imagine walking around town employed and everyone you meet is unemployed. is this what RETCH feels like
I agree with this view. If Q2 GDP prints positive or barely negative, then the Biden administration is objectively justified in pumping the brakes on declaring a recession. On the other hand, if Q2 GDP prints significantly negative, say -1% real growth, then the Biden admin will look a bit silly trying to argue it’s not a recession.
In the end, trying to delay the proclamation of recession until after the midterms isn’t significant in actual economic terms. A recession, whenever it may become official, is necessary in my view to tame the current level of inflation, and probably the recession will need to be substantial to accomplish this.
RNN apparently.
I would rather have the current inflation environment and low unemployment than high unemployment and stable prices. We shouldn’t stabilize prices by destroying people’s ability to buy things. The higher prices in themselves limit people’s ability to buy things and create their own negative feedback loop. Give it time to play out. We’re so vain in that we think we have control over these situations. Control is such an illusion.
I agree with your first two sentences, for a limited time. I am concerned that, instead of a negative feedback loop we get a positive feedback loop. I think either congress or the fed has the power to stop that. Unfortunately, the tools the Fed has are likely to lead to unemployment. I’d rather have temporary unemployment than permanent inflation.
Clearly. What reference am I missing?
State Farm employees wear their badge like a medal in Bloomington to make the plebs aware of their non-SF status.
only to realize there are no non-state-farm people in Bloomington
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You don’t already??
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You missed it, because it was not used correctly. And possibly subversively.
Hmmm - probably time for me to reread that one (I think I read it already but I’m not about remembering things.)
IFYP
The Thought Police are on their way…
Meh, not too scared of them. Now if the Fashion Police are coming i am probably SOL.
Ask George HW Bush how well it goes over to get all technical about a not-yet-but-soon-to-be-declared recession.
Q2 GDP prints at -0.9%, much worse than expected, obliterating any hope of the Biden admin effectively gaslighting the public. This is consecutive quarters of significantly declining economic output. Inventory investment, housing investment, government spending, personal savings, and business investment all declined while consumer spending continues to slow. Case seemingly closed.
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lolololol
I laughed too, but I’m just reporting the facts.
Economists surveyed by Bloomberg expected data to show the U.S. economy grew at an annualized pace of 0.4% last quarter, according to consensus estimates.
lolol indeed