US economy enters technical recession after growth tumbles 0.9% in the second quarter

https://www.google.com/amp/s/www.fo...cond-quarter-entering-technical-recession.amp

This Biden-conomy just keeps getting worse doesn't it folks?

First we had skyrocketing inflation and now we have a shrinking economy with job losses. I hope everyone who are glad when Biden was installed in office is happy. That is what the Dems say "you will own nothing and be happy".

I would advise going to your nearest bridge or overpass and pick out your spot before they are gone.

What are you doing to prepare for what democrats have in store? When you have nothing will you and your family be happy?

 

"Technical Recession" ? What the heck is that? The economy is in recession and anyone with eyes can see that. Wait until a month when they revise down the number to be around negative 1.5% vs the negative .9 they released today.

Biden took office, signed EO's waging war on fossil fuels. The Democrats have full control in DC. The agencies are Democrat and waging war on the regular folk.

The result: fuel prices immediately shot upward, that in turn triggers cost increases for everything, that means inflation, and we entered recession a year after full Democrat control. We are now 6 months into recession.

Democrat votes do nothing but harm the regular folk

Let the Democrat voters begin their defense of this train wreck

 

Surprise, surprise, surprise.

I made this on July 22, 2021 knowing that it was what Potemkin President Brandon and the Babouvian Illiterati pulling his strings had in store for the economy and country:



And now here we are.

Surprise, surprise, surprise....

 

6 months ago, you could not buy a booking for a 53' intermodal container in Chicago.
Now, there are 3000 boxes sitting idle at the ramps.
This is up from 2000 about 10 days ago.

 

Isn’t it strange that fuel prices have closely mimicked this graph once demand returned to normal and as output goes back to normal so are gas prices?



Not to mention the record profit levels of the gas and refining corporations — but yes, I guess it makes more since this is all Biden’s fault even though it’s happening globally

 

More DNC arithmatrick in play LOL

 

Bullshit DNC arithmatric, made popular by Mr. Obatard and crew

 

Brandon, breaking one business at a time a lot.... When Brandon sets his mind to "fixing" you, you might as well start looking for different work... Wasn't his head boy Butty on this??

 

the DNC has the best party of all times, tell them they're doing great and they ignore the belly growls and final notice and delinquencies

But good time are a commin

 

You do realize oil had tanked to $0.00 per barrel. I can't stand guys hiding the f'ing facts of why something was done. The oil industry lost 78billion that quarter and we were almost at a point we would've have to bail out the oil companies or face a MAJOR DEPRESSION. This was all a ploy by the Russians to oversaturate the supply to hurt America. But carry on with your bloviated hypothesis that leave out the most important damn part, WHY!

 

It's not so much the business being broken, it's the freight not moving.

 

This was all planned.... this should be no surprise to anybody, but it seems it was to you... Bummer to be that guy...

My nitpick with your headline is "growth tumbles 0.9%".... what was the GDP shrinkage in 1Q and is 0.9% better or worse than that number??

Who has 2 thumbs and remains satisfied with the only choice for POTUS?? This guy...

 

Or, the flip side of the same coin being there isn't a demand to ship. Cause no one is buying what needs shipping, right?

 

Correct.
And so, the shipping end cuts back / closes down.

 

Good point too!

 

I completely understand the logic of having them lower oil production but not putting an agreement in place to also raise it once demand increased to normal was short sighted and directly responsible for what is going on currently.

Do you feel the bulk of the blame of high prices fall on Biden or on a combination of low supplies due to the OPEC agreement as well as profiteering from the oil companies that have well made up for that single quarter loss?

 

Heh. If you like "Technical Recession" wait for the whopper Brandon & Co. have in store for you.

Or maybe White House sock puppet Karine Jean-Pierre will perform yet another encore of her daily Baghdad Bob routine...

Play stupid Demokrat games, win stupid Demokrat prizes....

"We're going through an incredible transition away from fossil fuels!"

"I don’t want to hear any more of these lies about reckless spending. We’re changing people’s lives!”

 

Almost the spittin' image of Carter's stagflation.

 

The agreement didn't need to be made if you voted in a leader whom can command respect from OPEC.

But you didn't. You voted with your emotions.

Trump got OPEC to knock their price war **** off with Russia and they both relented.

Biden can't get either on the phone.

 

This AP story says it better:


America in recession...US economy shrank 0.9% last quarter


Associated Press
Jul 28, 2022






WASHINGTON — Confirming the fear of many economists, the U.S. economy shrank from April through June for a second straight quarter, contracting at a 0.9% annual pace — thus confirming that America is now in economic recession.

 

trump was pretty cozy with both — I will give him that.

OPEC has returned to normal production

A good leader can think beyond their administration especially when polling is showing they are about to be removed.

As to voting with my emotions — I voted against trolling and a distraction of norms. The cult parades didn’t help though.

 

It's difficult to imagine a more farcical spectacle than Brandon crawling into bed with the "Death to America!" crowd in Tehran and then traveling to Riyadh to beg the Saudis to bail his dumb ass out.

There isn't a measurement device on earth that is even remotely capable of gauging that level of stupidity.

 

Border crisis is not a crisis at all, but rather a "challenge," in which the border is "closed" and "secure."
Inflation is "transitory", "temporary." It was other people's fault, the doing of Vladimir Putin and greedy oil companies.
On recession, Biden is desperately redefining a basic economic rule-of-thumb term that's been used across the spectrum for decades.
Rising crime rates, a "matter of concern".

Voters don't enjoy having their collective intelligence consistently insulted. But, but, but Trump! Dems are just gaslighting now (for over a year)


"It's the economy, stupid" - James Carville,1992

 

And what will be the Biden administration response? In his speech today

MORE spending. MORE inflationary free money in the guise of tax cuts, they are actually refundable tax credits ie free money. Higher taxes on capital and investment. Nothing to bring down the price of energy in the foreseeable future. Cost shifting to the taxpayers on EV's, solar panels, Obamacare policies and a laundry list of left-wing give aways in the guise "cost cutting" which will only increase the actual cost and inflation.

And they have the GALL to name this the "Inflation Reduction Act of 2022".

 

That explains this: