Non-Political - Officially NOT a recession thread

[Colonel Angus]

Good tweet here from Josh Boak (economics writer with the Associated Press) - the economy actually grew at an 8% annual rate if you strip out the inflation:

And kudos to Secretary Yellen for highlighting the remarkable progress of the Biden administration policies

Also wanted to highlight this think piece from Krugman:

[Donkey Deac Doug]

*sigh*

[TownieDeac]

Consent manufacturing machine go brrrrrrrrrr

[BarcaDeac]

[ImTheCaptain]

nothing like the Conservative love of celebrating American suffering in the name of winning

[Donkey Deac Doug]

nothing like the Conservative love of celebrating American suffering in the name of winning

I don't have a problem suffering to win. However, I don't really feel like anyone is "winning" right now.

It's disappointing how gross it feels using that word right now. I am not sick of victory, but I am sick of "winning."

[ImTheCaptain]

i don't mean suffering to win like 'working hard for results'

i mean republicans like it when Americans face adversity so they can cheer about owning libs

[EatLeadCommie]

i don't mean suffering to win like 'working hard for results'

i mean republicans like it when Americans face adversity so they can cheer about owning libs

I know you weren't born yesterday. Whoever is in power gets the blame, warranted or not. And whoever is in power will deflect the blame. That is how it has always been and how it always will be.

[deac_tracy]

Fucking Biden is ruining everything.

Euro zone inflation hits record backing calls for larger hikes.

[ImTheCaptain]

I know you weren't born yesterday. Whoever is in power gets the blame, warranted or not. And whoever is in power will deflect the blame. That is how it has always been and how it always will be.

uh huh

[Colonel Angus]

What suffering and adversity are you referring to, ITC?

The president himself said the economy is on the right path and just in a transition period:

[PhDeac]

The economy has been broken for awhile. It’s silly to rely on outdated notions that one metric is connected to another metric like it was in the 70s.

[2&2 Slider To Leyritz]

It's also silly to focus on income inequality instead of baseline standard of living as a primary measure of the effectiveness of capitalism as if it were the 1870s, but this board still does.

[JuiceCrewAllStar]

wow someone wants a bespoke economic measuring tool

[PhDeac]

It's also silly to focus on income inequality instead of baseline standard of living as a primary measure of the effectiveness of capitalism as if it were the 1870s, but this board still does.

Are they measuring the effectiveness of capitalism? If government assistance provides the baseline standard, is it really about capitalism?

[Colonel Angus]

The economy has been broken for awhile.

OK - Guess I just expected more from Joe's economic experts during this period of economic transition. Why the low expectations, PhDeac?

Biden Fills Economic Posts With Experts on Systemic Racism

https://www.bloomberg.com/news/artic...ystemic-racism

“Observers say they’ve never seen expertise about race figure so prominently in economic roles.

“It’s an incredible signal to the Black community,” said Anna Gifty Opoku-Agyeman, co-founder of the Sadie Collective, a nonprofit working to get more Black women in economics. “This administration is going to be focused on thinking about: ‘How do we build up Black wealth? How do we close this racial wealth gap?’””

“Biden and Vice President-elect Kamala Harris are emphasizing diversity as they prepare to assume power next year. Women comprise more than 50% of the new administration’s landing teams, according to the transition team, and more than 40% of advisers are from groups that are historically underrepresented in the federal government, like racial minorities, people with disabilities and those who identify as LGBTQ.”

[dartsndeacs]

This is a weird recession in that it's a recession of tech workers no longer making $400k/yr and content producers not getting a blank check. If you work any trade or service industry you're not in a recession. However, I feel like there's going to be a mass exodus of people wanting to eat out at these prices, which is going to result in tons of restaurants closing which will bring that back into balance. Also, the construction industry isn't slow yet, but will get there.

[2&2 Slider To Leyritz]

Are they measuring the effectiveness of capitalism? If government assistance provides the baseline standard, is it really about capitalism?

There are currently plenty of jobs available. Some people choose to take them, others choose to take the government assistance equivalent funded by capitalism because it is provided to them. That is often a reflection on the individual, not on capitalism. But either way directly or indirectly, the baseline standard is what it is because of capitalism.

[PhDeac]

Taxes = capitalism?

So GDP is down but July was the best month for Wall Street since 2020.

[Donkey Deac Doug]

Take it to the tunnels, chodes.