4 ms·

> Growth in the US has already contracted for two quarters in a row, a milestone that in many countries - though not the US - is considered a recession. this a

> Growth in the US has already contracted for two quarters in a row, a milestone that in many countries - though not the US - is considered a recession. this again :lol:

bee_rider 4y ago
It isn't a recession unless it is from the recesso region of France, otherwise it is just a sparkling downturn.
mc32 4y ago
Any other Chief executive and they would be getting roasted and hit in the news with Recession news and articles. But the current one for some reason, has less stickiness than "the Teflon Don." Imagine Bush (shudder) or Clinton or Obama or Trump not getting roasted with Recessionary news... They all would have been at the receiving end of the bad news.
- bern4444 4y ago
  At least with Clinton the budget was balanced and even ran at a surplus.
  - macintux 4y ago
    I was enraged when all hope of paying off the debt was cut off at its knees by the Bush tax cuts.
    - mc32 4y ago
      He was truly our worst president, despite Obama claiming they're friends --what a sell-out.
  - cplusplusfellow 4y ago
    Thanks to Newt Gingrich.
  - baryphonic 4y ago
    The "Clinton surplus" was an accounting gimmick where money stored in various government "trust funds" was loaned to the Treasury in exchange for Treasuries, but was counted as normal revenue. If "intragovernmental debt" were properly accounted for, Clinton never had a surplus (indeed, the national debt increased every year of his presidency, just like his predecessors and successors).
    - mediumiqsad 4y ago
  - astrange 4y ago
    No reason to want that in the absence of inflation. A country is not a household and a budget surplus is the same thing as the money supply getting smaller, which is bad business if the number of people in the world who want to use your currency is increasing.
- astrange 4y ago
  He's not in trouble for causing a recession cause he hasn't. The statement in the article is debatable even if you want to use a technical definition. Real GDI, which is supposed to be the same thing as real GDP, hasn't decreased: https://fred.stlouisfed.org/series/A261RX1Q020SBEA https://fred.stlouisfed.org/series/A261RX1Q020SBEA Which suggests dips in GDP are actually due to measuring it incorrectly since the economy is so unusual right now. Also, people dislike inflation more than they dislike the unemployment rate going up a little. That's because inflation hits everyone, while unemployment only applies to a few people. That's more or less why the Fed is trying to cause a minor recession in 2023.
  - mc32 4y ago
    He "hasn't" only because they (many economists and reporters) abandoned the de facto/practical definition which had been used in previous Recessions in favor of a more strict definition to define it away, or rather postpone the inevitable.
    - mediumiqsad 4y ago
    - astrange 4y ago
      In previous recessions they’d be reporting about mass job losses, but instead we have the lowest unemployment in 50 years. They have been reporting about high gas prices, which people care a lot more about than GDP/GDI.
- smt88 4y ago
  Biden hasn't done anything to cause a recession. His party has done the opposite, if anything (although that's complicated and debatable). The Fed, on the other hand, is trying to move toward recession, or at least lower employment, by raising interest rates. They see low inflation as being preferable to high employment and rising prices. There is no good outcome when global supply chains and investors have been shocked by a pandemic and then a major land war.
riffic 4y ago
all recessions are inevitable. It's a feature of the business cycle for a trough-shaped period of time to occur. https://en.wikipedia.org/wiki/Business_cycle https://en.wikipedia.org/wiki/Business_cycle
- wingworks 4y ago
  Ray Dalio does a great video on it too: https://www.youtube.com/watch?v=PHe0bXAIuk0 https://www.youtube.com/watch?v=PHe0bXAIuk0
  - riffic 4y ago
    really interesting! thank you for sharing.
- carlivar 4y ago
  Their severity can be lessened however by not printing utterly outrageous amounts of money in the upturns.
draw_down 4y ago
mediumiqsad 4y ago

> Growth in the US has already contracted for two quarters in a row, a milestone that in many countries - though not the US - is considered a recession. this again :lol:

bee_rider 4y ago

It isn't a recession unless it is from the recesso region of France, otherwise it is just a sparkling downturn.

mc32 4y ago

Any other Chief executive and they would be getting roasted and hit in the news with Recession news and articles. But the current one for some reason, has less stickiness than "the Teflon Don." Imagine Bush (shudder) or Clinton or Obama or Trump not getting roasted with Recessionary news... They all would have been at the receiving end of the bad news.

bern4444 4y ago
At least with Clinton the budget was balanced and even ran at a surplus.
- macintux 4y ago
  I was enraged when all hope of paying off the debt was cut off at its knees by the Bush tax cuts.
  - mc32 4y ago
    He was truly our worst president, despite Obama claiming they're friends --what a sell-out.
- cplusplusfellow 4y ago
  Thanks to Newt Gingrich.
- baryphonic 4y ago
  The "Clinton surplus" was an accounting gimmick where money stored in various government "trust funds" was loaned to the Treasury in exchange for Treasuries, but was counted as normal revenue. If "intragovernmental debt" were properly accounted for, Clinton never had a surplus (indeed, the national debt increased every year of his presidency, just like his predecessors and successors).
  - mediumiqsad 4y ago
- astrange 4y ago
  No reason to want that in the absence of inflation. A country is not a household and a budget surplus is the same thing as the money supply getting smaller, which is bad business if the number of people in the world who want to use your currency is increasing.
astrange 4y ago
He's not in trouble for causing a recession cause he hasn't. The statement in the article is debatable even if you want to use a technical definition. Real GDI, which is supposed to be the same thing as real GDP, hasn't decreased: https://fred.stlouisfed.org/series/A261RX1Q020SBEA https://fred.stlouisfed.org/series/A261RX1Q020SBEA Which suggests dips in GDP are actually due to measuring it incorrectly since the economy is so unusual right now. Also, people dislike inflation more than they dislike the unemployment rate going up a little. That's because inflation hits everyone, while unemployment only applies to a few people. That's more or less why the Fed is trying to cause a minor recession in 2023.
- mc32 4y ago
  He "hasn't" only because they (many economists and reporters) abandoned the de facto/practical definition which had been used in previous Recessions in favor of a more strict definition to define it away, or rather postpone the inevitable.
  - mediumiqsad 4y ago
  - astrange 4y ago
    In previous recessions they’d be reporting about mass job losses, but instead we have the lowest unemployment in 50 years. They have been reporting about high gas prices, which people care a lot more about than GDP/GDI.
smt88 4y ago
Biden hasn't done anything to cause a recession. His party has done the opposite, if anything (although that's complicated and debatable). The Fed, on the other hand, is trying to move toward recession, or at least lower employment, by raising interest rates. They see low inflation as being preferable to high employment and rising prices. There is no good outcome when global supply chains and investors have been shocked by a pandemic and then a major land war.

riffic 4y ago

all recessions are inevitable. It's a feature of the business cycle for a trough-shaped period of time to occur. https://en.wikipedia.org/wiki/Business_cycle https://en.wikipedia.org/wiki/Business_cycle

wingworks 4y ago
Ray Dalio does a great video on it too: https://www.youtube.com/watch?v=PHe0bXAIuk0 https://www.youtube.com/watch?v=PHe0bXAIuk0
- riffic 4y ago
  really interesting! thank you for sharing.
carlivar 4y ago
Their severity can be lessened however by not printing utterly outrageous amounts of money in the upturns.

draw_down 4y ago

mediumiqsad 4y ago