July 29, 20224 yr 7 minutes ago, Bacarty2 said: We had this conversation earlier in the year about product pricing. people here think we should praise Biden for the cost of Chicken, pork, gas, etc being down 9-12-15% but they forget that those same products are up 250% since Biden got into office. I got a secret for you... We live in a capitalist market economy. POTUS is not the King of the Capitalists. So we really shouldn't praise or blame Biden for market fluctuations... He has little to do with it. The Conservative narrative is built on lies.
July 29, 20224 yr 11 minutes ago, toolg said: I got a secret for you... We live in a capitalist market economy. POTUS is not the King of the Capitalists. So we really shouldn't praise or blame Biden for market fluctuations... He has little to do with it. The Conservative narrative is built on lies. 100% true. It is also true that we are in a recession by normal accepted definition.
July 29, 20224 yr 16 minutes ago, Bacarty2 said: I wrote a nice long rebuttal, but at the end of the day if you think the potus's policies, comments, actions, etc have no effect on the economy I cant help you. Yup, we can all blame Biden when gas hits 11 bucks a gallon.
July 29, 20224 yr 40 minutes ago, Bacarty2 said: We had this conversation earlier in the year about product pricing. people here think we should praise Biden for the cost of Chicken, pork, gas, etc being down 9-12-15% but they forget that those same products are up 250% since Biden got into office. BDS
July 29, 20224 yr 17 minutes ago, DrPhilly said: 100% true. It is also true that we are in a recession by normal accepted definition. Labor and consumption numbers don't fit the narrative of recession... Call it what you want, the economy is wack.
July 29, 20224 yr Just now, toolg said: Labor and consumption numbers don't fit the narrative of recession... Call it what you want, the economy is wack. The classic definition is two quarters of negative GDP. Not all economic metrics need fit the bill.
July 29, 20224 yr 1 hour ago, toolg said: Thanks Biden! 31 minutes ago, toolg said: I got a secret for you... We live in a capitalist market economy. POTUS is not the King of the Capitalists. So we really shouldn't praise or blame Biden for market fluctuations... He has little to do with it. The Conservative narrative is built on lies.
July 29, 20224 yr 1 minute ago, DrPhilly said: The classic definition is two quarters of negative GDP. Not all economic metrics need fit the bill. NBER makes the call.
July 29, 20224 yr Just now, toolg said: NBER makes the call. If they make it based on the classic definition then it is a recession. We shall see...
July 29, 20224 yr 3 minutes ago, The_Omega said: That first tweet simply says the prices are falling and doesn't give credit to anyone for it.
July 29, 20224 yr 6 minutes ago, Bacarty2 said: How old are you? Legit question. 45, but my age is irrelevant to your fear mongering, BDS ridden posts. I think we can all agree that paying more for everything is fun. Retarded comment from Bacarty, check. I guess you missed the important part.... Was responding to the "fight" gif.
July 29, 20224 yr WSJ: Worker Pay and Benefits Rose 1.3% in Second Quarter Business and government employers spent 5.1% more on compensation for workers in the second quarter compared with the same period a year earlier, without adjusting for seasonality, the Labor Department said Friday. That marked the fastest annual pace on records back to 2001, eclipsing the 4.5% annual increase in the first quarter. Wages and benefits for civilian workers increased a seasonally adjusted 1.3% in the second quarter, a slight slowdown from record-high growth of 1.4% in the first quarter as employers pulled back on benefits this spring. Wages and salaries for private-sector workers accelerated, growing 1.6% in the spring versus 1.3% during the first three months of the year. The growth in compensation shows that employers continued to seek workers and increase wages in a historically tight job market, even as the economy shrunk in the second quarter. "The rest of the economy might be slowing down, but wages are speeding up,” said Nick Bunker, economist at jobs site Indeed. "Competition for workers remains fierce as employers have to keep bidding up wages for new hires.” A separate Commerce Department report Friday showed consumers boosted their seasonally adjusted spending by 1.1% in June, up from a revised 0.3% increase in May. Personal income rose by 0.6% last month. The report showed that inflation as measured by the Federal Reserve’s preferred gauge, the personal-consumption expenditures price index, rose 6.8% in June from the year before, up from the 6.3% increase in the 12 months through May.
July 29, 20224 yr Trying to redefine a recession is stupid, but do people in 2022 seriously not understand how wikipedia works?
July 29, 20224 yr 25 minutes ago, DaEagles4Life said: Neither side has any integrity anymore it's been updated. If you look at the earlier entry (from early July) it didn't even include the "two consecutive quarters of negative GDP" definition, which is more of a general shorthand definition anyway. But now it does include it.
July 29, 20224 yr 2 minutes ago, we_gotta_believe said: Trying to redefine a recession is stupid, but do people in 2022 seriously not understand how wikipedia works? Politically motivated Wikipedia page edit wars are nothing new. And in this case those who really really want to say a "Biden recession" is happening are the ones who are trying to change the earlier wikipedia page entry, which didn't appear to include it.
July 29, 20224 yr Just now, JohnSnowsHair said: Politically motivated Wikipedia page edit wars are nothing new. And in this case those who really really want to say a "Biden recession" is happening are the ones who are trying to change the earlier wikipedia page entry, which didn't appear to include it. If only there were a way to see the edit history of any entry... oh wait.
July 29, 20224 yr Posting for anyone who has been living under a rock and/or needs special help navigating the wilderness of the internet...
July 29, 20224 yr 3 minutes ago, we_gotta_believe said: Pretty standard right wing trick, where they play off of Republicans insecurities and constant need to be victims of a vast liberal conspiracy by spreading some bullsheet that's quickly debunked. But, in the process of debunking it, the left helps plant the word recession in everyone's head, which was the whole goal in the first place.
July 29, 20224 yr This, from wgb's twitter post, is July 14 vs now: What you saw was a basically an edit war live between BDS'ers eager to make sure the definitely included the shorthand "two consecutive quarters of negative GDP growth" so they could say "Biden's recession" and Biden apologists editing it back. At the end of the process the powers that be at Wikipedia stepped in and we now have an improved wikipedia page on what a Recession is, with multiple definitions given within context and with citations. That's as good as it gets.
July 29, 20224 yr I checked some of the history myself, the most critical aspect of the wikipedia entry (domestically speaking) is the reference to the NBER criteria, which was appropriately quoted and cited in the entry today, 2 years ago, and in every edit I've quickly skimmed in recent days. It's truly amazing how things like this become stories and fodder for those without the ability to figure things out on their own.
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