Biden recession is upon us.

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Never thought I would agree with Obama but he was right when he said Never underestimate Joe’s ability to Ef things up.  Guy was handed a thriving economy coming out of Covid and a working vaccine and what do we get.  Worst inflation in 40 years, a recession and more people dead from Covid on his watch than Trumps.  

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The evolution of language:

 

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Specializes in Emergency.
18 minutes ago, MaybeeRN said:

Never thought I would agree with Obama but he was right when he said Never underestimate Joe’s ability to Ef things up.  Guy was handed a thriving economy coming out of Covid and a working vaccine and what do we get.  Worst inflation in 40 years, a recession and more people dead from Covid on his watch than Trumps.  

Assume I have no understanding of economic theories or global economics and explain how we are in a recession. 

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2 minutes ago, emtb2rn said:

Assume I have no understanding of economic theories or global economics and explain how we are in a recession. 

https://www.investopedia.com/terms/r/recession.asp

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Specializes in Emergency.
2 minutes ago, MaybeeRN said:

https://www.investopedia.com/terms/r/recession.asp

Good basic overview. But’s let’s dig a little deeper. The folks who actually declare a recession, the National Bureau of Economic Research (NBER), aren’t quite there. While there have been 2 consecutive quarters of decline in the GDP, employment is still strong. That could change as the job market appears to be softening. However, I don’t think we are in recession just yet. And the weird thing is that recessions are generally truly identified in hindsight, not in the present.

https://www.cnbc.com/2022/07/26/heres-how-to-know-if-were-in-a-recession-and-its-not-what-you-think.html

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34 minutes ago, emtb2rn said:

Good basic overview. But’s let’s dig a little deeper. The folks who actually declare a recession, the National Bureau of Economic Research (NBER), aren’t quite there. While there have been 2 consecutive quarters of decline in the GDP, employment is still strong. That could change as the job market appears to be softening. However, I don’t think we are in recession just yet. And the weird thing is that recessions are generally truly identified in hindsight, not in the present.

https://www.cnbc.com/2022/07/26/heres-how-to-know-if-were-in-a-recession-and-its-not-what-you-think.html

Standard definition which has been used for decades is 2 quarters of negative growth.  It ain’t going to get any better any time soon.

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Specializes in Emergency.
27 minutes ago, MaybeeRN said:

It ain’t going to get any better any time soon.

No argument there. And while I don’t believe it’s actually biden’s fault, he’s the potus, so he owns it. 

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