Article

2022-07-28 Economy

BREAKING: GDP Shrank 0.9% in Q2, Marking Second Consecutive Quarter of U.S. Economy Contraction

Posted by DarthVader 2022-07-28 09:12|| || Front Page|| [14 views ] Top

#1 Watch in a month the "Unexpected revised downward" number to come out.

Posted by DarthVader 2022-07-28 09:13|| 2022-07-28 09:13|| Front Page Top

#2 If the 3rd quarter is negative the Whitehouse will call it the Roaring Twenties!

Posted by Airandee 2022-07-28 09:20|| 2022-07-28 09:20|| Front Page Top

#3 last week that the Biden administration, in an effort to get out in front of today’s poor economic news, took the liberty of redefining “recession.”

There! See? Problem solved! Just ;like the covid "vaccine".

Snark O'The Day

Posted by Bobby 2022-07-28 09:42|| 2022-07-28 09:42|| Front Page Top

#4 there will be two revisions to today's estimate

fairly often the final estimate is +/- 0.4%

very seldom is it more than +/- 0.6%

given the negative retail news, e.g., Walmart's quarterly results and projections, consumer confidence, Q3 is not looking good

Posted by Lord Garth 2022-07-28 09:54|| 2022-07-28 09:54|| Front Page Top

#5 Biden administration took the liberty of redefining “recession.”

It depends on what the meaning of 'two' is.

Posted by SteveS 2022-07-28 10:08|| 2022-07-28 10:08|| Front Page Top

#6

Will we hear the WH Press Sec. finally say the magic word Recession or not?

Question: Will inflation and the devaluation of the US $ be the way that the US Gov. pays off its $30.6 Trillion dollar National Debt? 🤪 Hell if we go hyper inflation we can wipeout the national debt and the DNC in 2 may be 3 years.

eg. 2022 1.00 US Dollar = 558,019.37 Venezuelan Bolívares (VEF)
vs.
1990 1.00 USD = 9.9 Venezuelan Bolívares. The Venezuelan Liberal Solicalist Democratic government created it's own hyperinflation by givining, giving and giving socialism for votes. The exchange rate was 6 million bolívars to the U.S. dollar. At one point. A wheel barrel tire was worth more than the wheel barrel filled with 1,0000 VEF notes.

Posted by NN2N1 2022-07-28 10:15|| 2022-07-28 10:15|| Front Page Top

#7 nn2n1

what does "DNC" mean in your comment

Posted by Lord Garth 2022-07-28 10:31|| 2022-07-28 10:31|| Front Page Top

#8 DNC = Democratic National Committee

Posted by Helmuth, Speaking for Whuger5773 2022-07-28 10:54|| 2022-07-28 10:54|| Front Page Top

#9 Not Da National Commies?

Posted by Procopius2k 2022-07-28 10:57|| 2022-07-28 10:57|| Front Page Top

#10 Build back broke: Republicans tear into Manchin deal with 'giant tax hikes' that will 'kill American jobs' in package with a 15% rate on billion-dollar companies, $369 billion on climate and $433 billion in new spending

Posted by Skidmark 2022-07-28 12:23|| 2022-07-28 12:23|| Front Page Top

#11 GOPe will be glad to leave these hikes in place when the chance to roll them back is available.

Posted by M. Murcek 2022-07-28 12:39|| 2022-07-28 12:39|| Front Page Top

#12 I don't understand how hyperinflation will wipe out the Democratic National Committee.

If the Dem Natl Comm. would be killed off by that so would the Rep Natl Comm. and lots of orgs that depend on donations.

Posted by Lord Garth 2022-07-28 19:16|| 2022-07-28 19:16|| Front Page Top