{"id":128297,"date":"2022-07-25T11:06:05","date_gmt":"2022-07-25T15:06:05","guid":{"rendered":"https:\/\/valorguardians.com\/blog\/?p=128297"},"modified":"2022-07-25T18:35:28","modified_gmt":"2022-07-25T22:35:28","slug":"when-a-recession-is-not-a-recession","status":"publish","type":"post","link":"https:\/\/www.azuse.cloud\/?p=128297","title":{"rendered":"When a Recession is Not a Recession"},"content":{"rendered":"

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\n“I did that.”<\/em><\/p>\n

An economic recession is a period of reduced economic activity, as one would imagine. It has been defined since forever as when the economic activities of a nation undergo what is euphemistically called “negative growth” for two or more quarters in a row. Here in the United States, the National Bureau of Economic Research (NBER) is responsible for identifying the severity and start and end dates of recessions, when and if.<\/p>\n

PINO Joe’s Handlers are getting ahead of looming GDP estimates of a 2.1% decline in the second quarter, which with the first quarter decline meets the textbook definition of an economic recession. A rational administration would admit the compounding economic errors made and take steps to recover from the downturn.<\/p>\n

PINO Joe’s Handlers instead redefine a recession.<\/p>\n

White House says a second consecutive quarter of negative GDP ‘unlikely’ to be indicative of recession<\/h3>\n

A Republican National Committee spokesperson said that this further underscores how ‘out of touch’ President Biden is with Americans<\/em><\/strong><\/p>\n

By Adam Sabes FOXBusiness<\/p>\n

The White House Council of Economic Advisers said on July 21 that even if Friday’s advance estimate of the country’s GDP is negative, it’s still “unlikely” to be indicative that the country is in a recession.<\/p>\n

Recessions refer to two consecutive quarters of negative economic growth.<\/p>\n

In a blog post, the council of economic advisers says that two consecutive quarters of falling GDP doesn’t mean the country is in a recession.<\/p>\n

“What is a recession? While some maintain that two consecutive quarters of falling real GDP constitute a recession, that is neither the official definition nor the way economists evaluate the state of the business cycle,” the blog post states.<\/p>\n

Citing figures from the National Bureau of Economic Research, the post states that their “recession indicator variables” have “exhibited strong growth in the U.S. economy since the start of the pandemic, and have continued to expand through the first half of this year.”<\/p>\n

Even if the Bureau of Economic Analysis’ advance estimate of the second quarter GDP shows a negative number, the blog post says the country is likely not in a recession.<\/p>\n

“Based on these data, it is unlikely that the decline in GDP in the first quarter of this year \u2014 even if followed by another GDP decline in the second quarter \u2014 indicates a recession,” the post states.<\/p><\/blockquote>\n

Fox News<\/a><\/p>\n

So who ya gonna believe, me or yer own lyin’ eyes? This Administration has achieved caricature status, low comedy. SecTreas Yellen said the economy is not in a recession but is in a “period of transition” where “growth is slowing.”<\/p>\n

We’ve not been fooled, and are no longer amused.<\/p>\n