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US economy shrank by 0.6 percent in second
quarter — signaling recession

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Posted By: Black Conservative Voice, 8/26/2022 5:17:37 AM

The economy shrank by 0.6% in the second quarter compared to the same period last year — the second consecutive quarter that the nation’s gross domestic product contracted, thus signaling the onset of a recession, according to the latest data. The US Commerce Department issued a revised reading of second-quarter figures on Thursday — nearly a month after its initial report measured a 0.9% contraction compared to the year prior, Fox Business reported. In the first quarter of this year, GDP fell by 1.6% — the worst-performing quarter since the spring of 2020. At the time, much of the country was in lockdown due to the spread of the coronavirus.

Comments:

First comes the Recession then if there is no change in direction then there is Depression. Global starvation. However, our President said we have 0 inflation. We better trust him lol

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Reply 1 - Posted by: Illinois Mom 8/26/2022 5:30:52 AM (No. 1259571)
The "US economy shrank by 0.6 percent?" When will they stop with the Fake News? I heard Biden with my own ears, lust last night, ranting to a cheering crowd, that his policies had created the greatest economy in years. He said that his administration had taken what that fascist Trump had left him and turned it around. Lunchbox Joe is our champion. He would never lie to us.
6 people like this.

Reply 2 - Posted by: F15 Gork 8/26/2022 6:40:44 AM (No. 1259608)
Quick, raise taxes and forgive all loans! That’s the ticket.
4 people like this.

Reply 3 - Posted by: privateer 8/26/2022 8:16:48 AM (No. 1259702)
When this development is utilized as a campaign issue, I think it would be best to call it the 'Democrat Recession', rather than the 'Biden Recession'. Because there is a minimal chance that the Vegetable understands, much less designed, the policies that led to it. Plus it takes out all the down-ticket crooks.
3 people like this.

Reply 4 - Posted by: Clinger 8/26/2022 8:19:48 AM (No. 1259709)
"Signaling" a recession? Like one might be on the distant horizon? We have met the time accepted official definition of recession when the bar for avoiding that accomplishment was set artificially low since we were on a growth trajectory coming out of a deliberate economic throttling of unprecedented proportion. This is like being demoted from the 6th grade after you went from F's to D's and getting F's in the fourth grade. This isn't just some garden variety contraction from a very good economy to a just OK economy. This is a downturn from a point that was still well short of complete recovery from the COVID strangulation.
2 people like this.

Reply 5 - Posted by: seamusm 8/26/2022 8:56:18 AM (No. 1259748)
Not here in Texas. If the US economy as a whole shrank but states like Texas and Florida have grown, I'd hate to be in one of those Dem states because they are surely DEEP blue and drowning in the blues.
1 person likes this.

Reply 6 - Posted by: DVC 8/26/2022 9:35:18 AM (No. 1259794)
Dems and their Enemedia lie about it, but we have been in a recession for months. Lying is all they have left.
2 people like this.

Reply 7 - Posted by: Luandir 8/26/2022 1:32:46 PM (No. 1260075)
What will they say when the third quarter comes in negative?
1 person likes this.

Reply 8 - Posted by: hoosierblue 8/27/2022 5:41:13 AM (No. 1260579)
Forget that B.S.. We are in a recession and pushing towards a depression at a very fast rate.
0 people like this.

Reply 9 - Posted by: franq 8/27/2022 2:33:06 PM (No. 1260948)
Heads rolled at work yesterday. Another Black Friday. Rumor was 10% across the division, but I don't think it got that high. Still employed, praise God.
1 person likes this.

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