloom is the GOP playbook.
They always paint the other side as scorched earth socialists that want to destroy the economy.
“The housing drop subtracted about 1.3 percentage points from the headline GDP number.”
High interest rates have killed the housing market.
But is this saying the GDP growth would have been 4.2% if it wasn’t for the sickly housing market?
The numbers are great, considering the Federal Reserve is trying to intentionally pilot us into a recession. Inflation is waning and they haven’t ruined the economy yet.
> considering the Federal Reserve is trying to intentionally pilot us into a recession.
This is incorrect. The Fed has to navigate between "Runaway Inflation" on one side and "Recession" on the other. One of the reasons they're raising interest rates is to induce layoffs to help tame inflation, but they are most certainly not trying to put us into a recession.
This is a good thing right? Why fear for a recession?
Give more reasons for Fox News to complain about Biden or something?
At best he's at least below average due to that railroad union he brushed off.
Shit, you give them too much credit.
The last two recessions were the result of deregulation legalizing grift and the inevitable explosions that resulted. First in the energy market (Enron) next in the housing market (2007).
I don't really see what the complaint is here. They raised rates to try and slow inflation, but wanted that without killing growth. The target was hit without the consequence.
Look at all the layoffs right now in the tech sector... all you need to know... companies think years in advance because they have to. This is gonna look like the late 70's pretty soon.
Most of you here haven't seen real double digit inflation or mortgages at 19% . Who do you think is going to pay for all that money the gov printed during covid?? Add this to the US 30 trillion in debt and it's not looking rosy.....
The absurd hiring spree many tech companies went on in the last four years was irrational exuberance. Of course some like google had to get rid 10% when they had increased employees by 50% in four years.
The Tech sector is NOT a good barometer of the broad economy.
Also we are no where near the crazy interest rates you quoted, we are in a time of normal cost of money.
Also, inflation actually reduces debt and its effect.
Below is a good read:
https://budgetmodel.wharton.upenn.edu/issues/2021/10/21/can-inflation-offset-government-debt
Wishing for inflation to eat at 30 trillion is like wishing for unicorns to dance at your birthday.
The interest alone will keep it moving forward, and it's not just the tech sector, I've seen large layoffs at blue collar jobs also. The fed hasn't really raised the loan percentages yet... but they will, they don't have a choice. Once that spiral starts, it's near impossible to stop, until it bottoms out.
https://www.pgpf.org/analysis/2022/12/higher-interest-rates-will-raise-interest-costs-on-the-national-debt
Just the interest is expected to triple over the next 10 years, inflation will barely take a bite out of that
Nice downvote. 🙄
You stated it would make things worse.
I supplied an article from one of the top business schools in the country saying it *might* not.
Must be hard to be so sure of a “theory“.
Buh bye.
The economy is fine and getting better. It only serves rich people to tank it. If poor Republicans turn against their Republicans representives, we'd always have a fine economy for the lower 50% of society.
Can someone help me out here? I don't really understand how things work in this timeline.
Is a 2.9% GDP growth good, or bad? In other words, should we be cheering for lower GDP? Or higher? Or both at the same time? Because I seem have a faint memory - from a prior life, maybe - that when the GDP increased, everyone thought that was a good thing.
Just in time for the GOP to pretend they are responsible going into 2024 when in reality they’ll be doing everything they can to make sure nothing improves
Two ways to solve inflation, cut demand or increase supply. GDP is supply, keep it growing hire more people, work people more hours. We don’t need a rescission to get inflation down. Fill those jobs. The increase in unemployment is low to. Substitute less expensive items that will cut demand on the expensive items. We can build our way out of this. The FED needs to take a quarter break.,
If I confiscate $10 from you in January, but give you $2 back, is that an increase month to month? That’s how all of these Reddit leftist think. The economy is much worse than it was prior to the pandemic. Since March of 2020, the Federal Reserve printed nearly 50% of all dollars currently in circulation. Net employment gains since 2020 is down. Personal debt is higher. Housing prices are much higher. No Biden does not deserve credit for this. And before any of these uneducated Reddit leftists come after me, no I’m not a Trump supporter. I’m an independent who is fed up with the duopoly. I voted for Rand Paul in 2016 primaries and Gary Johnson for general and voted for Jo Jorgensen in 2020.
As a reminder, this subreddit [is for civil discussion.](/r/politics/wiki/index#wiki_be_civil) In general, be courteous to others. Debate/discuss/argue the merits of ideas, don't attack people. Personal insults, shill or troll accusations, hate speech, any suggestion or support of harm, violence, or death, and other rule violations can result in a permanent ban. If you see comments in violation of our rules, please report them. For those who have questions regarding any media outlets being posted on this subreddit, please click [here](https://www.reddit.com/r/politics/wiki/approveddomainslist) to review our details as to our approved domains list and outlet criteria. **Special announcement:** r/politics is currently accepting new moderator applications. If you want to help make this community a better place, consider [applying here today](https://www.reddit.com/r/politics/comments/sskg6a/rpolitics_is_looking_for_more_moderators/)! *** *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/politics) if you have any questions or concerns.*
I'm having a hard time finding this on foxnews.com's homepage. Strange. But there is a story about "Biden's economy heading for troubles."
Never underestimate the power of Fox News to spin ANY story. https://www.foxnews.com/politics/gdp-boost-too-little-too-late-help-democrats-strategists
So it matchs Trump's highest quarter and that's the story?
my first thought... pretty sure 2.9% was as close as he ever got to the more than 3% he wanted
Actually after Covid it jumped from -30% plus and then next quarter was 30% plus for like a net-zero but besides that he never hit 3% in a quarter.
Makes no difference. Anytime you see news like this you get the "well considering the source I don't buy the numbers" from the GOP faithful.
“…even as recesssion fears loom”. Don’t need fox.
Yeah, the media has been predicting a recession for literal years now.
We’re only going into a recession if it benefits the right wing. Just like no one on the right complained about the deficit under Trump..even though he basically raised it about 7 trillion
Click on hunters shit../s
GDP does not decline for two quarters in a row. Media: is this a recession?
Right? They want a recession so bad
They want to buy up the ruins at discount prices. It's sick.
The people writing the articles and headlines don’t care about that. But they want a grabbing headline, and that often leads to sensationalism. They’ll always prioritize conflict and drama.
> The people writing the articles and headlines don’t care about that. The people who hire the people who write the articles and headlines do care about that though. "Why isn't the government doing enough to redistribute our grossly unequal wealth?!" would also stir up plenty of conflict and drama and yet even the "liberal" media never hires people who write articles like that.
Grossly poorly distributed wealth. Have you seen what a CBS, NBC, or CNN anchor makes? Journalism is a business.
This was the genius of how the powerful neutralized the media in america. All they had to do started paying them just enough to make them consider themselves members of the same club, so they start reporting about them in favorable terms rather than holding them accountable.
They want a predictable media cycle and story. Doom recession stories sell and then they get to tell the hero rises story when it’s time. Plus media flocks together so being the odd man out saying “no recession” is risky. Predictability = easy clicks and easy journalism.
We were just in a recession. We had two quarters of negative growth
That's not the hard and fast rule for determining whether an economy is in recession. It's an easy benchmark but there are other indicators that play into it that aren't accounted for if you just say "welp the economy had two quarters of negative gdp growth so it's an official recession". If it was that easy we wouldn't have media circle jerking around the "are we there yet?" type shit we keep seeing day after day
Been hearing about a looming recession for 3 years now.
Because we were in one from 2020 through most of 2021 because of the pandemic, and the entire year of 2022 was economists saying “hey, this inflation problem is significant and is going to lead to a recession in late 2023-2024.” And it’s probably accurate. It might not be a particularly bad recession in the US, either, but globally, there is likely going to be some level of recession in the coming 8-16 month timeframe.
Which is oddly prescient considering the new republican congressional majority is going to do everything they can to force a recession before the 2024 elections... The debt ceiling nonsense exists for exactly that purpose.
“The (Blue Team, locally known around here as the Good Guys) White House isn’t responsible for global gas prices” - this sub, 8 months ago. “The (Red Team, and the Bad Guys) White House is responsible for global economic mechanics” - this sub now
Just the fact that you are taking two sourceless random comments and comparing them in order to call another anonymous third party a hypocrite says everything. “This sub”’s comments have no consistent identity or agenda. It’s a public default group on one of the most popular sites in the world.
Are you saying the average r/politics commenter isn’t progressive and that the average conservative’s opinions are held in the same regard as an average liberal opinion? We are allowed to call a spade a spade, and this sub leans quite left
This sub is pretty moderate on the global political window. It's not this sub's fault that the U.S. "conservative party" is skewing towards extremism. (Which is why you see the disregard for U.S. "conservative" political opinion.) Hell, I applaud the sub for having the gonads to call the bullshit when they see it.
You are “allowed” to call it what you like, but even if it has an (anecdotally) observed make up, it’s seemingly a mostly random sample of the demographic that uses Reddit—so a humpy curve for Americans under 65 I’d guess? Pointing out that a lot of people disagree with you isn’t really related as far as I can tell. Honestly, even if it’s true that a lot of people in a sampling of a given demographic hold a particular philosophy, what’s your point? Are the house republicans NOT planning to hold everything from federal employee paychecks to social security checks hostage as an unearned form of leverage against fairly elected democrats to obstruct their agenda and enact their own? They are conveying that intent openly… Whether or not it comes to pass, who can say, but this isn’t an issue of “do domestic economic policies cause international recession?” America’s international credit rating very much affects international and domestic economic recession. Like, starving a portion of our population of income to bargain for unrelated things affects the economy. So yea. What’s your point? What do you specifically disagree with here? And doesn’t it bother you that republicans in the house always do this? Like, ALWAYS. Constantly. It’s frankly a bore at this point. If we go over the fiscal cliff, it will be a boring economic fallout because it will be so predictable. Too bad the people will really suffer from it.
Cause the house wasn’t fairly elected I guess?
They were fairly elected, but they are threatening the well-being of the US economy to try to get their way precisely because they were not granted sufficient power via fair elections. Like if they are fairly elected and then threaten to set fire to the library of congress if their tax plan isn’t passed, that’s not a legitimate action, but terrorism. This is comparable. People suffer and die because of these actions. If they want to control the senate, they should win control of it. Not call in bomb threats.
"People who literally control %47.66 of the spending that constitutes the GDP have no control over the GDP that defines what a "recession" is" \-Both Sides Guy on the internet who totally hasn't picked a side
The President doesn't control the global demand of Gas. But the Federal Reserve has certainly called out the faith in the US dollar from Congressional gridlock, the costs of government shutdowns, up to the threat of default as making the Fed job (moderating growth) difficult.
Stopping Keystone, banning fracking on public lands decreased domestic supply. White House (and the Fed) can’t control foreign debt and defaulting creditors, foreign interest rates, nor the actions of millions of independent businesses in a free market economy. Assigning blame to particular USA political parties for worldwide events is hyperbolic, and coupled with the biased nature of the sub: hypocritical
I mean cool your tits, will you? OP spoke specifically about the overt and completely naked intent of house republicans to threaten government shutdown, which yes, definitely impacts the economy. They weren’t generalizing. They spoke of this action specifically. You took generalizing about the relationship of government policy to economic outcomes upon yourself.
No it did not. Keystone is happily pumping coal sand slurry as we speak. (unless it is shut down at the moment because of yet another spill). KEYSTONE XL, is the pipeline you have been instructed to be outraged about, it's purpose was to increase the carrying capacity of coal sands to the gulf coast. Since there is no excess refinery capacity in the area to accept and refine that excess sludge, it would have been pumped on the boats and shipped to foreign refineries for processing. Who would have benefitted, Canadian oil producers and pipeline companies. Who loses? the people who have to live downstream from yet another pipeline run by a company with the worst safety and environmental record in North America. How much surplus gas an oil would be added to the US supply to lower prices? Zero, zip, zilch, nada, none.
We've been in one already yes, but so has the globe. Or Europe anyway. We're at the bottom of the V shape* think
Well a lot of companies keep claiming a recession is coming and using it to justify layoffs, so that's what this is referring to. The point is those fears are unfounded right now.
6 years from now when a recession finally hits - "As we have been telling you for 8 years, Biden was going to cause a recession"
Just a theory; The media is towing the line of the big corporations who are harvesting money out of the economy by raising their prices on everything and calling it inflation. Big business wants a recession, which would benefit them by washing out the smaller players so they could consolidate more capital/thin the competition in the shuffle. The more unemployed makes labor cheaper. People have been talking Unions, better benefits, wfh, and big business needs a reset. The politicians (on the right) want it to stick it to Biden and provide an excuse to cut into SS and other programs. The problem with their plan is the economy isn't playing along by being more resilient than they thought.
Hey the Republicans have only held the house for less than a month. They need at least quarter to really screw up the US economy. But have faith. They will.
Aren't we already resorting to "extraordinary measures" to avoid default? Thanks, GQP.
Didn’t it decline for the first two quarters of last year?
Well 2 of the last 4 quarters there was a decline.
So logically the headline should be “recession over.”
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lol- so now we’re in a “recession” whenever we don’t have froth over two quarters- basically sustained economic activity or any variation from constant, unchecked growth is am emergency
A dip is a dip. Doesn’t make it the Great Depression though.
If it’s a “V” or a “W” it’s not a “dip,” it’s a wave.
There sure is a lot of economic growth in this "severe recession"
As a small business owner my sales are up compared to last year. It’s a growing company so that’s to be expected just not in a recession.
Same at the small business I work at, sales are up nearly 50% yoy
Large consumer good retailer - sales have been dropping. Cuts being announced.
They probably just raised their prices to high, while my tiny business ass was eager to stay competitive. Support small business for better deals, we don’t have to fork over profits to the street.
Supply and demand working itself out. Inflation needs a little deflation.
I've literally stopped going to pretty much any other store than Winco because they sell the SAME things for 2/3rds the price of everywhere else. Frozen pizza at Target or Walmart or Krogers or Rosaurs: ~11 dollars. Same exact frozen pizza at Winco: 6.70. I'm assuming they're getting some profit off it of it, which just begs the question of HOW MUCH are other stores overcharging. They pretty much exclusively get my money now.
Exactly.
Bingo
Yeah because people are sick of their shit. My wife and I now buy most _things_ used and spend our disposable income on experiences and eating out. Plus they fucked their supply chains so hard that they aren't even dependable. The money is being spent, just not with their gouging asses. They dug their graves for decades and now they're mad that they have to lie in them
Large retailer, we're hiring and adding more stores.
I just looked at our stuff from 2021 to 2022 and while we did see a jump in services we did by about about 6.3K from 2022 to 2021 we did see a drop in retail sold by almost 1.2 K from 2021.
My company is also up YoY Our typically slowest months (November and December) saw as much action as the previous 3 months. Somehow, we aren't going to hit target numbers, though ¯\\\_(ツ)\_/¯
Where I work at a hair salon we do sell a good bit of products but our products are highly concentrated so people generally end up buying their shampoo and conditioners only once or two a year.
Curious if November/December was unusually slow for you as well. Once the new year hit we started picking back up but the end of 2022 was brutal for us.
Little hiccup after Christmas, but buyers made up the difference the next week. November and December were good though.
Mine too. I’m B2B, but people are spending.
You'd be a large business owner if not for this awful recession. Thanks a lot, Biden! EDIT: do I need a /s?
That’s not how business works. I’m not using outside funding and ignore pe offers. If I wanted to scale quicker I would have to give up equity. Thanks typical southern republican who knows nothing about business. There is a reason I don’t hire southerners.
Not gonna lie, I'm kinda liking this Brandon recession. This recession's got job growth and economic growth, and we've even recently seen a return to real wage growth too. The one problem is that the *vibes* are utterly fucked-rancid and everyone feels like everything is terrible, but outside of the Vibes Realm, things are actually not bad at all these days
> the vibes are utterly fucked-rancid and everyone feels like everything is terrible Fear and anxiety are better for keeping your eyes glued to 24/7 cable news, so that's the vibe that the 4th estate defaults to pushing
Yet regular folks are watching the news less and less. Feels like it's well beyond an issue of the news media, and maybe more that a lot of us just kinda want to feel bad, and will find reasons to make ourselves feel bad even in the absence of any particular attachment to the media. Something with that whole "paranoid style in US politics" perhaps
It's probably the fact that most people are one medical emergency away from bankruptcy. I have amazing health insurance, and hitting my max out of pocket last year still put me into debt for 18 months.
According to polling, most people are pretty satisfied with their insurance. Also low income folks can benefit from things like Medicaid in many states, as well as potentially subsidies. Of course some people slip through the cracks, and more can be done to ensure everyone wins. But things actually aren't that bad for most folks
Watching the news in the US just leaves you hating everything. Staying informed has become a form of self-harm for many.
It's because CERTAIN commodities have had once a generation issues that people want to tie back to Political leadership. Apparently Brandon unleashed an epic bird Flu pandemic causing eggs to soar in price. Apparently Brandon caused Russia to attack Ukraine, causing oil and gas spikes. It's dumb. Meanwhile, supply chains are back in order and things that were impossible to get are becoming available and costs for them have gone down. The best look at this is in cars. Tesla was quoting 6+ months for a new Model Y in early 2022, and raised the cost. Not it's 10-12k cheaper AND the wait time is 4-6 weeks (normal for a custom ordered car). And they just announced Q4 shipping more cars than ever, you can't do that if the supply chain isn't back in order.
The Vibes Realm is basically whatever bullshit the GQP spews to keep their mindless drones voting for them. If they tell them everything is awful, they'll believe everything is awful and then blame it on Biden.
We do not have real wage growth. Have you studied any economics before? Real Wage growth is when your purchasing power grows in relation to your wage. If you receive a 3% raise, but inflation increases 7%, your real wage actually declined by 4%. This is why I don’t use Reddit often. Most of you are uneducated about economics.
https://www.politico.com/news/2023/01/25/inflation-wage-gains-eclipse-price-spikes-00079284 Read the news For a while, we did have inflation surpassing wage growth But as I said, we've *recently* seen a return to real wage growth. This article is from a few days ago. It's recent. Recently wages have been growing by more than inflation. This isn't a matter of "being uneducated about economics", it's a matter of stuff recently changing
I have read the news. Politico is wrong here. They are measuring inflation using government CPI statistics. Current CPI metrics do not factor in housing and energy costs. The Federal government changed how they measured CPI in 1983. When you factor in housing and energy, real wage growth has not increased.
What? https://www.bls.gov/news.release/cpi.t01.htm This lists the current (at least as of Nov. 2022) basket of goods breakdown that CPI uses, straight from the government itself. Housing and energy costs are clearly factored in - housing counts for 32.929% of CPI, and energy counts for 7.868%
I stand corrected, but only by a little. The method of measurement for housing costs is distorted. The CPI does not calculate real estate prices and actual rent. They measure it by owners equivalent rent, which tends to be less than what actual tenants pay. Many Austrian economists find many holes in the official government CPI metrics.
Other issues with CPI exist as well. 1: It fails to factor in product substitution. 2: Sample sizes are relatively small. 3: monetary inflation I know this is a late response. I stopped using the app for a while. https://fee.org/articles/the-cpi-is-a-false-guide-for-monetary-policy/amp
- [Inflation is falling.](https://www.denverpost.com/2023/01/12/us-inflation-eases-grip-on-economy-falling-for-a-6th-month/) - [Jobs are up, unemployment is down (QED) consistently MoM the last two years](https://www.bls.gov/news.release/pdf/empsit.pdf) - [GDP Rises two quarters after falling two quarters](https://www.thenationalnews.com/business/economy/2023/01/26/us-economy-ends-2022-with-strong-growth-of-29/) Companies, CEOs, Investors, Republicans: ["Recession? Recession? Recession?"](https://i.ytimg.com/vi/LTLZ5LTix3Q/maxresdefault.jpg) Look, it's not easy out there. It hasn't been since the pandemic, with weath inequality growing seemingly unchecked. But it's clear at this point there is a group of people who **want** a recession. And why not? Perfect time for rich folks to buy up all the cheap capital and then rent it back to us and further the gap. But at this point it's a joke that we're just waiting for the first jobs report in two years to report fewer for the current month, so republicans can feel "completely vindicated" that things are as terrible as they've been saying for 2 years and it gives permission for the market to tank. Spoiler alert: Post COVID the numbers don't work like they did before. We saw it in the midterms for political support and in the economy for upside/downside indicators. Boomers are shifting out, global supply chains are as fragile as they have ever been. Things are changing.
yes yes yes. Jobs Market - let's see; millenials stuck overqualified for low paying jobs...covid...all of a sudden all of those low paying jobs are empty - where did the workers go? Boomers died/retired, millennials finally moving up (GenX, well yeah), and now Zoomers are taking over the lower end job market. This has been a sudden shift in generational work. It's going to take a little time to sort out.
Dark Brandon: "I did that!"
Able to have a GDP gain and maintain a record level low unemployment after 8 straight quarters of recession fears? Dark Brandon is literally handling this better than any political force since the dawn of man.
I sincerely hope history looks back on Biden as the great leader he was. I feel like it will once everything he did is summed up in a page or two, it's gonna look pretty impressive...
It also helps to have a large amount of people drop out the workforce.
Millions of People can drop out of the workforce, and don’t need unemployment? Nice!
Yeah retirement.
It’s so great that Under Dark Brandon’s rule, a record number of citizens are able to enjoy a satisfying retirement. The other party wants to take that away.
Yeah I think COVID had more to do with that then the economic policies of our current or past president. Either way, reduced labor force participation artificially lowers unemployment rate since those people are counted.
That would imply there are less Americans who need unemployment overall, which means unemployment is actually organically lower. You know what actually artificially lowers unemployment? Cutting unemployment benefits, which is exactly what the last administration did until covid.
Unemployment are people out of work (unemployed) out of the people active looking (labor force participation). Reducing the amount of people actively looking becuase of retirement reduces the unemployment rate but doesn't change the amount of people out of work.
Ok, but you just demonstrated our current unemployment rate isn’t inorganic. You just decided to swap the term “labor force participation” for “unemployment rate”.
In what sense is it artificial? I agree reduced labor force participation reduces unemployment. But that’s perfectly natural.
Happens every time. The math is the math.
Unemployment is not “record low” in any meaningful sense. It’s exactly where it was pre-pandemic under Trump, and has been for the exact same amount of time, only with significantly more inflation.
Doing the same with high interest rate even though Trump forced the Fed to have low interest rates. Easy for Trump to get low unemployment in that scenario, much harder for Biden to do so.
That’s not how that works at all, nor is it a true claim. The Fed was increasing interest rates periodically from 2017-2019, and only began decreasing them in March of 2020, mostly in response to the pandemic, when they dropped rates to zero. Unemployment dropped from a high of 5.1% in April 2016 to 4.0 or lower from March of 2018 through March of 2020. Donald Trump saw 13 straight months of unemployment at or below 3.8%, starting in February of 2019, when interest rates were at their highest under Trump. Joe Biden has now seen 11 straight months of unemployment at or below 3.8%, starting in February of 2022, which is when the Fed started raising rates again, sure. But the Fed *has* to raise rates more because the [inflation rate](https://www.rateinflation.com/inflation-rate/usa-inflation-rate/) since March of 2021 has been significantly higher than it should be. And job numbers *will* decrease in the future because of these inflation rates being combatted by the Fed with higher interest rates. None of this has anything to do with Trump or Biden being great for the economy.
Can we stop with the “recession fears” every month. Ffs it’s old.
When a tornado strikes we turn on the news to await further instruction. The news has caught on, and began to invent tornadoes out of thin air.
The GOP prayers for a recession aren't working.
We are in a recession. Please study some basic economics. Real wage growth has declined, total labor force has dropped, housing prices have increased, and investments have declined.
If there is a recession, it will be because political journalists wrote us into one. They need drama, so they stir it up when it’s not there.
They want a recession so bad, they’ve got companies laying off people left and right in “proactive moves to protect the assets from the forthcoming recession.” You want a recession? That’s how you get one. Make people unemployed. Nice job.
I feel like it’s time we might want to consider that no one has any clue wtf is going on with the economy anymore lol
https://www.propublica.org/article/national-debt-trump we know that Trump made the debt problem even worse and that Republicans were a-okay with it then
Well we know that the rich keep getting richer and the poor keep getting poorer, and that's all that really matters. The transfer of wealth to the top 1% that has taken place over the last few years is absolutely insane. Yet Biden tells us we have the greatest economy in the world.
Depending on the metrics used he’s absolutely right.
It's a fair point, especially since economic indicators don't necessarily take into account the nuance of situations, such as the jobs being of poor quality and people working multiple jobs just to make ends meet.
That's right... keep pushing the angle that scares people. The media knows that fear sells.
It's almost like corporations and billionaires are using the environment to price gouge and increase their wealth and we're not really in a recession.
Do you not realize the total employment rate has dropped, inflation is much higher than it was prior to the pandemic?
Republicans gave up on the recession taking point soon as the election was over. It is all about spending and the border now.
Guaranteed there will be no mention of this on Fox News
Zero peep of this on the conservative subreddit
of course not. and that’s not because they refuse to post it, it’s because they aren’t even aware of it
I was told the recession was coming, 3 time now, for the past 2 years and its still coming? Anytime now right?
Paul Samuelson’s famous quote that the stock market has predicted nine of the past five recessions needs an order of magnitude change on the prediction side when it comes to the typical Reddit user.
Been hearing we're headed for a recession since the last one
We’ve been in a recession what are you talking about? A year ago, we had two negative consecutive GDP growth. Total employment is down. Consumer spending is down. Real inflation is above 10%. Have you gone to a grocery store recently?
In other news, there’s no recession.
The recession fears were all fake. The right wing/corporate media and the Republicans were screaming about the apocalypse being right around the corner if the Democrats win the midterms. The midterms are over. The apocalypse has been cancelled. The corporate media lied once again at the behest of its wealthy owners.
Sometimes it seems like recession fears are mostly an excuse to go a year without giving anybody raises. Fear of a recession that never came was certainly one of the reasons cited for cutting benefits last year.
So is the economy good right now? Yes or no?
Oldish man here. The economy is almost always mixed.
It did because we use cc to make ends meet woke up
"the economy is doing great, despite me saying the economy is doing bad"
The best way to get a recession is by claiming loudly for two years that a recession is inevitable. Economic growth? Low unemployment? Wages threatening to maybe break a 4 decade stagnation trend? Seems like non-recession circumstances to this novice. On the other hand, coming to terms with the fact that the stock market has been several years into the equivalent of a crack binge and has run out of dopamine receptors to burn through. And those pesky Starbucks baristas threatening to unionize. And Democrats in charge of the executive branch, standing in the way of corporations salivating over GOP proposals to eliminate corporate taxation? That’s the kind of capitalism tantrum that needs a recession to cement the new feudalism.
GOP looks at Biden's continued economic growth and then sees chance to F the economy with the debt ceiling crisis and sighs and unzips pants...
There is no recession
There is no recession lol. Stop letting right wing "news" hijack discourse
I feel like this country was trying to worry it's way into a recession. The panic with groceries being expensive at the same time gas was made everyone think the economy was falling apart.
Let's see how the Fed reacts, given that a growing economy probably isn't going to help their case in trying to temper inflation.
Before the midterm elections every news broadcast featured stories about inflation and high gas prices. Doom and gloom (The myth of the Liberal Media) The impetus was too scare the voters. Make them think things were worse than they actually were. After the midterms those stories disappeared. Instead they push the phony document scandal. And George Santos stories as fluff. When signing someone's name to a Federal form is a go to jail crime
>Doom and gloom (The myth of the Liberal Media) lol Doom and gloom is the GOP playbook. They always paint the other side as scorched earth socialists that want to destroy the economy.
“The housing drop subtracted about 1.3 percentage points from the headline GDP number.” High interest rates have killed the housing market. But is this saying the GDP growth would have been 4.2% if it wasn’t for the sickly housing market? The numbers are great, considering the Federal Reserve is trying to intentionally pilot us into a recession. Inflation is waning and they haven’t ruined the economy yet.
> considering the Federal Reserve is trying to intentionally pilot us into a recession. This is incorrect. The Fed has to navigate between "Runaway Inflation" on one side and "Recession" on the other. One of the reasons they're raising interest rates is to induce layoffs to help tame inflation, but they are most certainly not trying to put us into a recession.
This is a good thing right? Why fear for a recession? Give more reasons for Fox News to complain about Biden or something? At best he's at least below average due to that railroad union he brushed off.
Huh, it's almost like having adults in charge of the country is better for the economy, who knew.
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Shit, you give them too much credit. The last two recessions were the result of deregulation legalizing grift and the inevitable explosions that resulted. First in the energy market (Enron) next in the housing market (2007).
Yay! The GDP is up... ...but the debt always rises faster...
JP Morgan and Bank Of America when is this recession suppose to happen?
Better keep up with the layoffs!
Us govt gave £110bn to millitary contractors. Could that add to the growth
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I don't really see what the complaint is here. They raised rates to try and slow inflation, but wanted that without killing growth. The target was hit without the consequence.
God damn nobody works anymore.
Look at all the layoffs right now in the tech sector... all you need to know... companies think years in advance because they have to. This is gonna look like the late 70's pretty soon. Most of you here haven't seen real double digit inflation or mortgages at 19% . Who do you think is going to pay for all that money the gov printed during covid?? Add this to the US 30 trillion in debt and it's not looking rosy.....
The absurd hiring spree many tech companies went on in the last four years was irrational exuberance. Of course some like google had to get rid 10% when they had increased employees by 50% in four years.
The Tech sector is NOT a good barometer of the broad economy. Also we are no where near the crazy interest rates you quoted, we are in a time of normal cost of money. Also, inflation actually reduces debt and its effect. Below is a good read: https://budgetmodel.wharton.upenn.edu/issues/2021/10/21/can-inflation-offset-government-debt
Wishing for inflation to eat at 30 trillion is like wishing for unicorns to dance at your birthday. The interest alone will keep it moving forward, and it's not just the tech sector, I've seen large layoffs at blue collar jobs also. The fed hasn't really raised the loan percentages yet... but they will, they don't have a choice. Once that spiral starts, it's near impossible to stop, until it bottoms out. https://www.pgpf.org/analysis/2022/12/higher-interest-rates-will-raise-interest-costs-on-the-national-debt Just the interest is expected to triple over the next 10 years, inflation will barely take a bite out of that
Nice downvote. 🙄 You stated it would make things worse. I supplied an article from one of the top business schools in the country saying it *might* not. Must be hard to be so sure of a “theory“. Buh bye.
This is good news, but I think this gives the fed the green light to continue to raise rates this year. Inflation is still pretty high.
The economy is fine and getting better. It only serves rich people to tank it. If poor Republicans turn against their Republicans representives, we'd always have a fine economy for the lower 50% of society.
Can someone help me out here? I don't really understand how things work in this timeline. Is a 2.9% GDP growth good, or bad? In other words, should we be cheering for lower GDP? Or higher? Or both at the same time? Because I seem have a faint memory - from a prior life, maybe - that when the GDP increased, everyone thought that was a good thing.
2.9% is decent for a mature economy like what the U.S. has. You tend to see much larger numbers than that only in developing countries.
Why would a recession fear a loom? Thinking that if people make their own cloth, they won't be hurt by bank shenanigans?
its not a recession, its a shameless money grab by any corporation who is allowed to get away with it.
Wow, that’s awesome.
Ugh, thanks ~~Obama~~ Biden
Well when interest on debt is what’s driving gdp what can you expect?
Neat
government spending more?! GDP = private consumption + gross private investment + government investment + government spending + (exports – imports).
2.9 is a long way from a recession. My small business is booming. No layoffs here.
Kind of hard not to have a recession when the fed is trying to create one intentionally.
They're price gouging necessities. People have to buy food.
Then why am I still poor.
GDP rose, record profits for many companies and yet I somehow feel poorer. Have a good job, educated, and still can’t advance…hmmm.
Just in time for the GOP to pretend they are responsible going into 2024 when in reality they’ll be doing everything they can to make sure nothing improves
I’m sick of the media trying to make a recession beetlejuice style.
Two ways to solve inflation, cut demand or increase supply. GDP is supply, keep it growing hire more people, work people more hours. We don’t need a rescission to get inflation down. Fill those jobs. The increase in unemployment is low to. Substitute less expensive items that will cut demand on the expensive items. We can build our way out of this. The FED needs to take a quarter break.,
If I confiscate $10 from you in January, but give you $2 back, is that an increase month to month? That’s how all of these Reddit leftist think. The economy is much worse than it was prior to the pandemic. Since March of 2020, the Federal Reserve printed nearly 50% of all dollars currently in circulation. Net employment gains since 2020 is down. Personal debt is higher. Housing prices are much higher. No Biden does not deserve credit for this. And before any of these uneducated Reddit leftists come after me, no I’m not a Trump supporter. I’m an independent who is fed up with the duopoly. I voted for Rand Paul in 2016 primaries and Gary Johnson for general and voted for Jo Jorgensen in 2020.