So, are we in a Recession or not?

[Averageman]

It would seem that if you have to start redefining what a recession actually is you're in trouble.
So what do you say?

[AndyLate]

There is no recession until the soup lines circle the block and the government just declared soup lines are unlawful assemblies.

I'm not a financial guy, but we certainly are getting hit by inflation, the stock market was in freefall since January (starting to claw its way back?), the majority of items we buy is transported around the country by trucks burning fuel selling for record prices, and we haven't even felt the effects of all the late summer/early fall grain, soybean, and cotton harvests by farmers paying record fuel and labor prices.

This could be our winter of discontent...

Andy

[Inkslinger]

There is no recession until the soup lines circle the block and the government just declared soup lines are unlawful assemblies.

I'm not a financial guy, but we certainly are getting hit by inflation, the stock market was in freefall since January (starting to claw its way back?), the majority of items we buy is transported around the country by trucks burning fuel selling for record prices, and we haven't even felt the effects of all the late summer/early fall grain, soybean, and cotton harvests by farmers paying record fuel and labor prices.

This could be our winter of discontent...

Andy

If it weren’t for EBT cards, there would definitely be food lines.

[FromMyColdDeadHand]

When you can redefine the word ‘is’ means or what a man or a woman is- changing the meaning of recession is small thing.

The funny thing is that by denying a recession, they lose political points with people that are hurting financially right now. They are forgetting the first rule of politics, don’t let a crisis go to waste. Use the recession as a casus belli for what you want.

[pinzgauer]

the stock market was in freefall since January (starting to claw its way back?),

Having witnessed the market in freefall twice, what we've been experiencing is not freefall.

Will have days with mid single digit losses, then a couple of days of 1 and 2% clawback and then one and 2% drop but then over a period of time it works itself almost back up to where it was.

Free Fall is just steady decreases with no signs of support or even slowing.

Is the market down? Yes, relative to its peak. Is the market volatile? Yes, it's very jittery which it tends to be when it's over invested.

As to recession, it's pretty clear to me if we're not in one we are very close to it. And the actual word recession matters less than inflation and interest rates.

I began my adult life in the worst of stagflation. Mortgage rates were 15% and above and we're very difficult to get. Wage growth was viewed negatively and so salaries were flat.

I have 100% confidence in this administration's capability to screw things up even worse than they are now. But while things are down, it's certainly not the worst I've seen as an adult.

[Averageman]

Interesting that all of these things seem to be hitting us at the same time isn't it?
If we are technically in a recession, why is the Fed saying "No" this isn't a recession?
We are watching a potential world wide food shortage
while we also see protesting Farmers who want to produce food being shot at by the LEO's inside their Country.
We've got an inability/backlog of ships to be off loaded and those goods moved to market while the Governor of California limits who can move those goods out of port.
Very interesting indeed

[Buncheong]

You are in a recession, en route to a depression.

Offshoring and open borders have cratered wages. That isn’t going to change. The factories are in Asia, now, and US manufacturing is largely no more. The industrial base itself was sold off for scrap or shipped abroad. Cheap energy is a thing of the past. US workers cannot compete with foreign workers because foreign workers are treated as near-slaves, and paid a pittance while working days and hours that the majority of Americans little dream of. Add in knowledge loss and a garbage education system, and the US falls even further behind the curve.

The United States is collapsing, by design. The sooner people face these hard facts the sooner they can adjust to the harsh future that is ahead.

[Averageman]

The United States is collapsing, by design. The sooner people face these hard facts the sooner they can adjust to the harsh future that is ahead.

So then you believe it's a controlled demolition of our economy and ability to feed ourselves?

[Buncheong]

So then you believe it's a controlled demolition of our economy and ability to feed ourselves?

It appears that way, yes, but I would venture to guess that some people here would tell you that it’s God’s Judgment, while others would assert that it’s an intersection of stupidity and psychopathy among those in high authority.

But regardless, the US can’t be turned around in our lifetimes. The prosperous and relatively safe life we enjoyed 25, 30, 50, 70 years ago was a fleeting moment in our history (in world history), never to be repeated.

It gives me no joy to say so, but there it is.

[ryr8828]

I remember when the media was continually asking Bush "Will you now admit that we're in a recession" before half the reporting period was even up.

Now they'll wait 6-8 months to call recession in order to protect their hero.