Posted on Aug 24, 2022
Most Economists Believe US Will Be in Recession By Next Summer | Project Patriot
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Will the U.S. run into recession by next summer? Most economists believe so. What are your thoughts? Let's share.
Most Economists Believe US Will Be in Recession By Next Summer | Project Patriot
Posted from projectpatriot.comPosted in these groups: United States
Economy
Economy
Posted >1 y ago
Responses: 3
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SFC Casey O'Mally
CPT Gurinder (Gene) Rana We are currently what would have been considered a recession at any point prior to this administration. They changed the definition so that the current recession is somehow not a recession.
So, according to this article, by next summer we will be in the recession we are ALREADY IN. But it isn't currently a recession because newspeak. So if, when next summer rolls around, the predicted EXPANSION of the current recession is looming, the definition of recession will likely change AGAIN to explain why it isn't REALLY a recession.
So, according to this article, by next summer we will be in the recession we are ALREADY IN. But it isn't currently a recession because newspeak. So if, when next summer rolls around, the predicted EXPANSION of the current recession is looming, the definition of recession will likely change AGAIN to explain why it isn't REALLY a recession.
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CPT Gurinder (Gene) Rana
SFC Casey O'Mally, oh, I see. Recession is being given a different look, so it isn't called a recession. Hence, by next summer the recession expected will arrive, yet it will have a different appearance and a separate name. You are suggesting that we are currently in recession. Is my understanding of your views correct?
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Personally I think we are already headed into a recession now, we have had 2 quarters of negative growth, inflation numbers are near record highs for the modern era. Federal government keeps printing money like it grows on trees. We will be in recession way before summer at this rate.
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SFC Casey O'Mally
SSG (Join to see) The "core inflation" rate, which excludes fuel and food, is not new to the administration.
Food and fuel are notoriously more volatile than other items in the inflationary calculations, which is why they are excluded. Fuel alone can fluctuate by as much as 4% week to week and even 2% day to day (or even more at extreme volatility), let alone month to month, but, in general, tends to track the "core inflation" when averaged over time. But including food and fuel into the calculation means that your calculations are dependent on the specific day, sometimes the specific hour, that the numbers are pulled. This let's people "cherry pick" numbers to create a specific narrative - or to project false economic strength (or weakness).
That is why "core inflation" was created and is used widely - to include the last few administrations, not just Biden.
Food and fuel are notoriously more volatile than other items in the inflationary calculations, which is why they are excluded. Fuel alone can fluctuate by as much as 4% week to week and even 2% day to day (or even more at extreme volatility), let alone month to month, but, in general, tends to track the "core inflation" when averaged over time. But including food and fuel into the calculation means that your calculations are dependent on the specific day, sometimes the specific hour, that the numbers are pulled. This let's people "cherry pick" numbers to create a specific narrative - or to project false economic strength (or weakness).
That is why "core inflation" was created and is used widely - to include the last few administrations, not just Biden.
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CPT Gurinder (Gene) Rana
SSG (Join to see), fudging (softening) the numbers by removing variables from the equation. Is this what you are saying?
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I firmly believe that we are headed there in this cycle of spending madness
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