What is?

[djdilliodon!]

NBER doesn't define recession as a drop in GDP. Since our reaction to impending recession is to dump money into the economy, we'd ~never have recessions.

Business Cycle Dating Procedure: Frequently Asked Questions

www.nber.org

Look elsewhere, it’s very well known a drop in GDP over two quarters and no one spending money is a classic recession but having just one or both is now deemed not a recession (I guess they want to prepare it’s not a recession unless their economist say so). They literally changed that definition recently but still agree that you need all the things like the labor market and what businesses are doing to last a few months to be called a recession. 1 month of people not spending money isn’t a recession or have the issues of one. I wish we were in a recession already, everything would be cheaper cause no one would be spending money!

 

[RobGMN Premium Member]

I’m confused. The NBER says we were in a recession in 2020, but we weren’t?
By what standards are we saying the NBER got it wrong?

 

[Jimi77 Premium Member]

Look elsewhere, it’s very well known a drop in GDP over two quarters and no one spending money is a classic recession but having just one or both is now deemed not a recession (I guess they want to prepare it’s not a recession unless their economist say so). They literally changed that definition recently but still agree that you need all the things like the labor market and what businesses are doing to last a few months to be called a recession. 1 month of people not spending money isn’t a recession or have the issues of one. I wish we were in a recession already, everything would be cheaper cause no one would be spending money!

No, that definition has existed at least since the Bush Sr administration. I don't buy that most recent bout of inflation is due "overspending." NBER is calls the recession late, often times after the recession is over and will redefine the beginning and end dates for ~2 years trailing.

 

[Jimi77 Premium Member]

I’m confused. The NBER says we were in a recession in 2020, but we weren’t?
By what standards are we saying the NBER got it wrong?

By NBER's definition, clearly we had a decline in economic activity (aka recession) in 2020. Personally, I don't put that on Trump's plate, but clearly the economy recessed. Some people think recessions are negative GDP, but clearly that's wrong. For example, if GDP growth dropped from 5% per year to 1% to year, we'd call that a recession (or at least NBER would). For example, clearly we experienced a recession in 2001 after y2k, but we never went into negative GDP growth.

U.S. GDP Growth Rate 1961-2023

Annual percentage growth rate of GDP at market prices based on constant local currency. Aggregates are based on constant 2010 U.S. dollars. GDP is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the...

www.macrotrends.net

 

[djdilliodon!]

No, that definition has existed at least since the Bush Sr administration. I don't buy that most recent bout of inflation is due "overspending." NBER is calls the recession late, often times after the recession is over and will redefine the beginning and end dates for ~2 years trailing.

So they are deeming it a recession due to covid and the government willingly shutting down the economy? News flash what the heck did they think would happen . I find it entertaining how they said “should be classified as a recession” .

Let’s go back in time for a moment to 2007-2009. Unemployment was at 10%, no one was spending money, 401k’s went into the toilet, the stock market did too, people lost their houses, it was a total disaster. That is the kind of recession people care about. Not a blip in spending in a month or a pandemic were caution was used for a short period of time to see what the heck was going on. Also remember, NBER even says why they don’t accept the 2 quarter definition, this is just this organization but let’s be real, a 2 quarter decline in GDP isn’t the end all be all either. You need a multitude of factors and I’d say all of them have to have an impact on the majority of people. I think it’s safe to say the government not knowing how covid would affect the economy became very paranoid of a recession like 2007-2009 and that’s why covid relief was born (well part of it). From that there was $280 plus billion stolen/scammed and another $120 billion plus misspent or wasted. I think that “free” money may have played a part in the inflation we have now.

 

[Bobbytwonames 5,000+ posts]

“The Food and Drug Administration (FDA) first granted emergency use authorization to the Pfizer–BioNTech vaccine on December 10, 2020,[6]and mass vaccinations began four days later.”

COVID-19 vaccination in the United States - Wikipedia

en.m.wikipedia.org

Trump got covid before the vaccines were even available, and Trump got covid earlier on, which means he might’ve gotten a more severe variant.

Biden 'continues to feel well' after testing positive for COVID-19 again: Doctor

President Joe Biden's antigen test came back positive late Saturday morning, White House physician Dr. Kevin O'Connor said.

abcnews.go.com

Notice how Biden got rebound covid after having covid initially, despite being vaccinated multiple times, which isn’t surprising, because the vaccines lower your immunity to covid/damage the immune system. Trump caught covid once, and he didn’t seem to get it again, because natural immunity is superior. It doesn’t matter if Biden gets covid, anyways, because he’s not running the White House, lol. Biden doesn’t have a beat to skip, even in the best of his health.

Trump got vaccinated. Look it up.

 

[Bobbytwonames 5,000+ posts]

Mask up or you may have to face a less than 1% chance of death

Would you mask up if you had a 1% chance of getting AIDS?

 

[Bobbytwonames 5,000+ posts]

I warn people about covid and vaccines and bioweapons and tyrannical world gov measures, etc., out of selfishness, not because I'm virtue signaling about doing a greater good for people. The more I warn people about what has been done and what is coming, the better chances of survival I feel I have. I don't do this to feel good about myself; I do it, because I think it helps my own chances of survival.

If you are very sick do you go get medical help? Do you follow the medical professionals advice? Just curious.

 

[Bobbytwonames 5,000+ posts]

“The subcommittee has found that Fauci, with the help of then-National Institutes of Health Director Francis Collins and a cadre of willing virologists, “employed fatally flawed science” to “avoid blaming China for the COVID-19 pandemic.””

Support Us - Slay News

If you value independent journalism, please consider supporting Slay News with a donation.

slaynews.com

Then Trump should've known this and fired him. He didn't. You act like the United States should've just ignored the virus altogether like it never existed. Is that what you think? Your boy Trump did tell everybody that it would disappear over 40 times. You apparently believed him.

 

[djdilliodon!]

Would you mask up if you had a 1% chance of getting AIDS?

You mean HIV

 

[Bobbytwonames 5,000+ posts]

You mean HIV

Sure. Would you mask up if you had a 1% chance of getting HIV through the air?

 

[Jimi77 Premium Member]

Sure. Would you mask up if you had a 1% chance of getting HIV through the air?

Back in the 80s-90s - no doubt I'd mask up.

 

[Jimi77 Premium Member]

So they are deeming it a recession due to covid and the government willingly shutting down the economy? News flash what the heck did they think would happen . I find it entertaining how they said “should be classified as a recession” .

Let’s go back in time for a moment to 2007-2009. Unemployment was at 10%, no one was spending money, 401k’s went into the toilet, the stock market did too, people lost their houses, it was a total disaster. That is the kind of recession people care about. Not a blip in spending in a month or a pandemic were caution was used for a short period of time to see what the heck was going on. Also remember, NBER even says why they don’t accept the 2 quarter definition, this is just this organization but let’s be real, a 2 quarter decline in GDP isn’t the end all be all either. You need a multitude of factors and I’d say all of them have to have an impact on the majority of people. I think it’s safe to say the government not knowing how covid would affect the economy became very paranoid of a recession like 2007-2009 and that’s why covid relief was born (well part of it). From that there was $280 plus billion stolen/scammed and another $120 billion plus misspent or wasted. I think that “free” money may have played a part in the inflation we have now.

A recession is a slow down in economic activity. Could be triggered by inflation, war, market panic, market adjustment or pandemic. Clearly pumping money into the economy would eventually create inflation.

 

[ThxOne Premium Member]

Precisely.

One more joke over your head.

Exactly. You say he tells it “like it is”, then you asked why he would know what “it is”.
He didn’t.

He tells it like it is about politicians. I really do think you are allergic to common sense and comprehension. You're reading skills are horrible.

Yet I’ve demonstrated I know more than you.

Just because you talk more doesn't mean you know more.

You didn’t give the list of the negatives about Biden.
Still waiting.

I never said I was making a list. I asked you to list some negative things Biden has done. You are just proving my point. You are one sided and only want to put others down.

You going to tell us who raised you this poorly or what?

 

[ThxOne Premium Member]

A recession is a slow down in economic activity. Could be triggered by inflation, war, market panic, market adjustment or pandemic. Clearly pumping money into the economy would eventually create inflation.

What about pumping money into OTHER countries? (Ukraine)