Hey American's ! Look Over Here We Have Slipped Into A Recession

1. 82

   Sharlee01posted 3 years ago

   
   
   
   While the media has many Americans' eyes and ears on Abortion rights,  Biden making a fool of himself on the world stage, and another spectacular dramatic Trump investigation, we have slipped into a recession.
   
   Key Fed GDP tracker turns negative, the signaling recession is here
   The Atlanta Fed's GDPNow model estimates -1.0% growth for Q2
   
   The Federal Reserve's key real-time model for tracking U.S. economic activity has turned negative, signaling that the nation could already have entered a recession.
   The GDPNow gauge, a widely watched measurement from the Atlanta Federal Reserve Bank, indicated Thursday that real gross domestic product shrank by 1.0% in the second quarter from April through June.
   
   While the official advance estimate of Q2 performance will not be released for another month, this preliminary reading shows the second quarter in a row of negative growth in the economy after GDP contracted 1.6% in Q1.
   
   If further readings confirm that the economy did, indeed, shrink in Q2, the technical criteria for a recession – which is defined by two consecutive quarters of negative growth – will be met. However, the National Bureau of Economic Research (NBER) is the authority that makes the official determination.
   
   Economists expect some economic slowdown from the interest rate hikes that the Fed implemented as it attempts to rein in inflation, which hit a FOUR-decade high in May.
   
   Fed Chair Jerome Powell said Wednesday that there was some risk that policymakers might go too far in slowing economic growth, but that failing to bring inflation to heel represents a greater risk.
   
   The GDPNow tracker already signaled earlier this month that the economy was headed for the imminent recession when it showed two weeks ago that economic growth in the spring flat to 0%.
   
   So, some are predicting food shortages this winter,  are we headed into a full-blown depression?  When did we have our last Depression?
   
   Any thoughts on this current economic mess?

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2. 69

   IslandBitesposted 3 years ago

   Expected. Biden? I dont know.
   
   It was predicted in 2019. Before the pandemic.

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3. 82

   Sharlee01posted 3 years ago

   JOBS Published 26 mins ago
   US jobs level still below pre-pandemic level 28 months later, despite June job growth
   A top Republican says the 'White House remains out of touch' with Americans.
   
   The U.S. posted strong job growth in June, but the total number of employed Americans remained below its pre-pandemic level, federal data showed.
   
   Employers added a more-than-expected 372,000 jobs last month while the U.S. unemployment rate remain unchanged at 3.6%, the Department of Labor reported Friday morning. The job gains take the total number of U.S. employees to nearly 152 million, slightly below the pre-pandemic level of 152.5 million recorded in February 2020, according to a Federal Reserve database.
   
   "The historic strength of our job market is one reason our economy is uniquely well-positioned to tackle a range of global economic challenges – from global inflation to the economic fallout from Putin’s war," President Joe Biden said in a statement. "No country is better positioned than America to bring down inflation, without giving up all of the economic gains we have made over the last 18 months.

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4. 82

   Sharlee01posted 3 years ago

   
   
   The Consumer Price Index for All Urban Consumers (CPI-U) increased 9.1 percent over the last 12 months to an index level of 296.311 (1982-84=100), the largest 12-month increase since the period ending November 1981. For the month, the index increased 1.4 percent prior to seasonal adjustment. The all items less food and energy index rose 5.9 percent over the last 12 months. The energy index rose 41.6 percent over the last year, the largest 12-month increase since the period ending April 1980. The food index increased 10.4 percent for the 12-months ending June, the largest 12-month increase since the period ending February 1981. source: U.S. Bureau of Labor Statistics
   
   A recession is a significant decline in economic activity that lasts for months or even years. Experts declare a recession when a nation’s economy experiences negative gross domestic product (GDP), rising levels of unemployment, falling retail sales, and contracting measures of income and manufacturing for an extended period of time. Recessions are considered an unavoidable part of the business cycle—or the regular cadence of expansion and contraction that occurs in a nation’s economy.
   
   GDP two months in a row – 1st quarter 0.4%
   
   Retail sales fall 0.3% in May from June as surging inflation crimps spending on non-essentials   https://abcnews.go.com/US/wireStory/ret … s-85406791
   https://www.nytimes.com/2022/04/28/busi … -2022.html
   The second quarter  will be released on July 28
   
   Consumer spending has been decreasing monthly
   May 2022    0.2 %
   April 2022    0.6 %
   March 2022    1.2 %
   February 2022    0.6 %
   Consumer spending, or personal consumption expenditures (PCE), is the value of the goods and services purchased by, or on the behalf of, U.S. residents. At the national level, BEA publishes annual, quarterly, and monthly estimates of consumer spending.
   
   Retail sales nothing says more than a chart.
   
   https://tradingeconomics.com/united-states/retail-sales
   
   July 28, will give us a brand new inflation number... So, if you are of the belief that our economy is great, you may want to be holding on to your chair on July 28th, 2022.

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5. 76

   Castlepalomaposted 3 years ago

   Created my own government and free trade. Forget the politicians.

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6. 82

   Sharlee01posted 3 years ago

   Wholesale inflation surges 11.3% in June, accelerating more than expected
   Economists expected the gauge to climb by 10.7%
   https://www.foxbusiness.com/economy/who … e-expected
   
   "Wholesale prices accelerated again in June as inflation seeps throughout every part of the U.S. economy, squeezing businesses and American households in the form of higher prices for most necessities.
   
   The Labor Department said Thursday that its producer price index, which measures inflation at the wholesale level before it reaches consumers, climbed 11.3% in June from the previous year. On a monthly basis, prices grew by 1.1%.
   
   Both of those figures are higher than the 10.7% annual and 0.5% monthly estimates from Refinitiv economists, underscoring just how strong inflationary pressures still are."

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