July 29, 20224 yr If you are going to Wikipedia to find out the definition of something, you are already wrong.
July 29, 20224 yr 4 hours 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. Nah the narrative is your socialism and austrian monetary policy is to blame which is zero percent lies
July 29, 20224 yr 2 hours ago, DaEagles4Life said: Neither side has any integrity anymore Theres the leftist semantics lies
July 29, 20224 yr 1 minute ago, ToastJenkins said: Theres the leftist semantics lies Can you be more specific? What semantic lies?
July 29, 20224 yr 5 minutes ago, we_gotta_believe said: Can you be more specific? What semantic lies? About the definition of recession obviously but you knew that are are just being intentionally obtuse to try and play some sort of semantic gotcha game. Its your only move
July 29, 20224 yr 15 minutes ago, ToastJenkins said: About the definition of recession obviously but you knew that are are just being intentionally obtuse to try and play some sort of semantic gotcha game. Its your only move the White House is clearly whistling past the graveyard on this recession talk, but the whole "a recession is defined as" nonsense is just that: semantic nonsense. two consecutive quarters of negative GDP growth correlates with recessions highly, but it doesn't mean one defines the other. it's a watered down metric meant to be simple and palatable, and largely accurate, but not definitive. that said, we're almost certain in a recession or will be soon, depending on how you want to classify it. but that becomes yet another semantic argument about what the line is that separates a recession from .. whatever you want to call a milder economic downturn. inflation is hurting people. wage inflation is helping, but disproportionately - the items whose prices have inflated the most are core staples for people that disproportionately effect those with less earning ability. politically, arguing over whether this "technically" a recession is stupid. if the white house was smart (HAH!) it would sidestep the question of a recession altogether and simply recognize the fact that Americans, especially those on the wrong side of the median income line, are being squeezed, and point to the solutions they're supporting to help alleviate that pain. the government can't really fix this, at least not quickly, but this white house would benefit by cutting out the bullcrap and just speaking plain.
July 29, 20224 yr Thats the problem though isn’t it? Their solutions are anything but. They are short sighted bandaids. The solutions are to let people work through the squeeze and think long term
July 29, 20224 yr This is all so dumb by the administration. Yes, technically the NBER is the one that officially declares a recession. Newsflash -- they often do that months and sometimes years after a recession has started. The colloquial definition of 2 consecutive negative GDP growth quarters is basically what everyone accepts as a real time measurement. Arguing over semantics - yeah, that's a winning electoral strategy.
July 29, 20224 yr 51 minutes ago, ToastJenkins said: Thats the problem though isn’t it? Their solutions are anything but. They are short sighted bandaids. The solutions are to let people work through the squeeze and think long term I honestly have no idea what the administration is proposing. I didn't expect anything more than a basic competence and mediocrity from Biden, and the challenges it's being tasked to deal with are frankly beyond them. (FWIW I think Trump would be performing far worse and deflecting blame in a manner that would further divide the nation, so it's still a net positive over the alternative by a long shot. But Biden is just not up to this moment.) Fortunately our economic engine is strong enough to muddle through crap political leadership and come out reasonably strong. But the Fed needs to get its act together and become the adults in the room they're supposed to be. They need to hold the line on rates and force Washington to pay for its bills or cut spending - or frankly both. Cheap money for too long has led to bad habits that must be broken. And higher rates should help bury MMT.
July 29, 20224 yr 1 hour ago, Bacarty2 said: You dont need to raise taxes when the inflation is taking care of it. And yet they're getting ready to raise taxes anyway.
July 29, 20224 yr 7 hours ago, we_gotta_believe said: A single day worth of sales to represent consumer sentiment in a sector over the past couple years? Mmmkay. Yes! That’s what an example is. And it’s not the past couple of years. More like the last 6-12 months. There is plenty of economic data that shows the consumer has tightened on spending recently. Prime Day is an example of this, where consumers delayed purchases to find sales.
July 29, 20224 yr 2 hours ago, ToastJenkins said: About the definition of recession obviously but you knew that are are just being intentionally obtuse to try and play some sort of semantic gotcha game. Its your only move There's an entire section about the definition, so you'll have to be more specific lest you want to come across as also having fallen for a right-wing media talking point that was easily debunked by literally going to the wikipedia entry yourself.
July 29, 20224 yr 7 minutes ago, TEW said: Yes! That’s what an example is. And it’s not the past couple of years. More like the last 6-12 months. There is plenty of economic data that shows the consumer has tightened on spending recently. Prime Day is an example of this, where consumers delayed purchases to find sales. Yeah and it's a terrible one given the overall sales numbers of said company over the last 6-12 months.
July 29, 20224 yr 10 minutes ago, we_gotta_believe said: Yeah and it's a terrible one given the overall sales numbers of said company over the last 6-12 months. I never brought up the sales numbers of the company. That’s a red herring you injected into the conversation.
July 29, 20224 yr 12 minutes ago, TEW said: I never brought up the sales numbers of the company. That’s a red herring you injected into the conversation. Using sales numbers over a longer and more representative time period instead of the sales of a single day is a red herring.
August 2, 20224 yr 10 hours ago, Eaglesfandan said: So $20 a gallon by Christmas? I was told it will hit 10 to 11 dollars by an extremely reliable source.
August 2, 20224 yr 44 minutes ago, Boogyman said: I was told it will hit 10 to 11 dollars by an extremely reliable source. I was told 12 by the new year!
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