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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)

#271

Quoted post unavailable.

Female, according to Merriam-Webster: "having a gender identity that is the opposite of male" I would be incredibly offended if I was an actual woman.

I was surprised that one of the definitions of Female is exactly as quoted so I looked up male and one of the definitions is:

> having a gender identity that is the opposite of female

we have achieved word definition stack overflow!

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

#272

Earlier quoted context omitted.

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

what new medicines have come out of europe recently? (serious question)

The Pfizer vaccine for one.

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

#273

Earlier quoted context omitted.

Direct actions like immediately cancelling the keystone XL pipeline. Imagine you're a company which builds refining and extraction infrastructure. The government wants you to build more capacity to bring down the cost fuel, but 18 months ago. you watched them just straight up cancel a project which was already half finished. Would you go for this? I wouldn't. And you have a bunch of land lease contracts which allow y…

> Direct actions like immediately cancelling the keystone XL pipeline. It's unlikely an unfinished pipeline for export purposes had a significant impact on current gasoline prices. https://apnews.com/article/fact-checking-895299166310 "Experts tell The Associated Press that the Keystone XL pipeline cancellation isn’t affecting what’s happening in the oil market today. It was never operational when it was shut down, a…

You are talking past parent. They are saying the cancellation is a signaling mechanism that gives them no confidence to build out new refineries and other infra that is required to lower prices.

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

#274

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.

Your conspiracy theory is laughable, primarily because "the current administration" doesn't have any control over the "official" marking of recessions, which is done by the National Bureau of Economic Research, which is a private, independent non-profit.

Why does everything you personally don't agree with have to be a "conspiracy theory"? Seems like a trend these days!

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

#275

Earlier quoted context omitted.

Pandemic started in December 2019, gas prices started getting high in early 2021 after keystone was cancelled and the Biden admin began slow rolling drilling permits.

The start of the pandemic reduced gas demand. The returning to normal(ish) phase - in late 2020, early 2021 - increased it.

If things returned to normal, then you can't really blame the pandemic. When this thread started the war in Ukraine was the issue.

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

#276

Earlier quoted context omitted.

In the US, the NBER is the institution that calls recessions. The NBER has never once failed to call two consecutive quarters of negative growth as a recession. It's a foregone conclusion at this point. But wait, according to the mainstream media now, we shouldn't listen to the NBER either, they're all just a bunch of "white economists": https://www.cnn.com/2022/06/30/economy/recession-economists-...

CNN headline: Who decides if the US is in a recession? Eight White economists you've never heard of Is this a joke? It's like something you'd overhear at brunch from a group of co-eds

Was that actually the headline before?

The title I get is the same minus the "white". I wonder if it's A/B testing.

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

#277
post #151

Earlier quoted context omitted.

> and imply that the economy is doing really well right now is actually scary. We're not seeing a decline in employment or spending. The really bad symptoms of a bad economy aren't there yet. > Gas if still $4.2 national average per gallon. That's HUGE, and the direct actions of the administration are to blame for this. Which direct actions? And frankly, gasoline prices do not amount to a signficant amount of spendin…

It's been suggested the employment is because people are being forced to take on multiple jobs to make ends meet, not because there are more people getting jobs. Gas affects the prices of nearly everything in the economy so I have no idea how you would conclude it's not a large portion of spending. I work in commodities and we are seeing massive price increases simply due to fuel & freight costs.

The government can stimulate employment by pumping money into its favored causes. So what you end up with is plenty of people employed but not producing things that people actually want. Unfortunately, we can't even imagine the wonders that people might have produced if their resources were instead allocated towards satisfying consumers.

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

#278

Earlier quoted context omitted.

The exact opposite, Buy long positions at a discount

But you need to time the dip with this strategy, otherwise you're underwater in the meantime. I think the question was, "How can I profit as things get worse?" Or, "What are good ways to protect myself as things go downhill?" My recommendation? Reduce expenses. And think about investing in ways to reduce those expenses - Toilet paper is expensive, buying a bidet can save money after X uses. Meat can be expensive, see…

>My recommendation? Reduce expenses. And think about investing in ways to reduce those expenses

That's funny, I would recommend the exact opposite given the inflationary situation.

I would accelerate buying durable objects that you would like to have eventually, instead of waiting.

Saving money beyond a safety buffer is a bad idea when cash is losing 10% of its value per year and stocks are going down.

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

#279

The way that the White House, and by extension the administrative branch of the government has decided to redefine "recession" and imply that the economy is doing really well right now is actually scary. These people do have huge levers that control our lives that they can pull. Their actions do have massive effects on the American economy, and by extension the economy of the rest of the world. The actions they're ta…

“Every record has been destroyed or falsified, every book rewritten, every picture has been repainted, every statue and street building has been renamed, every date has been altered. And the process is continuing day by day and minute by minute. History has stopped. Nothing exists except an endless present in which the Party is always right.”

Next thing they’ll go for the statistics bureau itself in order to massage the numbers closer to the source as possible, no need anymore of this Orwellian double-talk. At least that’s what they were doing in the ‘80s in the Eastern-European country while I was a kid, officially we had record maize and wheat production, in practice bread and cooking oil were rationed.

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

#280

The way that the White House, and by extension the administrative branch of the government has decided to redefine "recession" and imply that the economy is doing really well right now is actually scary. These people do have huge levers that control our lives that they can pull. Their actions do have massive effects on the American economy, and by extension the economy of the rest of the world. The actions they're ta…

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