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Jul 25 - Biden: ‘God willing, I don’t think we’re going to see a recession’



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 6 months ago '20        #1
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Contributor13  topics gone triple plat - Number 1 spot x8
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Jul 25 - Biden: ‘God willing, I don’t think we’re going to see a recession’
 

 
President Biden on Monday said he does not expect the U.S. economy to enter a recession ahead of a key report on gross domestic product (GDP) that could show the economy contracting.

“We’re not going to be in a recession in my view,” Biden told reporters after a virtual event focused on semiconductor legislation.

“The employment rate is still one of the lowest we’ve had in history. It’s in the 3.6 [percent] area. We still find ourselves with people investing,” Biden continued. “My hope is we go from this rapid growth to steady growth, so we’ll see some coming down. But I don’t think we’re going to, God willing, I don’t think we’re going to see a recession.”

The Bureau of Economic Analysis is scheduled to release second-quarter GDP data on Thursday. If it shows negative growth, it will mark the second consecutive quarter where the economy contracted, an indicator that often is used by economists to mark a recession.

Numerous White House officials have spent the past week pushing back on the idea that the economy is in recession based purely on the data that will come out Thursday.

Even if that number is negative, we are not in a recession now,” Treasury Secretary Janet Yellen said Sunday on NBC. “And I would, you know, warn that we should be not characterizing that as a recession.”

Jared Bernstein, a member of the Council of Economic Advisers, told reporters last week that data on payroll employment, the unemployment rate and consumer spending are all “very much inconsistent with a recessionary call, given where we are right now.”

White House officials have also pointed to the National Bureau of Economic Research, a nonprofit group of economists, as a greater authority on what constitutes a recession. The group considers a recession “a significant decline in economic activity that is spread across the economy and lasts more than a few months.”

The Biden administration has been grappling with high inflation for months, with the Russian invasion of Ukraine earlier this year injecting uncertainty into global supply chains.

Biden and his team have argued they are hoping to transition the economy from the rapid growth out of the valley of the coronavirus pandemic to a more stable trend of growth as things stabilize and many Americans return to some semblance of normalcy.
visit this link https://thehill.com/homen .. e-a-recession/
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86 comments
 

 6 months ago '15        #2
Still Numskull 
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“We’re not going to be in a recession in my view,”

Says the guy who keeps shaking hands with the air.
+51   

 6 months ago '17        #3
Lazy  topics gone triple plat - Number 1 spot x2
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Trickle truth
-3   

 6 months ago '12        #4
HeightsBound  topics gone triple plat - Number 1 spot x7
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“We’re not going to be in a recession in my view (time as President),”

Recession in 2024 confirmed.
+22   

 6 months ago '10        #5
lltreyll 
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Stocks tanked, everything costs more, people are broke and not spending as much on goods and services as expected. Interest rates may be raised not just once in a few days, but possibly again within as short as about a month's time..And that's just 2022 so far.

Call it what you want but all kinds of sh*t is still fu*ked up.. Were all still trying to adjust to the turbulent times since covid hit. Speaking of which covid didn't go away, and that monkeypox sh*t is rapidly spreading too. Fall and winter is sure to make the spread of viral infections worse. And the chance of America fu*kin around and going to war is there too.

So sh*t isn't all good in America, and more importantly the near future of America won't be any better. Who knows when things will settle, but using the buzzword "recession" and saying we aren't in one doesn't change how fu*ked up sh*t is and will be in America.
+26   

 6 months ago '04        #6
Chokeabiish 
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Sent billions of dollars to another country's war and will " hope" we don't go into a recession. I hoped all that money went to our citizens but we all can't get what we want.
+20   

 6 months ago '17        #7
Ifeellikekobe  topics gone triple plat - Number 1 spot x8
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He better pray to God Cus President Joe Manchin won't let him do anything. That clown just said we should wait until the January inflation numbers before passing any legislation

 6 months ago '17        #8
Ymmot  topics gone triple plat - Number 1 spot x5
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Goat Prez!!
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Top 10 most propped recently  6 months ago '12        #9
daman729 
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Get a side hustle(if you have to). Fixing PCs, babysitting, catering, lawn care, etc. You can't trust these fu*kin politicians and the sh*t they say. You gotta sustain yourself financially because people arent gonna baby you.
+15   

 6 months ago '17        #10
Ymmot  topics gone triple plat - Number 1 spot x5
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 daman729 said
Get a side hustle(if you have to). Fixing PCs, babysitting, catering, lawn care, etc. You can't trust these fu*kin politicians and the sh*t they say. You gotta sustain yourself financially because people arent gonna baby you.
fu*k a side hustle, get a good career. My side hustle is going on vacations and expensive dinners.
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Top 10 most propped recently  6 months ago '12        #11
daman729 
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 Ymmot said
fu*k a side hustle, get a good career. My side hustle is going on vacations and expensive dinners.
I glanced at your comment and was gonna say something more specific in relation to the topic. Then I went back and saw the second sentence you wrote. And that sh*t told me all I needed to know about you.

+9   

 6 months ago '17        #12
Ymmot  topics gone triple plat - Number 1 spot x5
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 daman729 said
I glanced at your comment and was gonna say something more specific in relation to the topic. Then I went back and saw the second sentence you wrote. And that sh*t told me all I needed to know about you.

There are plenty of high paying careers available, you just need a decent education.
-12   

 6 months ago '18        #13
addth3sauce  topics gone triple plat - Number 1 spot x1
Props total: 10749 10 K  Slaps total: 768 768

+8   

 6 months ago '05        #14
Daddy Black 
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 daman729 said
Get a side hustle(if you have to). Fixing PCs, babysitting, catering, lawn care, etc. You can't trust these fu*kin politicians and the sh*t they say. You gotta sustain yourself financially because people arent gonna baby you.
That’s cool and all but you don’t need all that anymore. A good job is fine. Lots of in demand careers that’s paying well over six figures and you can get the education for it in a year or less.
+3   

 6 months ago '07        #15
acwmich 
Props total: 3988 3 K  Slaps total: 1119 1 K
 lltreyll said
Stocks tanked, everything costs more, people are broke and not spending as much on goods and services as expected. Interest rates may be raised not just once in a few days, but possibly again within as short as about a month's time..And that's just 2022 so far.

Call it what you want but all kinds of sh*t is still fu*ked up.. Were all still trying to adjust to the turbulent times since covid hit. Speaking of which covid didn't go away, and that monkeypox sh*t is rapidly spreading too. Fall and winter is sure to make the spread of viral infections worse. And the chance of America fu*kin around and going to war is there too.

So sh*t isn't all good in America, and more importantly the near future of America won't be any better. Who knows when things will settle, but using the buzzword "recession" and saying we aren't in one doesn't change how fu*ked up sh*t is and will be in America.
You know how you contract monkey pox right???
+1   

 6 months ago '16        #16
kuul  topics gone triple plat - Number 1 spot x12
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He could be dead in a couple months, so he dont give a sh*t if its true or not. Could trump get hit with a rico in georgia?

 6 months ago '10        #17
lltreyll 
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 acwmich said
You know how you contract monkey pox right???
All it takes is skin to skin contact from an infected part of someone out in public somewhere. Not being aware that it can be spread like that instead of still thinking only guys that fu*k other guys can get it is why the sh*t is sure to spread a hell of a lot more.
+2   

 6 months ago '05        #18
bobbysteels18  topics gone triple plat - Number 1 spot x44
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A recession is two consecutive quarters of negative growth, Thanks Joe It was all good in December of 2020, how did this guy mess up a good economy so fast.
+7   

 6 months ago '22        #19
ITookTheRedPill 
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 Ymmot said
fu*k a side hustle, get a good career. My side hustle is going on vacations and expensive dinners.

Insecurity can show up in many ways, including arrogance or low self-esteem, to name just two. Ultimately, insecurity comes from the ego and shows that you do not accept yourself the way you are. The following signs of insecurity indicate that you should get to know and love yourself better.

Insecurity comes from our fear of ‘not having enough’ or ‘not being enough’. These fears are ego based. When we are insecure, we worry about what others think of us and do not have a strong sense of self and healthy self-esteem. Here are a few signs of insecurity that could mean you need to shut out the voice of the ego and be true to yourself.

Boasting
One of the most common signs of insecurity is boasting about what you have and what you have achieved. Insecure people boast to try to impress other people. They do this because they fear deep down inside that there is something about them that is not good enough. They then become desperate for validation from the world outside.


+12   

 6 months ago '18        #20
Dehone 
Props total: 93088 93 K  Slaps total: 5411 5 K
You can't a*sess a certain outcome and then throw it to God. That negates everything and says "I hope sh*t doesn't go wrong"


Even if that number is negative, we are not in a recession now,” Treasury Secretary Janet Yellen said Sunday on NBC. “And I would, you know, warn that we should be not characterizing that as a recession.”

Useless when just a few months ago she was saying how she fu*ked up and realized the economy is worse off then initially thought and recovery was nowhere in sight

+6   

 6 months ago '18        #21
ChrisPartlowFro 
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Hearing some grim predictions. Time will tell.

 6 months ago '17        #22
QdobaCasanova 
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 ITookTheRedPill said

Insecurity can show up in many ways, including arrogance or low self-esteem, to name just two. Ultimately, insecurity comes from the ego and shows that you do not accept yourself the way you are. The following signs of insecurity indicate that you should get to know and love yourself better.

Insecurity comes from our fear of ‘not having enough’ or ‘not being enough’. These fears are ego based. When we are insecure, we worry about what others think of us and do not have a strong sense of self and healthy self-esteem. Here are a few signs of insecurity that could mean you need to shut out the voice of the ego and be true to yourself.

Boasting
One of the most common signs of insecurity is boasting about what you have and what you have achieved. Insecure people boast to try to impress other people. They do this because they fear deep down inside that there is something about them that is not good enough. They then become desperate for validation from the world outside.


Shut up, broke bi*ch
-4   

 6 months ago '17        #23
PackerTrelli3  topics gone triple plat - Number 1 spot x21
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Old a*s n*gga with bad vision
+2   

 6 months ago '15        #24
Djkataz 
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His old a*s won't he probably die before

+2   

 6 months ago '05        #25
bi0  topics gone triple plat - Number 1 spot x2
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Ain't bout to listen to nicca who barely making it though COVID infection.
+4   



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