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  • The Horror

    From Technobarbarian@21:1/5 to All on Thu Jul 28 08:01:16 2022
    The *horror* staring us right in the face. We're about 0.6% less prosperous than we were 6 months ago.

    "Gross domestic product fell by 0.2 percent in the second quarter, after
    a 0.4 percent decline in the first, fueling fears that a recession may
    have already begun."

    "Most economists still don’t think the economy meets the formal
    definition of a recession, which is based on a broader set of indicators including measures of income, spending and employment. The G.D.P. data
    itself will also be revised several times in the months ahead."

    https://www.nytimes.com/live/2022/07/28/business/gdp-inflation-news

    Yeah, this boogieman is HUGE.

    TB

    --- SoupGate-Win32 v1.05
    * Origin: fsxNet Usenet Gateway (21:1/5)
  • From Technobarbarian@21:1/5 to Technobarbarian on Thu Jul 28 09:56:45 2022
    On 7/28/2022 8:01 AM, Technobarbarian wrote:

         The *horror* staring us right in the face. We're about 0.6% less prosperous than we were 6 months ago.

    "Gross domestic product fell by 0.2 percent in the second quarter, after
    a 0.4 percent decline in the first, fueling fears that a recession may
    have already begun."

    "Most economists still don’t think the economy meets the formal
    definition of a recession, which is based on a broader set of indicators including measures of income, spending and employment. The G.D.P. data
    itself will also be revised several times in the months ahead."

    https://www.nytimes.com/live/2022/07/28/business/gdp-inflation-news

        Yeah, this boogieman is HUGE.

    TB

    There's a chart here that explains our terrible plight even
    better. At this point, despite the horrible 0.6% drop in the GDP, we are
    still more prosperous than we were in the dark days of 2019 or at any
    point before that--ever.

    https://www.washingtonpost.com/business/2022/07/28/gdp-q2-2022-economy-recession/

    TB

    --- SoupGate-Win32 v1.05
    * Origin: fsxNet Usenet Gateway (21:1/5)