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Nairaland Forum / Nairaland / General / Politics / Foreign Affairs / US Enters Technical Recession After Two Consecutive Negative Growths (27926 Views)
Russian Warship Carrying Hypersonic Nuclear Bombs Enters U.S Mainland (Photos) / Thomas Schäfe Commits Suicide Over Recession Caused By Coronavirus / South Africa Slips Into Technical Recession As GDP Drops 0.7% In Q2 (2) (3) (4)
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Re: US Enters Technical Recession After Two Consecutive Negative Growths by jonnyjustcome22: 6:20pm On Jul 28, 2022 |
Let them be deceiving u which recession are they talking about. People in US can still afford to buy basic common things unlike in Nigeria where people can not afford basic things |
Re: US Enters Technical Recession After Two Consecutive Negative Growths by Brendaniel: 6:20pm On Jul 28, 2022 |
jimetagambo: Was the American economy better during Trumps time? If yes, it partly Biden's fault.. Did the Ukraine war affect the American economy ? If yes, it's Biden's fault because he caused the war in the first place... Don't compare American democracy with Nigerian democracy, with the nonsense Buhari has done have you seen any of his ministers call him foolish or stupid, so you can't use that as yardstick, there is freedom of expression over there... |
Re: US Enters Technical Recession After Two Consecutive Negative Growths by Pilet: 6:21pm On Jul 28, 2022 |
jimetagambo:Obama had recession when gas prices hit 4.45 in US. Bro... I don't watch MSNBC or CNN, who were clearly biased against trump, bro research for your self, Obama had recession, trump didn't have recession, trump shutdown the country to curtailed corona virus. |
Re: US Enters Technical Recession After Two Consecutive Negative Growths by ponziponzi(m): 6:21pm On Jul 28, 2022 |
jimetagambo: People are calling it a" technical recession" because the WH released a technical paper earlier this week to shift the goal post on what recession should be. See: https://www.whitehouse.gov/cea/written-materials/2022/07/21/how-do-economists-determine-whether-the-economy-is-in-a-recession/ Also, they have no incentive to call it a recession. US economy is consumer-based (more than 70% of US GDP is consumption). They want people to stay calm and spend as usual. When you tell people there is a recession, they tend to withhold and spend less which will have devastating effect on the economy. US is in a recession, it is not rocket science, the masses on ground can feel it and they are withholding spending. |
Re: US Enters Technical Recession After Two Consecutive Negative Growths by Ibime(m): 6:22pm On Jul 28, 2022 |
Drenimarcus: It was a possibility but factually incorrect at the time of your post. Analysts estimates were for 0.5% growth so I only gave it a 40% chance of going negative |
Re: US Enters Technical Recession After Two Consecutive Negative Growths by grandstar(m): 6:23pm On Jul 28, 2022 |
jimetagambo: Trumps position was stupid and that's why Central Banks do best when fully independent. The Feds primary job is to keep inflation at 2%. Why low inflation is important is high inflation blurs the benefits of high economic growth, especially the poor who have no assets to hedge against inflation. And if it's stagflation, it's worse for everyone. Trump wanted rapid growth at all cost indefferent to the inflationary risk involved. The Feds made the right call. 1 Like |
Re: US Enters Technical Recession After Two Consecutive Negative Growths by VeryWickedMan: 6:23pm On Jul 28, 2022 |
Ibime: Is Russia in recession? |
Re: US Enters Technical Recession After Two Consecutive Negative Growths by Reallife17: 6:24pm On Jul 28, 2022 |
ufotty2001:the naira is on a free fall |
Re: US Enters Technical Recession After Two Consecutive Negative Growths by Drenimarcus(m): 6:24pm On Jul 28, 2022 |
Ibime: ![]() |
Re: US Enters Technical Recession After Two Consecutive Negative Growths by jimetagambo: 6:24pm On Jul 28, 2022 |
tctrills:Unemotional rate is currently at 3.6% under Biden so what's the big deal? Trump cut taxes for cooperation (trickle down voodoo economics. Trump pumped money into the economy thereby Increasing the deficit and debt while also bullying the feds to cut the interest rate. Of course the economy will surge (artificially) and briefly. Pain will sure come after when the party is over. Now it's payback time and interest rate are being cut to combat inflation as a result as a result of too much money in circulation. All these are basic economics 101. https://www.propublica.org/article/national-debt-trump Ps: Biden is reducing the deficit. 1 Like
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Re: US Enters Technical Recession After Two Consecutive Negative Growths by Lovenorth: 6:26pm On Jul 28, 2022 |
jimetagambo:So you are taking this yahoo news serious? |
Re: US Enters Technical Recession After Two Consecutive Negative Growths by Drenimarcus(m): 6:26pm On Jul 28, 2022 |
seunny4lif: ![]() |
Re: US Enters Technical Recession After Two Consecutive Negative Growths by Ibime(m): 6:27pm On Jul 28, 2022 |
Drenimarcus: I wasn't talking to you my friend. I was talking to a Putard who said Russia is thriving. If April, May and June was negative GDP, do you need a calculator to tell their Q2 would be negative?
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Re: US Enters Technical Recession After Two Consecutive Negative Growths by Lovenorth: 6:28pm On Jul 28, 2022 |
God bless Putin and lovely Russian federation 1 Like |
Re: US Enters Technical Recession After Two Consecutive Negative Growths by Drenimarcus(m): 6:28pm On Jul 28, 2022 |
Ibime: Easy ibime ![]() |
Re: US Enters Technical Recession After Two Consecutive Negative Growths by jimetagambo: 6:30pm On Jul 28, 2022 |
Lovenorth: Lovenorth:So it's RT news I should take seriously shey? ![]() All you Putin fan boys sef. I hope you are celebrating Christmas in Russia ![]() 1 Like |
Re: US Enters Technical Recession After Two Consecutive Negative Growths by BoverLY: 6:30pm On Jul 28, 2022 |
US knows how to deviate and distract attention from themself.. So u think low and belittle their strengths.. It's an economical strategy and game... If na true why is dollar 720 to dollar.. �� |
Re: US Enters Technical Recession After Two Consecutive Negative Growths by seunny4lif(m): 6:31pm On Jul 28, 2022 |
Drenimarcus:Look at this India imports Russia oil and sell it to France and Co ![]() UAE and Saudi are importing almost 1M barrels per day each and Oman want to starting importing Russia oil and gas. It’s cost only €15 to produce Russia oil and load it on ships. 1 Like |
Re: US Enters Technical Recession After Two Consecutive Negative Growths by Lovenorth: 6:32pm On Jul 28, 2022 |
jimetagambo:Believe Western propaganda at your own Risk |
Re: US Enters Technical Recession After Two Consecutive Negative Growths by IgOga(m): 6:32pm On Jul 28, 2022 |
jimetagambo: I think you got it upside down....the best performing currency in the world for 2022 is Russian Rouble.....Russia's inflation has gone down this year.....Russia has cheap energy and food.....the real impact of Ukraine war Nd sanctions are in Europe and the US....US is in recession......the only issue the Russian economy has was US blocking Russia from refinancing their debt in dollars....so thatvthe US could claim Russia defaulted but not for lack of money infact FT says Russia has already met 60% of its revenue target this year by end of May.....they will likely have more than they budgeted .. .....Forget the propaganda the reality is there for every reasonable person to see.....in a world where poison is sold as vaccine....and recession is actively being marketed by US media as recovery....you need to be careful about believing all things media...engage your brain when reading the news 1 Like |
Re: US Enters Technical Recession After Two Consecutive Negative Growths by Pickmycall: 6:32pm On Jul 28, 2022 |
The US unemployment rate is 3%.While nigeria unemployment rate is 40%.America dollar is growing stronger.While the naira is weaker to the dollar.Who should be in a reccession? 2 Likes |
Re: US Enters Technical Recession After Two Consecutive Negative Growths by jimetagambo: 6:33pm On Jul 28, 2022 |
IgOga:I am sure you know that Russia too is selling vaccines. Get your head out of conspiracy theories boy. Please tell me why Russia is struggling with part shortage so bad that it's making cars without air bag, seat belt tensioners, radios e.t.c. butchering aeroplanes for parts e.t.c. Tell me why the inflation rate in Russia is above 15%. Tell me why Russia has fallen so low that it is now buying drone parts from Iran ![]() Alot of us don't suck Putin's dick for a living brighter do we read Russia propaganda news aka RT. 4 Likes 1 Share |
Re: US Enters Technical Recession After Two Consecutive Negative Growths by Drenimarcus(m): 6:34pm On Jul 28, 2022 |
seunny4lif: Saudi had a price hike today. Opec already said they won't be pumping when they meet next month. These countries are making bastard money ![]() |
Re: US Enters Technical Recession After Two Consecutive Negative Growths by Eriokanmi: 6:35pm On Jul 28, 2022 |
seunny4lif:
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Re: US Enters Technical Recession After Two Consecutive Negative Growths by jimetagambo: 6:42pm On Jul 28, 2022 |
Pickmycall: Africa, especially Nigeria is a special case. High unemployment rate, high inflation, high interest rate, high poverty, high every bad thing sef. I wish Peter Obi can atleast become president for a change but we are going to be stuck with Atiku or Tinubu in Nigeria. Interest rate among the G20 and interest rate amongst some African countries below. 1 Like
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Re: US Enters Technical Recession After Two Consecutive Negative Growths by Secondly: 6:42pm On Jul 28, 2022 |
Biden has used his WOKE politics to finish these people. Well, we warned them but they didn't listen. Now, they will start blaming Putin all over again. |
Re: US Enters Technical Recession After Two Consecutive Negative Growths by Nobody: 6:43pm On Jul 28, 2022 |
jimetagambo: Try not to quote sources with such obvious political bias otherwise you just make yourself look like an unserious political hack. “They are desperate for democrats to catch up”?! You say recession comes and goes as part of the economic cycle but somehow it only “starts” under republicans? I don’t manipulate words and stats for political points bro. I already gave you the widely accepted definition of recession and by that definition this one has “started” under Biden. Simples. |
Re: US Enters Technical Recession After Two Consecutive Negative Growths by jimetagambo: 6:44pm On Jul 28, 2022 |
SlyfoxxjReturns:Bias? Jerome Powell was appointed by the Republican..Biden could have fired him, but he kept him. The NBER does not care about what party is in power. They are very partisan. They would call a recession the moment it's one. I can't even argue. If it comes with Republicans. Check their policies. Tax cuts for large cooperations (trickle down economics), increase deficits, cut interest rates e.t.c. that's how the cycle begins. All these policy would certainly artificially inflate the economy till the next rate hikes. This recession fear would have been here even if Trump was president because rate hikes is the only tool Central banks around the world use to fight inflation. And when you hike interest rates, them you are romancing recession since there is a timeline between the too. Like I said earlier. If it's a recession, no biggie. It won't be the first neither would it be the last. Abeg I want to go back to work. I won't reply mentions again. 1 Like
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Re: US Enters Technical Recession After Two Consecutive Negative Growths by Omakwole: 6:45pm On Jul 28, 2022 |
Lol
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Re: US Enters Technical Recession After Two Consecutive Negative Growths by seunny4lif(m): 6:46pm On Jul 28, 2022 |
[quote author=Eriokanmi post=115168491][/quote] I don’t understand you Where is Russia resumed NS1 for dollars and euros deal. Do you know why NS1 was shutdown? |
Re: US Enters Technical Recession After Two Consecutive Negative Growths by seunny4lif(m): 6:47pm On Jul 28, 2022 |
Drenimarcus:Nigeria Nigeria ![]() Nigeria government will look to blame PDP or Mexico drugs cartels Even Iran that is under sanctions have made billions of dollars already 5 Likes
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Re: US Enters Technical Recession After Two Consecutive Negative Growths by pargelenis(m): 6:48pm On Jul 28, 2022 |
VeryWickedMan:Russia own pass recession … send your wife to born the next “pikin” there ![]() |
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