We are officially in a recession...
 

Why do I say that despite the 2nd qtr GDP numbers not being released yet?

Because the White House is trying to redefine recession before the number comes out, which tells you all you need to know.

GASLIGHTING

and when Walmart gives bad news...its official!!!

Some of us saw this recession coming over a year ago when inflation started to tick up while the Dems wanted to keep spending. It's not just inflation and spending either. Supply chain bottlenecks are adding to our woes and will make it harder to get out of this recession. I wouldn't be surprised if our economy contracts every quarter this year. Unemployment WILL rise in order to re-stabilize the economy, so my advice to Cliff Clavin is to not hug the unemployment number too much. It is a fickle lover. Unemployment is comprised of two elements. Those who become unemployed through economic contraction, and those who start looking for work again because the gravy train handouts stop. Both must happen to get to economic equalibrium, and so the number will rise. If the GOP gains control of at least the House in November, then expect the freebies to end more quickly. The way Biden and team are handling the economy is criminal. The exact opposite of what they should be doing. It's almost as if they were being paid by the Chinese. Oh wait!!

IRONY of IRONIES :eek: :eek:

The guy who so strenuously denied over and over the reality of a recession in 2008 now just can't wait to declare we're in one. Huhh... wonder why that is :rolleyes: :lol:

Fire up the wayback machine! Set coordinates for the GREAT RECESSION

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Had enough yet?? TAKE ME HOME DADDY :lol: :p

The moral of the story - find the biggest grain of salt you can, and that's what you should take with PA's recession predictions :ThmbUp:

Yup...was telling you all back then there hadn't been two consecutive quarters of negative GDP.

I can't wait until you come back after this week's GDP number and tell me we're not in a recession.

At least I follow economic rules consistently. We'll see about you.

You leftists continually alter the rules of economics to suite your agenda.

I don't.

GASLIGHT ME MORE DADDY

Link this KK

This cannot be true cause mosty told us all how great the 2nd q was going to be and how great life would be during and after q2

Let's go Brandon! Often the president doesn't have a big effect on the economy, this time through action and inaction Biden owns a lot of it. The 2008 recession was the result of the real estate market crash that actually came later and harder than most expected.

There were warning signs in 2007 that the recession was coming but it wasn't until the following summer that it really hit IIRC.

Agreed. Warning signs in summer 2007. The brown stuff started hitting the fan in August 2008 in the materials industry (cement,etc) when industrial wear parts sales dropped through the floor seemingly overnight. Like everyone had gotten the same memo.

Absolutely true. I was the one he said that to. :ThmbUp:

We absolutely remember. Don’t worry they are already changing the definition of a recession that’s been used for many decades, just like they did for the vaccine. Most likely if the Libs even admit to a recession they then will say it is “transitory” just like they did with inflation.

Google and Microsoft both missed their latest quarterly earnings projections