Welcome to Our Forums. Once you've registered and logged in, you're primed to talk football, among other topics, with the sharpest and most experienced fantasy players on the internet.
Inflation is largely the cause of this recession. That was a political choice to keep pumping billions into an already overheated economy.
That an it’s Putin’s fault are the cornerstone of Biden’s answers to inflation/recession.
It doesn't matter whether we are technically in a recession or not. The only ones who care are investors placing forward-looking bets.
Private investment dropped by double digits, its worst showing since the COVID shutdown. And disposable personal income has now fallen for five straight quarters.
wut?
Technically, it's only a recession if it comes from the Recession region of France. This is just sparkling stagflation.
It's not "me." I was just quoting the source the guy provided.
That is the big counterpoint. We are definitely seeing unemployment move a bit, but not in major steps you usually see. Due to the velocity of mortgage rates we haven't seen the impact of the housing market coming to a standstill yet. I fear that is coming and we'll start to see a kick up in unemployment and that tends to kick off a lot of other sectors to reduce headcount.
Not that I want to see people out of jobs, but an uptick could be healthy. UI rate is like 2.8% in WI. Seems like everywhere I go there is someone complaining about long lines and no staff to help. Stores/restaurants closing early or limiting their hours. Lots of places need bodies.
I was wondering what was going on during Yellen's press conference today. She was asked if we were in recession which, IMO, correctly said not now but it's a possibility. Another reporter later asked why she just wouldn't say we're in a recession. She basically answered with what you wrote and she's 100% right. I lived through too many recessions and the precursor was always massive job loss before and at the first half or so until recovery.
Yellen should confer with IK, since he’s apparently the decider of what an official recession is.I was wondering what was going on during Yellen's press conference today. She was asked if we were in recession which, IMO, correctly said not now but it's a possibility. Another reporter later asked why she just wouldn't say we're in a recession. She basically answered with what you wrote and she's 100% right. I lived through too many recessions and the precursor was always massive job loss before and at the first half or so until recovery.
I would also like to throw out there that historically we never really know if we are in a bull/bear economy until we are well in it or finished with it.
The good news is that the Fed seems to be getting the results they are trying to achieve. Slowing growth to bring down inflation without millions losing their jobs. Again, without the hindsight of 20/20 we won't know if they are successful for some time.
Still waiting on mine. I deferred to tax time just to be safe. Filed correctly. Then the IRS changed it and took it away. Called them in March and they said our bad we'll fix it by June or July. Here we are a couple days from August and you can't even get on hold with the IRS anymore. They just tell you it's busy and hang up. I'm not going to see that Child Tax Credit for another 2 years probably.
I just got my 2020 tax return this April. Shockingly my 2021 return was processed and returned within weeks.
There's been very little debate as to what a recession is up until now. The only difference is an unpopular Democrat president that the media is eager to protect.
Part of mine was returned. The problem was they took $8k from me by saying my child tax credit was $0. If they did nothing at all it would have been better. They adjusted it and then said they would fix it. Still haven't.
…and much of the MSM falls right in line with this narrative…getting to the point where we will need a new dictionary because a lot of words seem to be changing meanings of late.
Well, this is a weird economy. Usually recessions don't involve a super-strong labor market (that's part of why we have the inflation rate that we have, of course), and people rightly care about the unemployment rate for reasons that have nothing to do with GDP, inflation, interest rates, stock prices, or any other metric that folks commonly use to track economic conditions. My guess is that most people would prefer our current economy -- with shrinking GDP and 3.6% unemployment -- to an economy with growing GDP and 7% unemployment. That's completely reasonable.
It’s more transfer of wealth from the poor to the rich and the laptop leftists here are totally OK with destroying the working class.
Tucker had a great segment showing how some current media outlets and experts who claim we aren't in a recession had previously defined a recession. Its propaganda at this point.
I think it's a lovely parting gift at the conclusion of your IRS audit. Definitely contact them first.
Of course, he's a commentator, not a news reporter. But showing cases where an organization says one thing and now says another is perfectly valid. Those aren't Tucker's words he reporting, after all.
I agree with all of this except that everybody is affected by inflation to some extent but not everybody is affected by high unemployment. If people want to call this a recession, of course they are technically correct but it's kind of an intentional recession because the fed is trying to slow down demand as a means of fighting inflation. I'm not sure how well it will work though.
Just finding it interesting that people complaining so much about the media turn to Tucker Carlson...or other youtube sources that are far worse.
It would be fine if they just came out and said, "Yes, we're technically in a recession, but the labor market is very strong and the recession is currently having a negligible effect on the American worker" but I don't think I've heard them say that yet.
I dont turn to Tucker Carlson, but his video from last night was promoted on my youtube homepage. I clicked and listen and thought he brought up a great point.
Overall? A lot. he is propaganda...an highly biased pusher of right wing opinion (and that is being pretty generous).
