It's official - Biden has thrown us into a recession

Oldschool1964

Offensive Coordinator
Gold Member
Jun 27, 2009
8,397
7,323
113
116
Your mom's house
Keep riding this President's big balls. His policies have brought forth a punishment for the poorest in society. He doesn't care about minorities, LGBTQ, the poor, etc. He wants to get PAID. Crony capitalism at its best. Biden brought back his mentor's "Great Recession", because that's all Democrats know how to do - destroy. Trump's policies, hate him or hate them, put people back to work and our economy was roaring through his "magic wand". Now, Biden takes < one year to dismantle everything Trump worked for.

Inflation jumps to 5% through April in the quickest rise since the Great Recession​

44059437-9672595-The_12_month_price_change_of_all_items_in_selected_categories_is-a-19_1623332423679.jpg


 

zar45

All-American
Gold Member
Jun 13, 2016
4,705
11,774
113
Keep riding this President's big balls. His policies have brought forth a punishment for the poorest in society. He doesn't care about minorities, LGBTQ, the poor, etc. He wants to get PAID. Crony capitalism at its best. Biden brought back his mentor's "Great Recession", because that's all Democrats know how to do - destroy. Trump's policies, hate him or hate them, put people back to work and our economy was roaring through his "magic wand". Now, Biden takes < one year to dismantle everything Trump worked for.

Inflation jumps to 5% through April in the quickest rise since the Great Recession​

44059437-9672595-The_12_month_price_change_of_all_items_in_selected_categories_is-a-19_1623332423679.jpg


Do you know what a recession is?
 

Oldschool1964

Offensive Coordinator
Gold Member
Jun 27, 2009
8,397
7,323
113
116
Your mom's house
Do you know what a recession is?
The term recession isn't well-defined, but it's generally understood to be backward-looking, and shows consecutive quarters of negative growth. You can never know if you're in a recession because you must gather the statistics afterward to determine if you were in a recession at the time.

Why? What's your point?
 

nelsonj22

Nebraska Football Hall of Fame
Gold Member
Sep 27, 2014
19,248
20,253
113
The term recession isn't well-defined, but it's generally understood to be backward-looking, and shows consecutive quarters of negative growth. You can never know if you're in a recession because you must gather the statistics afterward to determine if you were in a recession at the time.

Why? What's your point?
So by definition 2020 was a recession?
 
  • Like
Reactions: stevehammer

scopeandtime

Nebraska Football Hall of Fame
Gold Member
Jul 3, 2016
18,450
32,573
113
The term recession isn't well-defined, but it's generally understood to be backward-looking, and shows consecutive quarters of negative growth. You can never know if you're in a recession because you must gather the statistics afterward to determine if you were in a recession at the time.

Why? What's your point?
This is good.
 

Hardlyboy

Offensive Coordinator
Gold Member
Jan 26, 2011
8,400
13,056
113
The term recession isn't well-defined, but it's generally understood to be backward-looking, and shows consecutive quarters of negative growth. You can never know if you're in a recession because you must gather the statistics afterward to determine if you were in a recession at the time.

Why? What's your point?
Q1 2021 GDP had significant growth. So your prediction is Q2-3 will both be declining?
 
  • Like
Reactions: nelsonj22

Oldschool1964

Offensive Coordinator
Gold Member
Jun 27, 2009
8,397
7,323
113
116
Your mom's house
So by definition 2020 was a recession?
You going to pay me to do your homework for you?

 
  • Haha
Reactions: nelsonj22

nelsonj22

Nebraska Football Hall of Fame
Gold Member
Sep 27, 2014
19,248
20,253
113
You going to pay me to do your homework for you?

Derp I ask about 2020 and you link shit that doesn't have 2020 stats in it 🤦‍♂️
 
  • Like
Reactions: stevehammer

zar45

All-American
Gold Member
Jun 13, 2016
4,705
11,774
113
The term recession isn't well-defined, but it's generally understood to be backward-looking, and shows consecutive quarters of negative growth. You can never know if you're in a recession because you must gather the statistics afterward to determine if you were in a recession at the time.

Why? What's your point?

Oh, so it's not official?
 

Oldschool1964

Offensive Coordinator
Gold Member
Jun 27, 2009
8,397
7,323
113
116
Your mom's house
Derp I ask about 2020 and you link shit that doesn't have 2020 stats in it 🤦‍♂️
HoLeeShit.

Here you go, school bully. There was a great, easy to use chart making utility right in the middle of the page where you could have entered in the exact information you wanted and generated it for yourself. Lemme ask you this - did someone else take those tests for you when you "earned" those 3 licenses??


2021-06-10_11-10-04.png
 

zar45

All-American
Gold Member
Jun 13, 2016
4,705
11,774
113
There's no official designation that I know of. It's a term for a generally accepted metric. Sort of like "I'm broke". Broke to you is different than MC Hammer.
For most official purposes it's consecutive quarters of negative growth.

It's far from a vague term like "I'm broke".
 
  • Like
Reactions: nelsonj22

Oldschool1964

Offensive Coordinator
Gold Member
Jun 27, 2009
8,397
7,323
113
116
Your mom's house
For most official purposes it's consecutive quarters of negative growth.

It's far from a vague term like "I'm broke".
The problem is, when it comes to politics, one side will use GDP as the metric, when the other side will use other indicators as the metric. One side will point to a booming market, or low unemployment, or trade deficits, or income inequality, or rising salaries as metrics to show that an economy is in or isn't in a recession. You know that.

You only have to look north on this board to show that people use household net worth as their metric when they're protecting Biden.
 

zar45

All-American
Gold Member
Jun 13, 2016
4,705
11,774
113
The problem is, when it comes to politics, one side will use GDP as the metric, when the other side will use other indicators as the metric. One side will point to a booming market, or low unemployment, or trade deficits, or income inequality, or rising salaries as metrics to show that an economy is in or isn't in a recession. You know that.

You only have to look north on this board to show that people use household net worth as their metric when they're protecting Biden.

No. No that's not how this works. Consecutive quarters of negative growth is pretty universally accepted as a recession.
 
  • Like
Reactions: nelsonj22

Oldschool1964

Offensive Coordinator
Gold Member
Jun 27, 2009
8,397
7,323
113
116
Your mom's house
No. No that's not how this works. Consecutive quarters of negative growth is pretty universally accepted as a recession.
I'm in agreement, but you can't say "wait 6 months and we'll see if my opponent made this recession". Also, there are "leading indicators" to recessions that signal when you're in a recession. GDP is influenced by these indicators, whether they be regulatory, economic, policy-dependent, public health/pandemic-related, etc.
 

stevehammer

Graduate Assistant
Gold Member
Sep 18, 2001
5,719
6,065
113
Biden has been in office less than 5 months. Nothing he has done has had a significant effect yet.

How retarded are you Trumpies? Good Lord it must suck going through life not having any clue as to what is going on and how things work.

Republicans trash the economy, and Democrats have to come in and fix it. This happens every time.
 

zar45

All-American
Gold Member
Jun 13, 2016
4,705
11,774
113
I'm in agreement, but you can't say "wait 6 months and we'll see if my opponent made this recession". Also, there are "leading indicators" to recessions that signal when you're in a recession. GDP is influenced by these indicators, whether they be regulatory, economic, policy-dependent, public health/pandemic-related, etc.
1. Yeild curve doesn't indicate impending recession
2. Sahm rule doesn't indicate recession
3. S and P 500 doesn't indicate recession
4. Average weekly hours manufacturing doesn't indicate recession
5. 10 year yeild doesn't indicate impending recession
6. Initial claims doesn't indicate recession
7. New orders goods and materials doesn't indicate recession
8. Building permits level doesn't indicate recession
9. Employment doesn't indicate impending recession
 

Oldschool1964

Offensive Coordinator
Gold Member
Jun 27, 2009
8,397
7,323
113
116
Your mom's house
1. Yeild curve doesn't indicate impending recession
2. Sahm rule doesn't indicate recession
3. S and P 500 doesn't indicate recession
4. Average weekly hours manufacturing doesn't indicate recession
5. 10 year yeild doesn't indicate impending recession
6. Initial claims doesn't indicate recession
7. New orders goods and materials doesn't indicate recession
8. Building permits level doesn't indicate recession
9. Employment doesn't indicate impending recession
No guarantees by any one of them, but any one or more of those CAN be a leading indicator of recession. You never know until you look backwards at it.
 

Oldschool1964

Offensive Coordinator
Gold Member
Jun 27, 2009
8,397
7,323
113
116
Your mom's house

Latest posts