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US Gross Domestic Product, Second Quarter 2022 (Advance Estimate)

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Re: US Gross Domestic Product, Second Quarter 2022 (Advance Estimate)

#231

Post by adgjlsfhk1 »

gorwell wrote: post #154
paisawalla wrote: post #139

Earlier quoted context omitted.

Among other things, that profit owes to the fact that the price for their product was substantially higher at sale time than at the time when they bought their inputs. If your issue is that someone made a profit, then you want the market price to be lower. I personally don't think mandating all actors to altruistically abstain from transacting at market price would be a sound policy, but that seems to be what liberal…

I'm liberal and don't want central planning. It terrifies me that we are headed down that road at all; even seeing trial balloons for price controls. It always ends very, very badly and there's no reason to think this time would be different.

Price controls on medicine in Europe have worked very well compared to America's "free market" by pretty much any measure.

Re: US Gross Domestic Product, Second Quarter 2022 (Advance Estimate)

#232

Post by westmeal »

DuskStar wrote: post #202
weakfish wrote: post #195

Earlier quoted context omitted.

I mean, CNN is basically the left version of Fox News, it’s not representative of center media.

It's closer to the center than the other major news network, MSNBC.

I upvoted you because downvoting to disagree is dumb, but I disagree, CNN is totally way far left.

Re: US Gross Domestic Product, Second Quarter 2022 (Advance Estimate)

#233

Post by InefficientRed »

remflight wrote: post #214
Nimitz14 wrote: post #200

Earlier quoted context omitted.

1947 saw two Qs neg growth amd no recession. This is something that everyone who is actually interested in the topic will have heard of because it's been mentioned repeatedly by the experts. And yet this thread is filled with confident statements by people who clearly have put zero effort into forming their opinion. Sad.

1947 was 75 years ago. Taking 1 example per lifetime doesn’t constitute any sort of evidence to the contrary.

On the other hand, we just went through a once per lifetime pandemic and a once per lifetime consumer stimulus package. Supply chains are wrecked and we're in a period during which international trading patterns could massively change. Meanwhile,

* China is still purusing zero COVID.

* There's a land war in Europe with Russia effectively cut off from the Western world.

* German manufacturing, once a workhorse, is being crushed by energy costs

* much of the developing world is swimming hard against the current just to stay alive.

I don't think we are in a situation analogous to 1947, of course, and I do think we are in or at least heading into a more-than-technical recession. But "irrelevant because that only happens after once in a lifetime extremely disruptive events" is a pretty... odd... take in 2022.

Re: US Gross Domestic Product, Second Quarter 2022 (Advance Estimate)

#234

Post by collegeburner »

selimthegrim wrote: post #165
thepasswordis wrote: post #128

Earlier quoted context omitted.

What do you think this is the type of comment, which the administration also keeps making, actually means? The subtext is: these companies are doing well, and that's a bad thing . How do you think that effects their desire to bring down costs for consumers? And also: yeah, their profits are up, because due to the actions of the administration people are uncertain about their ability to buy this stuff in the future, a…

These companies are not going to invest in new production anyway, they are going to return dividends to shareholders. You are setting up a straw man.

they can't bc investors are scared af about what the future is. biden and his buddies been attacking oil and gas for years now then they wanna flip a switch and have everybody go back to investing in production. then 2 yrs from now they gonna go back to attacking it and straight up cancelling projects and refusing to permit shit and companies won't be able to pay off the assets.

it was a mistake to focus on attacking o&g when alternatives still aint ready yet.

Re: US Gross Domestic Product, Second Quarter 2022 (Advance Estimate)

#235

Post by [deleted] »

pclmulqdq wrote: post #220
ConceitedCode wrote: post #210

Earlier quoted context omitted.

Great question! Not that I'm aware of (EDIT: sseagull provided a good example in 1947). To be fair, I can't think of any time where we've seen 2 quarters of negative GDP growth while maintaining "full" employment and wage growth. This is an unusual recession if it is a recession.

This is a recession. During a recession, the economy tends to lose 10% of its employment or more. Usually this is from loss of jobs. This time, inflation has cut everyone's pay by between 10 and 30% depending on who you ask. The CPI says 10%, but a lot of necessities, like energy and food, are up a lot more.

[deleted]

Re: US Gross Domestic Product, Second Quarter 2022 (Advance Estimate)

#236

Post by jodrellblank »

citilife wrote: post #115
NeverFade wrote: post #99

Earlier quoted context omitted.

> To some, this is a recession Not "to some", two back-to-back negative GDP stats has been the definition of a recession for my entire life. Now suddenly it's questionable, because the current administration would like to shrug away its failures, and too many in the media are helping them do it. This ad-hoc re-definition of language to suit political purposes is scary and Orwellian.

[flagged]

Nothing says Orwellian Dictatorship like change brought by a "30,000-strong petition", right? Nothing says Ministry of Truth more than "expanding the dictionary", based on "real world examples of use", eh?

(Hint: newspeak was not adding more to the language, was not based on real usage, and was not influenced by public petitions).

Or is this you redefining "Orwellian" and I've missed the joke?

Re: US Gross Domestic Product, Second Quarter 2022 (Advance Estimate)

#237

Post by partiallypro »

I personally think we're in recession and the reason is datapoints outside of this GDP print, what companies are saying, and the fact I know people that have been laid off already. What I find pathetic is that saying we are in a recession is now a political stance.

I think we all know that if a Republican were President the entire narrative would shift, with most of the press saying we're in recession while Fox, etc would say unemployment is still low which is what matters.

How did we get to a point where actual data can be outright denied or absorbed based on your political viewpoint? It's really pathetic. People will go to the ends of the earth just to protect politicians. Worse, even if we're in recession it's pretty mild, so I don't even know why there is so much handwringing about it.

Re: US Gross Domestic Product, Second Quarter 2022 (Advance Estimate)

#238

Post by namelessoracle »

selimthegrim wrote: post #165
thepasswordis wrote: post #128

Earlier quoted context omitted.

What do you think this is the type of comment, which the administration also keeps making, actually means? The subtext is: these companies are doing well, and that's a bad thing . How do you think that effects their desire to bring down costs for consumers? And also: yeah, their profits are up, because due to the actions of the administration people are uncertain about their ability to buy this stuff in the future, a…

These companies are not going to invest in new production anyway, they are going to return dividends to shareholders. You are setting up a straw man.

Haven't the oil companies stated they feel its doing more right by their investor putting the money back to the shareholders than invest in a project that has a likelihood of getting shut down by the government?

Re: US Gross Domestic Product, Second Quarter 2022 (Advance Estimate)

#239

Post by namelessoracle »

ceejayoz wrote: post #130
misiti3780 wrote: post #123

Earlier quoted context omitted.

what's your point? you dont think the administration plays any role in the increased gas prices, it's only the evil+greedy oil execs?

> you dont think the administration plays any role in the increased gas prices Essentially correct. Presidents have very little control over this.

Then why is the Biden admin bragging about lowering prices this summer?

Re: US Gross Domestic Product, Second Quarter 2022 (Advance Estimate)

#240

Post by thepasswordis »

selimthegrim wrote: post #169
thepasswordis wrote: post #149

Earlier quoted context omitted.

What? Biden and other world government officials placed massive sanctions on Russia exports of oil. They seized hundreds of billions of dollars of their deposits at the federal reserve. Forget about the fact that his administration had already been driving up the price of fuel, this had a huge effect on the futures prices, driving them up to where they are now. Their actions do have effects and sometimes a corrupt gr…

And in your ideal world where Russia has zero consequences for anything are you fine with them invading the Middle East for more oil?

Is that what I said?
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