The recession should probably be here by now
The recession should probably be here by now
www.axios.com
Just a moment...
50 comments
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Only poor people are feeling it and the cash value of what they own is too small to make a difference in the larger picture.
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Funny how recessions only exist under capitalism.
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Let me introduce you to Venezuela.
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Still capitalist.
Gross domestic product is expected to grow 8.3% this year, from 1.9% in 2021, according to a Bloomberg survey of five economists. The country is getting a lift from a rise in oil production and seeing tax revenue and banking credit expand, which suggests domestic demand is rising.
Time to get a new talking point.
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Ok boomer.
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Nice 👍
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50 comments
How do you feel like it's a recession? And why do you think most people feel that way?
Obviously, recessions don't happen based on anecdotal information, but that doesn't mean it can't feel that way to some individuals.
Unemployment is at the lowest rate for 30 years and wages are rising.. that's actually part of what's driving inflation. Annualized growth this year is expected to hit an astonishing 6%. In July new orders for manufacturing hit their highest level in 9 months. Construction is doing well and consumer spending is way up. Nothing points even remotely to a recession.
How is the workforce participation rate doing? You know, the only number that matters.
Not while the economy has been expanding for the last 4 quarters and shows no signs of contraction in this quarter or next they won't.
Using the stock market to measure a recession has to account for continually rising rates at which money is rented. If you can see pretty massive cases of consumer level inflation while businesses struggle, you already have a hole money is leaving.
Watching the evergrande saga unwind over the course of years should give an idea to the extent of run time it will take to see results, especially when it is in the interest of investors to prop up value.
https://tradingeconomics.com/united-states/wage-growth
Wages up more than 5% annually
https://www.bls.gov/cpi/
Inflation 3.2% annually, 4.8% when not counting food and energy
Sorry, the economy is good for the worker and not in any recession