the staff of the Ridgewood blog
Washington DC, its official ,the U.S. economy contracted for the second straight quarter from April to June, hitting a widely accepted rule of thumb for a recession, the Bureau of Economic Analysis reported Thursday.
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A recession is a significant, widespread, and prolonged downturn in economic activity. Because recessions often last six months or more, one popular rule of thumb is that two consecutive quarters of decline in a country’s Gross Domestic Product (GDP) constitute a recession.
Gross domestic product fell 0.9% at an annualized pace for the period, according to the advance estimate. That follows a 1.6% decline in the first quarter and was worse than the Dow Jones estimate for a gain of 0.3%.
Yea, but no more mean tweets, so it’s all good.
Who needs bloated retirement and brokerage accounts or low priced gas anyway?
Biden and his WH team are denying there’s a recession, despite the standard definition. Imagine DT pulling a stunt like that? The lame street media would be having conniption fits.
Instead, they go along with it and reinforce the lie in their “reporting”
Makes sense. They can’t define a “woman” and are convinced men can get pregnant, describe riots as a “peaceful protest”, so denying a recession is just business as usual
Where did all the biden/harris lawn signs go?
We must reimagine the word recession
Remember the financial crash of 2008? Despite the cause mostly being the Dems pushing home ownership on the dysfunctional. Somehow, the mainstream media and Dem politicos managed to thread the needle and blame it all on Bush. After all, it happened “under his watch”. Now when Obama took back over, he was able to manage a fairly good-looking recovery, which when you think about it, it’s easy to start from the bottom. His recovery was pretty average and it wasn’t until DT took over that we saw the huge gains, mostly due to more oil production, lowering the corporate tax rate, and eliminating regulations. Now we have Bungler Joe. Isn’t it his watch now? How come the MSM is always able to shape-shift the news?
Remember the financial crash of 2008? Despite the cause mostly being the Dems pushing home ownership on the dysfunctional. Somehow, the mainstream media and Dem politicos managed to thread the needle and blame it all on Bush and evil bankers. After all, it happened “under his watch”. Now when Obama took back over, he was able to manage a fairly good-looking recovery, which when you think about it, it’s easy to start from the bottom. The charts look great when you’re starting from the bottom. His recovery was pretty average and it wasn’t until DT took over that we saw the huge gains, mostly due to more oil production, lowering the corporate tax rate, and eliminating regulations. Now we have Bungler Joe. Isn’t it his watch now? How come the MSM is always able to shape-shift the news?
Sleepy Joe has the Covid again.