Quote (Sioux @ Jul 29 2022 11:17pm)

Quote (Mondain @ Jul 29 2022 08:38pm)

Quote (Sioux @ Jul 29 2022 11:47pm)

So the nice thing about wikipedia is you can roll it back. Look at what the page looked like a month ago and find "a recession is 2 consecutive quarters of negative gdp growth". Hint you can't.

Quote (Mondain @ Jul 29 2022 08:49pm)

listen up fathersioux we're in a recession in the united states. I don't want it to be this way but it is.

You clearly don't live in the USA so it may not be a recession in your country.

Quote

In a 1974 The New York Times article, Commissioner of the Bureau of Labor Statistics Julius Shiskin suggested several rules of thumb for defining a recession, one of which was two consecutive quarters of negative GDP growth.[6] In time, the other rules of thumb were forgotten. Some economists prefer a definition of a 1.5-2 percentage points rise in unemployment within 12 months.[7]

In the United States, the Business Cycle Dating Committee of the National Bureau of Economic Research (NBER) is generally seen as the authority for dating US recessions. The NBER, a private economic research organization, defines an economic recession as: "a significant decline in economic activity spread across the economy, lasting more than a few months, normally visible in real GDP, real income, employment, industrial production, and wholesale-retail sales".[8] Almost universally, academics, economists, policy makers, and businesses refer to the determination by the NBER for the precise dating of a recession's onset and end.

In the United Kingdom, recessions are generally defined as two consecutive quarters of negative economic growth, as measured by the seasonal adjusted quarter-on-quarter figures for real GDP.[4][5] The European Union does not use this definition, instead using a range of other criteria such as employment rate and the depth of decline in economic activity.[9]

Quote (Sioux @ Jul 29 2022 11:51pm)

So what negative impacts have you had in your life indicating it's a recession?

Edit: I'm back at my computer now, so here's a link to the wikipedia recession page from last year. https://en.wikipedia.org/w/index.php?title=Recession&oldid=1087260365

There's nothing in the header saying a recession is 2 quarters of negative GDP growth, there's a line in the definition saying a general guideline is 2 quarters of negative growth, which is still there in the same fucking spot.

Who's gaslighting now?

Quote from last year:

Quote (VickIsSick07 @ Jul 31 2022 07:04am)

Oh idk, grocery store bill up 50%. Gas up 100%, electric bill up 25% (for now), rent prices are not even believable they're so high,....... Literally everything involved in living has had a massive price increase..... Nothing is happening tho. Jesus Christ. You must live with your parents because you clearly arent experiencing the real world.

Quote (VickIsSick07 @ Jul 31 2022 05:04am)

Oh idk, grocery store bill up 50%. Gas up 100%, electric bill up 25% (for now), rent prices are not even believable they're so high,....... Literally everything involved in living has had a massive price increase..... Nothing is happening tho. Jesus Christ. You must live with your parents because you clearly arent experiencing the real world.

Quote (Goomshill @ Jul 28 2022 10:40am)

We are now in the midst of the already obvious, but previously undeclared Biden Recession.
But the very facts that make this recession different from previous ones actually make it far more threatening and potentially catastrophic;

We are currently in a period of consistent GDP shrinkage and high inflation despite extremely high employment and multiple employment numbers, despite high consumer spending, despite very low interest rates, despite a ballooning stock market. This adds up to priming the stage for cataclysmic economic collapse. The fed, and the organic rubber banding of the economy on its own, are both powerless to bounce back from this recession with a soft landing. They can't just slash interest rates. We can't just drive consumer confidence and get people back to work. Everyone is already employed. Minnesota tops the charts with a 98.2% employment rate. But people are being paid in funny money, monopoly dollars. Supply lines are being stretched to their breaking points and property values have bubbled astronomically, we've already poisoned the US dollar with absolutely massive money printing in the past 2 years;

https://i.ibb.co/C9WsvzP/m2.png

We're already being squeezed harder than many people can afford and we're living on borrowed time. The economy has nowhere to go but over the cliff