He takes shots at everyone. Like I said, this economy must be impacting him greatly. I wish he would get help.
US Economy in Recession? 2nd Quarter GDP DOWN 0.9%
- Thread starter dandh
- Start date
That's just idiotic. 5000 closed banks and 25% unemployment forced the government to spend. He had no choice and what he did was too little too late. His approach and preference was to stay out of things and let the market correct itself. He also signed disastrous tariffs into law. All of those things were complete failures of leadership.
You've never been able to post anything objective that supports your position. You're an ignorant hack.
I may have screwed up. You weren't agreeing with torbee? If you weren't agreeing with him, my apologies, and I'll go back and delete my post. If you were agreeing with him, then yeah, It's a shot at you. Because he was flat out wrong.
You have become unhinged lately taking swings at everyone, even those who are agreeing with you like my boy @luvmyhawks. Maybe take a breather from here for a few days. Can't hurt. Lord knows I've done it before.
I wasn't agreeing or disagreeing with anyone. Just trying to make a little joke, which clearly wasn't very funny, at all. I never have been very good at being funny.
I agree that there by the technical standards of minimum criteria, this is a recession. The funny thing people don't get is the first two quarters are over. Ergo, this "recession" could already be over. Now, we can debate on semantics of a recession and maybe this isn't it, but it's possible (not saying it is for sure) that the worst is over.Nope. Sorry bro. I am officially declaring myself as the person that officially declares if we are in a recession and I say we are simply so we can end the recession talk and start moving forward. So there.
I think the word recession for many people conjurs up images of 2008 and understandably so. However, most recessions really aren't that bad and are not widespread events. 95% of people get through them just fine.
Also, is your official declaration of recession declarer notarized? If not, you have foreited your position and I must step in ... for the good of the people of course!
LOL. You're working way too hard at this angle. I may have misunderstood him, but we'll see what he says. If I misread his intent I'm happy to apologize and delete that post. But I'm not going away, so give it a rest.
Treasury Secretary Janet Yellen said on Thursday that a semantics debate over whether or not the U.S. economy is in a recession should be avoided as households grapple with inflation and high gas prices.
Why it matters: In recent days, Biden administration officials have gone to great lengths to stress that the nation has not entered a recession — an argument complicated by back-to-back quarters of negative growth, a common (but unofficial) rule of thumb for a recession.
www.axios.com
Why it matters: In recent days, Biden administration officials have gone to great lengths to stress that the nation has not entered a recession — an argument complicated by back-to-back quarters of negative growth, a common (but unofficial) rule of thumb for a recession.
- But the debate may be moot for everyday Americans pinched by decades-high inflation, who might not care either way whether it's officially a recession or not.
- Yellen said that people sometimes use the word recession to refer to "bad inflation," noting that household discomfort doesn't stem from the labor market, which so far, has remained solid.
- Still Yellen emphasized that the economy may be slowing but not in a way that's consistent with a recession, noting that would call for a "broad-based weakening of the economy."
- "That's not what we're seeing right now," Yellen said.
- The report also showed a slowdown in consumer spending, housing and business investment.
Yellen: We should avoid recession "semantic battle"
In recent days, the White House has gone to great lengths to stress that the nation has not entered a recession.
www.axios.com
Well I wouldn’t be starting a thread like I was giddy about it. I wouldn’t be blaming it on the president either. Because thinking.
Do you think this thread was started due to being giddy? If so, what in the OP suggests that?
Ugh. They are different. Laissez-faire is not all inclusive. They are protectionist - another of his failed strategies.
SMFH
It's not misunderstanding. You yourself, admitted, you didn't know what he meant. Yet you assumed (like an ass) and you jumped down his throat. This is after you called another poster a twit.
Be better.
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Sorry bro. My assistant is a notary and she says I am good to go. You are just going to have to wait your turn.
As far as the rest of your post, I agree. I wouldn't be surprised if we see a little uptick in unemployment over the next couple months, but I believe we will also see inflation come down during that time. We may see another month of negative GDP, but it is a little to early to tell right now.
Recessions are a normal part of the business cycle and are overall, healthy for the markets and the economy. This one will prove no different, IMO.
I have said for about a month now that I am, and remain optimistic about the markets over the next 6-12 months.
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eh, no worries. Just caught me by surprise as I wasn't directing anything towards you at all. But, alas, I realize you are fully engaged in a heated argument with Riley, of which I have been in many. Best to walk away from that one.
Side note. Nice little rally in the markets the last week+. Especially the last couple days. S and P approaching 4100 for the first time in a couple months. I will take it. Apple just beat on earnings as well, which is always a good sign for the markets.
Just stop it. Your ass is still chapped from earlier in the thread and you're trying this passive-aggressive approach to assuage your butthurt. Grow up.
I did. I wouldn’t be starting a thread. Like Jim Jordan started on Twitter about it. To deflect from the evil bs they do. But any chance you have to both sides things…you do. Weird how it’s generally the Democrats where you do this. Seems kind of Republican.
Actually, I had just responded to Torbee because he had inaccurately claimed NBER had said there was no recession, when it hadn't said anything at all. I misunderstood your post as support for his claim. All while Riley was doing his thing. Thanks for the follow-up.
Laissez faire is a policy framework.
Economic interventionism is another policy framework.
Do you think a tariff falls under:
A) laissez faire
or
B) economic interventionism
Of course you were. Let me run to the board and start a thread on a recession…that Republicans are hoping for…because it can be used to attack Biden. Don’t act for a second like you weren’t excited to get on here and post.
I have a strong interest in economics. My op is balanced and actually says we don't know whether it's a recession yet. Nothing giddy about it. Sounds to me like you really don't like it when anyone says anything that might not be favorable to the current administration.
I love semantic battles so no Janet, I will not be avoiding them.Treasury Secretary Janet Yellen said on Thursday that a semantics debate over whether or not the U.S. economy is in a recession should be avoided as households grapple with inflation and high gas prices.
Why it matters: In recent days, Biden administration officials have gone to great lengths to stress that the nation has not entered a recession — an argument complicated by back-to-back quarters of negative growth, a common (but unofficial) rule of thumb for a recession.
What she's saying: "We should avoid a semantic battle," Yellen said at a press conference. "What we can constructively do is talk about, 'what is the state of the economy?'"
- But the debate may be moot for everyday Americans pinched by decades-high inflation, who might not care either way whether it's officially a recession or not.
The big picture: Yellen pointed out the economy's contraction in the second quarter was driven by a change in business inventories, a volatile component of GDP that knocked more than 2 percentage points off headline growth.
- Yellen said that people sometimes use the word recession to refer to "bad inflation," noting that household discomfort doesn't stem from the labor market, which so far, has remained solid.
- Still Yellen emphasized that the economy may be slowing but not in a way that's consistent with a recession, noting that would call for a "broad-based weakening of the economy."
- "That's not what we're seeing right now," Yellen said.
- The report also showed a slowdown in consumer spending, housing and business investment.
Yellen: We should avoid recession "semantic battle"
In recent days, the White House has gone to great lengths to stress that the nation has not entered a recession.
Chapped from what?
You and I agree on the technical definition of a recession. In fact, you, as a Con, think we are not in a recession. I, as a liberal, think we might be.
If anything, we should take a moment to realize the irony of this war of words in which we are engaged.
I am not a conservative, although I agree with some arguments they make. I find it interesting you identify as a liberal. I would have guessed you're a progressive.
LOL - it is not only a policy framework, it is also an approach. And no one said every decision Hoover made was based on his laissez-faire preferences. JFC. You can only see things in black and white, absolutely no ability to understand context or nuance.
Well I used to be a card carrying Republican. However, I would identify as a moderate liberal.
You won’t answer the question.
As if your evasion changes anything.
We both know why you won’t answer the question.
Because you’re a fraud and you proved yourself wrong already in this thread.
Answering that question honestly just punctuates it.
So you hide from it and where the answer invariably takes you.
And I used to be a registered Democrat. Quite militant in my youth. Was a delegate for Ted Kennedy at the state convention in 1980. Now I'm an independent who identifies as a NOTA.
Steve Jobs is another who used the laissez-faire approach. What policy what he driving? Fact is, he wasn't - it was a management style for him.
Despite the questions you asked being stupid and irrelevant I will give you an answer, but only because you beg.
A tariff is economic interventionism as it attempts to alter the economic activity of ANOTHER COUNTRY. By engaging in this activity Hoover caused more severe economic damage in OUR CONTRY. He would have been much better off holding to his laissez-faire tendencies than engaging in this disastrous policy.
What you don't seem to understand is that an approach or philosophy does not mean the every single decision follows that approach. Again, you have no ability to understand context or nuance.
There are numerous accounts of Hoover following a laissez-faire approach - it was his preference and he followed it for far too long as President. Once he did intervene he did it disastrously. History bears this out.
Oddly, you’ve only cited evidence of the opposite:
Add to that Hoover’s documented response to the Depression of ‘20-21 and repeated support for the creation of public works programs as a federal response to the business cycle and his unprecedented response to the Great Depression.
What was the laissez faire thing Hoover did?
Not the tariff.
Not the public works
Not the increased federal spending in real and nominal terms.
Not the increased federal debt.
What do you point to as a fact to buttress the opinion that contradicts the facts presented in this thread?
Indeed.com?
Dan, you're a POS. Quit with the fear mongering BS. Dumb analogy about breast cancer but BAU from your type
He asked if what was happening now hapunder a Republican president if you would call it a recession.
You said you wouldn’t start a thread about it.
How is that answering the question??
