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

seems so, although id argue the recession light came on in the cockpit sometime around late 2020...we just chose to ignore it. doubling down on 2010s speculative monetary policy of near negative interest is just wishful thinking, but directing relief grants to multibillion dollar industries was bad comedy.

its really hard to imagine how the fed assumed 'free money' was a sober policy to drive one of the worlds largest economies on. the best we can hope for now is the student and automotive credit bubbles dont burst under the strain of half-percentage-point increases, which i suspect will continue throughout 2023 as inflation crests 15%.

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

#7

Post by BuyMyBitcoins » Thu, Jul 28, 2022, 1:11 PM UTC

iamricks wrote: post #3

ramesh31 wrote: post #2

So it’s official now

According to the White House, it is not [1] https://www.whitehouse.gov/cea/written-materials/2022/07/21/...

Kind of amazing how this administration isn’t getting the kind of ridicule that would be expected if the previous administration tried to deny a recession was happening according to the objective definition by including a subjective qualifier.

Is this not the same thing as ‘alternate facts’?

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

#8

Post by ggm » Thu, Jul 28, 2022, 1:13 PM UTC

The swing in the higher granularity data going to quarterly is .. impressive. Scary impressive. If its not a measurement artifact, its a real quirk of the situational pressures.

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

#9

Post by qclibre22 » Thu, Jul 28, 2022, 1:14 PM UTC

nimbius wrote: post #6

ramesh31 wrote: post #2

So it’s official now

seems so, although id argue the recession light came on in the cockpit sometime around late 2020...we just chose to ignore it. doubling down on 2010s speculative monetary policy of near negative interest is just wishful thinking, but directing relief grants to multibillion dollar industries was bad comedy. its really hard to imagine how the fed assumed 'free money' was a sober policy to drive one of the worlds larges…

Congress and the previous and current administrations are also responsible for the "free money", not just the Fed. Lot of blame to go around.

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

#10

Post by slaw » Thu, Jul 28, 2022, 1:15 PM UTC

nimbius wrote: post #6

ramesh31 wrote: post #2

So it’s official now

seems so, although id argue the recession light came on in the cockpit sometime around late 2020...we just chose to ignore it. doubling down on 2010s speculative monetary policy of near negative interest is just wishful thinking, but directing relief grants to multibillion dollar industries was bad comedy. its really hard to imagine how the fed assumed 'free money' was a sober policy to drive one of the worlds larges…

Is dollar going to stop being world reserve currency with 15% inflation?