White House says a second consecutive quarter of negative GDP 'unlikely' to be indicative of recession
Category: News & Politics
Via: vic-eldred • 2 years ago • 241 commentsBy: Adam Sabes (Fox Business)
S E E D E D C O N T E N T
The White House Council of Economic Advisers said on July 21 that even if Friday's advance estimate of the country's GDP is negative, it's still "unlikely" to be indicative that the country is in a recession.
Recessions refer to two consecutive quarters of negative economic growth.
In a blog post, the council of economic advisers says that two consecutive quarters of falling GDP doesn't mean the country is in a recession.
"What is a recession? While some maintain that two consecutive quarters of falling real GDP constitute a recession, that is neither the official definition nor the way economists evaluate the state of the business cycle," the blog post states.
President Joe Biden speaks about the economy and the final rule implementing the American Rescue Plan Special Financial Assistance program, protecting multiemployer pension plans, at Max S. Hayes High School in Cleveland, Ohio, July 6, 2022. ((Photo by SAUL LOEB/AFP via Getty Images) / Getty Images)
Citing figures from the National Bureau of Economic Research, the post states that their "recession indicator variables" have "exhibited strong growth in the U.S. economy since the start of the pandemic, and have continued to expand through the first half of this year."
Even if the Bureau of Economic Analysis' advance estimate of the second quarter GDP shows a negative number, the blog post says the country is likely not in a recession.
"Based on these data, it is unlikely that the decline in GDP in the first quarter of this year — even if followed by another GDP decline in the second quarter — indicates a recession," the post states.
Meanwhile, inflation surged to a new 40-year high in June, reaching 9.1%.
On NBC News' "Meet the Press," Treasury Secretary Janet Yellen said the economy is not in a recession but rather one that's in a "period of transition" where "growth is slowing."
Treasury Secretary Janet Yellen testifies before the House Ways and Means Committee on Capitol Hill, June 8, 2022. (AP Photo/Jose Luis Magana, File / AP Newsroom)
"The labor market is now extremely strong," Yellen said. "This is not an economy that's in recession, but we're in a period of transition in which growth is slowing. And that's necessary and appropriate, and we need to be growing at a steady and sustainable pace. So, there is a slowdown, and businesses can see that and that's appropriate, given that people now have jobs, and we have a strong labor market."
Republican National Committee spokesperson Will O'Grady told FOX Business that "redefining" what a recession is won't fix some of the legislative actions that Democrats have taken.
"Joe Biden turned a recovery into a likely recession. Redefining the word will not fix the fact that Democrats wasted $1.9 trillion, resulting in skyrocketing costs for Americans. This further underscores how out of touch Biden and Democrats are with the pain families are feeling," O'Grady said.
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Basic Economics: Two consecutive months of negative growth = a Recession.
Biden's handlers are trying to get out ahead of the coming second quarter report.
Why do they think the people are so stupid as to be gaslighted about the economy?
For the past month the Administration has been stating that this is really just a rule of thumb and the official designation can only be made by National Bureau of Economic Research. Problem is this bureau doesn't make it's reports for at least another 18 months so we may not get the official determination until after the recession has ended. Nothing quite like a politician finding a way out of bad news, is there...
Biden will continue to tell us inflation is only temporary and that America is doing just grand. And when the numbers don't back the lies up, he will simply attempt to redefine anything that goes against his preferred narrative.
Wrongo! A recession is two consecutive quarters of negative growth!
They are about to announce the second quarter of negative growth. By your definition we will officially be in a recession.
Yes, and the context shows it to be a typo.
Right Quarters.
Because Bidenites are gullible and distracted easily.
And down .9% it is............................
Because far too many people are easily duped. Politicians and marketing/advertising firms would be in trouble if they could not so easily manipulate perception.
Note: JBB's correction @1.2
You can't fool people who are paying $2,000 more a year for gasoline and $3,400 more a year for necessities.
Follow your facts right to the November election.
You are deflecting. Of course people will understand inflation because they see the prices in front of their faces. That is NOT AT ALL what I was talking about (and neither were you). People are easily duped as to the reasons for what they see, not what they actually see. So everyone of course knows that prices are ridiculous right now. However the duping comes with the explanations for why this is the case.
In short, few people have a good grasp on economics; and this is not surprising since a socio-economic/political system such as ours is very complex.
Now as for your November comment, well of course the Ds will take a hit due to inflation. That is people reacting to what they currently see and feel regardless of explanation. This is why "it's the economy, stupid" in politics. It is not due to the precise nature of economic dynamics or long term consequences but rather the immediate effect on the individual: availability of desirable good paying jobs, prices, availability of products and services.
And you intend to do some duping?
What are you talking about now Vic?
Seems to me you have ignored my thoughtful comment and directly turned this personal. Surely you would not do that.
That would be your MO.
Are you out of descriptions today?
Have a good one.
One comment in disagreement and you leap to making it personal.
Exactly how many ways will the Biden Admin. spin the economy?
Democrats would be well-advised to address some of the issues of the economy rather than pretending all is well.
I know the January 6 commission is willing to drag the 'hearings' out until the midterms (or longer), but do Democrats not realize that people tend to vote based largely on their own finances?
How out of touch is the Democratic Party with real voters?
Just redefine problems away.
Well, lookie, lookie, a full employment recession. The labor participation rate is recovering. Wages are up. Consumer demand remains high (consumers don't seem to be paying attention to the Federal Reserve)
It appears that GDP growth, vaunted by financial wizards, has been completely dependent upon government spending. And the government isn't giving the financial sector free money right now. The cost of deficit spending has gone through the roof.
It's beginning to look like any recession is going to be contained within the financial sector. And the government won't be able to bail out the financial sector with phony growth fueled by free public money.
nerm , and what numbers do voters actually look at from day to day ? it isnt what you have pointed out .
They look at their day to day cost of living and everything that entails , and how does that picture look ?
they look at what they are bringing in as pay , vs what they are paying out , that will be the biggest factor this mid term election .
some democrat startagist said years ago ,"It's the economy stupid " and the economy to most voters entails exactly what i said , not the government numbers .
this may very well be a "vote with my wallet " election . Someone said that Biden isnt on the ballot , that is true , but his actions and policies are if it affects voters wallets .
food for thought .
I never heard of a recession with full employment before.
There isn't any doubt that kitchen table economics concerning prices and employment are important. But voters have been trained to compare kitchen table perception of the economy to health of the overall economy measured by GDP. When kitchen table economics and GDP growth are both bad then the overall economy really, really sucks.
Biden dumped 8 pct of GDP into the economy with his $1.9 trillion COVID relief pander. The Federal government has been pumping money into the economy to directly address the COVID pandemic, too. Altogether the Federal government has pumped about 10 pct of GDP into the economy. As a result GDP growth looked fantastic but it was phony growth. Since the cost of deficits have increased dramatically the government cannot afford to soften the withdrawal of government money and wind down that phony growth.
So, yes, the United States is going to experience a recession. But it's going to be a full employment recession. The real economy might experience a weak recession but it's quite possible that the real economy won't experience a recession at all. The financial sector may be forced to absorb all the deflationary pressure of a recession. And that's going to drive inflation higher because the financial sector won't take a haircut.
IMO inflation is being driven by the financial sector trying to maintain growth without free money from the government. Consumers pay for everything -- including phony GDP growth.
You've never paid $5 a gallon for gas before.
How cute. You're buying into the propaganda.
Haven't paid it now, but have paid over $4/gallon previously. Several times.
Recession of 1945. At the end of the war, government spending dried up very quickly (causing a sharp decline in GDP by 11 pct) but unemployment didn't increase.
Good info on the BLS definition of "full employment" HERE :
If the GDP is trending negative, especially for two quarters, good chance that is a sign that the economy is not running at full capacity nor utilizing all its resources. So technically not "full employment", particularly when the "unemployment rate" does not include those who are no longer looking for work, even if able. Extended unemployment benefits and other policies that pay people not to work can severely skew the unemployment figures while the ranks of the actual unemployed continue to grow. This is certainly evident in California where the homeless population has exploded in recent years.
The article also discusses the impacts of inflation on unemployment rates and the definition of "full employment".
I’m still trying to figure out with “historically low” unemployment, how so many businesses are still looking for employees. It’s across the board in most all business sectors.
Did we suddenly add a bunch of new “post COVID” jobs?
Nope. I predict it will come to light that unemployment numbers are being cooked post COVID. Stay tuned ......
I have the same question. My hypothesis is that COVID-19 (and the related measures) encouraged a bunch of baby boomers to retire. I do not see anything else that would cause such a surplus of jobs. And I do not see how people could simply quit working and survive. Certainly the youngest workers could move back home, etc. and that would have an effect, but the baby boomer retirement hypothesis strikes me as the most likely culprit.
FUCK THAT and the fuck they are .... when my youngest moved out after the divorce all the locks got changed .....
as for the rest of it , i seriously considered fully retiring when i turned 60 a couple months ago, i have been semi retired since i was 48 and simply cruising taking jobs I wanted and even then what i earned staying busy , i used to fund my fun time since everything else is covered .
So i think that hypothesis is likely correct , those that could decided they had enough .
LOL
Well, around here we have a plethora of entry level jobs that are going unfilled. Restaurants are closing because of it, many others are cutting hours because of it. Same for entry level construction jobs and the list goes on.
Doubtful many Boomers, old enough to retire, were filling those entry level jobs. I think there is more at play here. As in how the unemployed are counted versus in the past.
Can’t really explain it other than that.
Clearly not. My assumption is that they held jobs that one would expect from a long career.
The boomers left jobs that needed to be filled. Those filling the jobs left jobs that needed to be filled.
This works its way down to the entry level jobs.
Hard to believe entry level workers are suddenly filling those jobs being left by boomers that had decades of experience. I just don’t see it. I have no doubt boomers are retiring, perhaps in larger number than anticipated but I don’t see it as the main cause here.
More like the unemployment numbers aren’t counting workers who stopped looking for work.
Yes that would be hard to believe. Did someone suggest that the career jobs of senior workers (baby boomers) would be filled by the workers from the entry positions?
I certainly made no such suggestion.
I suggested this:
This is a recursive process where the vacated jobs are filled by the next level of workers whose jobs are then filled by the next level of workers ... all the way down to the entry level where we experience much of the vacancies.
I think that is part of it. I also think that many of the youngest workers might be relying on their parents. But what I suggested is what I think is the more dominant factor.
Perhaps but something is still funky about the low unemployment numbers with so many job openings out there. It isn’t just entry level jobs.
I personally know cops with years of service that left their jobs to work in the fast food industry. Certainly more than one reason for that switch but the big one is they could make more money with the increase fast food had to make in wage to attract bodies. Especially with inflation chipping away at nearly everything. People need the money.
Thats just one circumstance. In the construction industry apprentices are in short supply, our public schools are advertising for teachers where there used to be a long waiting list to get in. Banks around here are cutting hours because they can’t staff their teller stations. Recruiting numbers for all the branches are down. Etc, etc.
I’ve been through several recessions/downturns as bad or worse than this. Unemployment numbers almost always went up.
Something just doesn’t track. Even considering your reasoning.
Of course. This is a very unusual phenomenon we are witnessing. I have offered my hypothesis but I am not suggesting that this is a complete or even definitive explanation. It is what I have deduced after pondering this phenomenon.
My hypothesis does not include the assumption that all jobs on the higher levels are filled from lower levels. It makes sense that filling the holes left by boomers would enable people to rise in the ranks (get better jobs) and that would certainly leave entry level holes. But that does not mean we would be able to fill all the holes left throughout the hierarchy. One would expect holes throughout.
That thought crossed my mind too, but the methods for calculating unemployment have not substantially changed in quite some time. There is the "official" unemployment rate (U-3) that does not take into account those not looking for work prior to the last 4 weeks for various reasons, nor the underemployed. In those categories is where I thought there might be some funny business in masking the full picture, what with extended Fed and State unemployment benefits and people simply not wanting to work, or discouraged from looking/working, so they aren't looking to work recently, and yet are not counted as "unemployed". The U-6 measure of unemployment, sometimes referred to by economists as "real unemployment", is defined by the BLS as " total unemployed, plus all marginally attached workers, plus total employed part time for economic reasons, as a percent of the civilian labor force plus all marginally attached workers". It covers a much wider definition of able bodied workers and their level of participation in the workforce. That number is typically much higher than the U-3 official number, some places almost twice as high. See BLS article HERE .
I rather expected to discover a widening of the gap between the U-3 and U-6 numbers as evidence of a certain amount of "cooking", but I have not been able to prove that the gap has appreciably widened. HERE is an interesting graph that tracks the U-6 vs. the U-3 over time. So other than that, I am not sure how the numbers might be "cooked".
Hopefully time will tell.
I can’t past reality ..... what the unemployment numbers supposedly say. Job openings everywhere, record inflation and yet record low unemployment numbers.
It just doesn’t track.
Wouldn't a surplus of job openings naturally result in low unemployment numbers ? Maybe I'm missing something.
In a booming economy, yes. We are hardly booming right now. Just the opposite for the most part.
Jobs that existed before COVID-19 aren’t being filled. Many have simply disappeared. We aren’t talking unfilled new jobs here from what I’m seeing.
It does not matter if the unfilled jobs are old jobs or new jobs. They are still unfilled which means that there exists capacity for unemployed workers to find jobs. That is, the jobs exist and thus unemployment should reduce as people fill those jobs.
The question is why? Are companies not hiring due to lack of market demand for products and services? If so, those jobs are not active jobs and should not be considered as jobs. Are they hiring but unable to fill the (active) jobs? I think there is something to this latter question. It sure seems as though many who normally would be working (in their prime working years) are not; that they are not trying to have jobs. How they survive is an interesting question and I am not satisfied they can survive simply living off of the public trough. Living with parents? Part-time and sharing cheap housing? ???
It does matter. Newly created job create new capacity for job seekers. Old jobs were already there. The more new jobs created, the more employees required to fill them.
I haven’t looked nationwide but around here there aren’t a lot of new jobs being created and in fact total jobs available, filled or otherwise, has likely contracted with all the businesses that had to close due to covid. Old (already existing) jobs aren’t being filled.
Again, it just doesn’t track.
Part of the unemployment issue, is as you say, retirements at the beginning of COVID. Then post shut down there was a demand frenzy - a major reason for the inflation. That in turn required more hiring and wage increases. The is also a rise in gig economy workers who once worked in the service industry (lowest paid jobs with the worst working conditions). And a smaller rise in people opening their own businesses where they are the only worker OR have very small staff numbers.
No, it does not. An old unfilled (but active as I described earlier) job is identical to a new unfilled job in terms of potential jobs to be filled. 10 old (but active) unfilled jobs is a capacity of 10. 10 newly created jobs is a capacity of 10.
Can’t explain it any better tig. We disagree and I really don’t feel like getting into another one of your argumentative “debates.”
As usual I stand by everything I posted here.
I explained it @4.2.17 and I fully understood what you wrote. I just disagree and explained why.
Yes we agree … that we disagree. My body of work above more than explains my counter position.
No more debate required
I've been reading that as well. I wish that there had been those opportunities available when I was younger.
As long as the gig economy pays well, the workers have some flexibility about working part-time and setting their own hours.
The companies that can and will offer jobs with good pay and a work/life balance will have fewer job vacancies than those that don't.
Many people are probably making more money working part-time in the gig economy than they did working full-time in the service industry.
We’ll, if they aren’t making at least 10% more right now in the US they are still falling behind. Theoretically that is.
Actually it’s much worse than that. Gasoline is over double what it was. Most food is over 10% of what was. Etc,etc.
I have read several news releases about this issue that has been ongoing for years.
more info from Oct 2019
Not surprising, a good fallback position might be to blame some men's lack of motivation/achievement on their most popular scapegoat - women.
From 2016.
I agree.
I was in support of a $15 minimum wage years ago. In today's economy, I am not sure what it should be.
I worked a full-time job for $10 an hour over a decade ago. After gas, vehicle upkeep and taxes, I was clearing maybe $240 a week.
It was a mind-numbing office job that was easy enough. I couldn't deal with the ME, ME, and ME constant chatter of the ME, ME, and ME crowd.
I am one of the people who have worked the gig economy through temp agencies whenever I could when I wasn't employed on a farm making life or death decisions for livestock that often involved my life being put at risk to save theirs.
One of my favorite posters says: "I love horses, people make my head hurt."
I did 1099 IT work for over a decade. There are no benefits, bonuses or unemployment if you can't make your bills. I moved to S Corp filing and then just folded the whole thing to work full time for my longest client. I'm making more money and have less stress. The only think I miss is going home early, but even that's changing here now that I only work until noon of Fridays during the summer. My vacation policy is - "Don't abuse it." LOL.
No doubt some are. I've talked to a few and some of them are working 60 to 80 hours at 2 or more gig worker companies (like Uber and Doordash) at the same time to make enough money.
I don't know if this guy is employed or not, he has almost 11 million subscribers on his yt channel so that may be a source of income. I can see where this would be a lot more fun that flipping burgers or waiting tables.
A lot of the younger generation are seduced by the prospect of being YouTube media giants. Trouble is, this is a very difficult path to make the kind of money one needs to have a decent lifestyle. Some make it big, most do not (but are ever hopeful, no doubt).
Decent for some might be parents with a basement and room service provided by parents.
There are youtube stats at the link below.
That is temporary and only applies to 'kids' young enough to pull that off.
How do you interpret those stats? That is, does that translate into YouTubing is a good career move? It does not at all translate that way in my mind.
As I noted, some make it big. Just like some who play baseball make it big, some actors make it big, etc.
I have known "kids" in their 60s that were still living at home when their parents' died.
Some parents don't want at least one of their kids to ever leave home or will move them next door. This seems to be those parents' retirement plan to have a caretaker in old age.
Sometimes, multigenerational households are part of an ethnic or regional group's culture.
Society is changing because it has to based on money, or lack thereof.
Recent article.
I agree that it is not a career move, but then we are not talking about you and me.
We are talking about people who are looking to avoid flipping burgers or stocking shelves like a robot for decades of their life. Many are probably not college material even if education was free. Maybe if we had more trade schools to give more career options to teenagers, there will be a reversal of the trend of delaying leaving home to avoid struggling to pay all of the necessary bills just to survive.
It is very difficult for these individuals to make a livable income trying to become a YouTube media star. They will spend years building up a base that is suitable for monetization. And as with actors, most will fail.
I agree.
Until their support system ends, or there is more economic opportunity, what will ever motivate them to change their current living standard for a lessor one if they leave home?
Gasoline is already down by a buck a gallon...
how is the stock market today compared to January 2021?
The Dow was about 26,900 on Election Day 2020 and it is above 32,000 today. It started to rise again as soon as Biden won...
always funny when you don't want to answer what was asked
Stocks rose when Biden was elected and rose more from the election to inauguration...
still avoiding
The DOW and S&P500 is floating around where it was when Biden was inaugurated. The NASDAQ is down more than 10 pct.
And inflation has soared since his inauguration. No "gain" for anyone except for politicians who deal in insider trading and stock options.
Yes, inflation has soared since Biden's inauguration.
The median CPI is 6 times higher since Biden took the helm. And it's much, much higher than it has been over the last 40 years. Of course, that's Trump's fault or Putin's fault or China's fault or oil company's fault or climate change's fault. Funny how Biden never points a finger at the financial sector. Wonder why Biden hasn't been talking about health insurance since taking office?
Inflation soared globally as the pandemic began to fade. If you read from real news sites you'd know that.
So, now it's the world's fault?
Seems like everyone contributed to inflation -- except Joe Biden. What a guy.
“Seems like everyone contributed to inflation -- except Joe Biden. What a guy.”
So it is a single individual’s responsibility? What a crock.
Exactly, even though Presidents from both Parties like to take credit for great economies (see Bill Clinton), it's a crock to blame them for problems.
Agreed.
I'm sorry that my sarcasm wasn't self evident.
Perhaps you were trying too hard. Always an element of truth in sarcasm, eh?
Eh.
meh
I didn't state who's fault it is. Read my post again.
Today, the DJIA is 31,990. Jan 1, 2021 the DJIA was 30,606.
Note that when COVID was emerging the DJIA hit its recent low of 19,173 (March 20, 2020).
It is very silly to attempt to correlate a PotUS with the stock market. The PotUS will get the blame or credit, of course, because the electorate is very emotional, short-sighted and largely ignorant of the complexity of our socio-economic/political system. But that does not make this practice of using the stock market as a measure of a PotUS correct.
For example, if the market continues to rise through the midterms, will that be a result of Biden's actions? (Unlikely.) The Ds will say 'yes' and the Rs will say 'no'. And if 2024 yields an R PotUS and the market finally declines in 2025 due to natural dynamics (rather than major exceptional events such as COVID-19 or a significant war) will that be the result of the R PotUS? Here, of course, we all know the Ds will say 'no' and the Rs will say 'yes'.
This is a silly game.
It is a crock to credit them too. Seriously.
Yep, a guy who has not been responsible for anything bad for nearly 50 years of public service ...... amazing!
Oh, I see, she tacked on a little insult.
That's funny?
Neither did I state who's fault it is. Read my post again. @5.1.7
She's cute that way, juvenile but cute,
Flag it, like everything else I post
What insult?
I'm not the topic of your 'article' either though you and DOTW are making me the topic
I'm not flagging your posts.
You don't think so?
By responding to you?
I'm sorry that the sarcasm wasn't self evident. Seriously.
It is difficult to detect sarcasm given some of the 'remarkable' positions some people take.
Where? Average US price per gallon at peak June 13, 2022 to week of July 18,2022 $5.107 compared to $4.599.
he uses that magical Biden math
Gas is $3.99 at the Conoco in The Bronx today.
gas buddy says you are wrong
Peak in South Carolina, where I work, was $4.609. Today it is $3.86.
So do they ^^^^^^^^
The peak i saw here was in june at $5.02 in a small podunk scenic town , its been hovering over the past month in the $4.70- $4.90 range . IF i want to change my route to go see the grandkids , i CAN find it as low as $3.72 .
i am being very thankful i get 28-31 MPG highway . and thats with a 20+ year old vehicle .
Really? That's a miracle! Two days ago, it was $4.47/cash.
As noted by Just Jim prices are going down daily.
Isn't that the method that requires you to be bashed in the head with a ball peen hammer?
That's the only way it would make sense.
And you think the human fuck up in the WH deserves credit for that?
He described SC prices. Your comment was about Bronx, NY, and I gave you Gas Buddy's prices for the Bronx and averages for NYC which are higher than what you claimed in comment 5.2.2 . Big difference.
It seems fair since Biden released reserved to lower costs...
Well, I suppose a drop of around $.40/gal by recklessly depleting our emergency reserves gives Biden a gold star for effort.
What street address is this gas station in the Bronx, because EVERYTHING I can find tells me it is much, much higher than what YOU claimed.
Sounds like you made it up to me, since you provided no evidence and no reputable source says otherwise.
I used Gas Buddy to find Conoco stations in the Bronx. All of them are way above $4.00/gal/cash.
With that train of thought then the higher prices are all on him. It seems fair.
Wow--way to avoid telling me what I asked!
Just can't admit you made it all up, eh?
Gold star. That seems to be the mentality of the Bidenites. "I did good. Where's my sticker?"
Where are the markings to identify exactly where that sign is located?
Photoshop Deluxe Edition.
No it's legit..............from June 2nd of 2011.
and the yellow coloring of the sign has SHELL written all over it.
Not even a nice try JBB /SMMFH
It looks like that image is Lansing, MI in 2012.
The exact pic is in my link. All you have to do is right click on it (if you are using Chrome as your browser) and "Search image with Google Lens" comes up and voila.
He must think we are as dumb as the Democrats who insist there is absolutely nothing wrong with the country, despite even a fair amount of other Democrats saying we are heading in the wrong direction!
So the last time a Democrat was in office. Imagine that, gas prices rose then too. I'm seeing a pattern.
Busted! Gas Buddy show gas in the Bronx today ranges from a low of $4.23 to a high of $4.53
Well done! The Obama/Biden administration. Some things never change.
I comment on a number of social media sites, and many are left wing. What you said is true. It's very easy for Independents and Conservatives to prove the radical left wrong, mostly because many of them assume they don't have to provide documentation for their radical claims.
You do realize that Biden has to replace every last gallon of oil he is releasing right?
What happens to gas prices when he finally runs out of surplus and has to restock?
They don't care about that. He and the climate change cult probably hope that we'll never have catastrophic hurricanes, earthquakes, tornadoes, or blizzards ... because they (and we) know that their Chinese-made windmills will never be able to produce and store enough "(green) energy for weeks to months.
It doesn't matter, Jasper.
The rule here is when a leftist posts something, you are to accept it, no matter how much bullshit you know it is.
Gas will skyrocket and there probably be a shortage.
“The rule here is when a leftist posts something, you are to accept it…”
The ‘rule’ bugs?
Do you not have every opportunity to disagree and state your own opinion? Does just jim not have every opportunity to vote you up?
No exclusivity hereabouts…equal opportunity to offend, only the thin skinned choose to whine about it.
I just have to laugh at what he thinks he can pull off here without getting called on the obvious bullshit.
Surely he knows by now we won't just accept things at face value after incidents like this one.
[deleted]
“The expectation…”
That is solely defined…you and you alone define left, right, and center.
All are better served when all viewpoints are considered and open to debate…not condemnation.
That being said, thanks to those that provide this venue.
Wow, busted lying. So much for any credibility you might have had left.
Now where did JBB run off to?
I guess the whole thing was made up as he STILL can't give an address where this mythical gas station is at.
I would be ASHAMED for making shit like this up.
Can't believe in this day and age he thought he could snow people with that weak-ass crapola!
I guess even he is embarrassed by this fiasco.
WHAT CREDIBILITY??????????????????????
Wookin fo nub in awl da wong paces ......
Maybe he'll claim authorship of that song next...........
eddy murphy has that one when he did an SNL sketch as buckwheat .....
The credibility in his own mind.
I am sure he will be back soon and ignore it happened.
Ain't that something jbb? They question your information and say you're lying
Average price in PA today is $4.555.
Naw--he got caught in his lie and now has taken a powder.
He never did provide the imaginary address of that imaginary gas station, did he?
And decisively so!
But still up 1.80 from the day dumb fuck took office in Jan 2021. And before you parrot Putin did it, it was up about 1.50 before he invaded Ukraine.
This ALL falls under dumb fuck in the White House today.
Only because demand is down because nobody can afford to fill their tanks.
Morning Arky..
Our petrol prices here have dropped was $2.10 a litre now down to $1.80...no explanation why but we will take it though...
Usually get some bull dust story about world prices blaming everything from COVID to someone sneezed somewhere...🙄
The petrol prices are up and down like a dunny (toilet) lid...I just look at it you need it so have to buy it...no public transport where I live...
doing the conversions for US dollars and from metric to imperial , that would make it about $5.01 USD per gal .
Arvo Mark...
Just as well you don't live in NZ $7.24US a gallon over there...😬
Right now its in the $4.70 range with a 10 cent spread as of today , can find it cheaper though if one looks .
You should go to the Bronx, rumor has it is only $3.99 a gallon there................
they just want our nubs .....
gas buddy says a couple places in Casper,Wy have it for $3.72
I average 6 gals for a 200 mile trip to see the grandkids , thats abuck a gal savings , Oi ! thats enough for a 6 pack of cool ones
The reason we have regular price falls ( I got this from a source in the industry ) :
(Very simply ) The quotas the various companies get to refill their stock depends on their previous month's sales - hence the need to drop retail prices to increase sales, once they have their allocation back up goes the price !
We'll have an extra price rise end September when fuel tax is reinstated to its previous level !!
And still nearly double what it was before Biden took office.
Another Biden blunder ....
Only because biden's high prices and high inflation rate made everything so expensive no one can afford to drive anymore and the demand has gone down. It not because of anything Biden has done.
Other than the obvious grammatical difference, how, pray tell, is 'transition' different from 'transitory'?
Economists and CEOs seem to disagree with where the economy is headed. Jamie Diamond says a "hurricane is coming" while his own chief economist disagrees saying he doesn't see any storm coming. Unemployment is low, wages are up and people are spending - which is all good. Inflation is high and not slowing, interest rates are rising in return and skepticism is creeping in - these are bad. The question is can the Fed right the ship without tipping it over.
That said all the partisan propagandists are out running around trying to counter messaging each other during an election year. My point here remains - the economy is tricky and complex and even the experts don't agree.
You remain on point. Not only is it the world's largest (GDP), it's very diverse across multiple sectors, our economy is interconnected in the global economy. We are the most important export destination for about 20% of the world's countries , the dollar is the most widely used currency in global trade and financial transactions, and changes in our monetary policy and investor markets play a major role in driving global financing conditions.
The ''experts'' think that the feds will raise the interest rate by .75 and some are predicting a full point.
There is a lot of contridictary expert opinions out there currently.
None of it stops the talking heads from making talking points for the mid-terms.
If the feds come in with a quarter or half point increase the talking heads will explode.
No doubt. I'm not convinced the Feds will do anything, or if they do, what they'll end up doing. There are some signs of economic slow down. Manufacturing is down which is, but one sign. Another is a glut of inventory at some retailers (the supply system finally caught up for a few companies). Mortgage companies have stopped hiring and a very few companies (looking at you Elon <- you fucking tool) are reducing their workforce.
So I wouldn't be surprised at whatever number they come up with, or no number at all.
LOL... Unrelated but still surprising is that ex-CEO, and majority stock holder, Vince McMahon retired from the WWE and is now under federal investigation after that news (on Friday) caused a 9.51% rise in the stock price.
Joe Biden doesn't need Republicans' prayers for that. He and his administration are doing a spectacular job in destroying the USA all on their own.
What we really pray for is an honest Democrat
That's more fictional than the unicorn.
That is one huge oxymoron
Light on the oxy, heavy on the moron.
Question of the day:
How is it that one man who has been in public service since 1970, while doing nothing right except peddle influence, eventually brought down the greatest nation on earth?
What in Hell are you talking about? Donald Trump is the only politician who has came close to "bringing down America". As of now, nobody managed it and the only people trying to are Trumpist election deniers!
Lol .... only to those who see the color of the sky to be pink or mauve or perhaps chartreuse.
Oh, things like a great economy, fair trade deals, public safety and border security. I guess for others it's all about abortion, victimization and green energy.
That's where we disagree, I guess.
It's kind of grey over the Grand Concourse today.
Yeah but mean tweets ..... meanwhile angry Joe regularly insults large swaths of Americans and the left is radio silent .... classic.
Joe said he was going to "unite us."
Lol .... “unite” is what Susan Rice tells him it is.
She exemplifies what has happened in Washington DC since Trump became President. Left-wing sentiments have long existed among members of the democratic party, but were merely simmering below the surface until Trump came along. Now we are seeing how they really feel about this country, our Constitution and the American people.
You may recall that under Obama, Rice handled a foreign policy on Africa in which she hid U.N. reports providing extensive evidence of official Rwandan and Ugandan support for the infamous M23 rebel group. Rice sent a delegation to the UN to block any mention of it.
Rice is now in charge.
Somebody's drinking the Kool Aid!!!!!!
By his own standard on the Corona Virus, Biden should step down with that many deaths.
She was Obama's puppet-master, too. In her current rodeo, she's been less visible but just as powerful.
We could only hope.
Speaking of that, Biden got every vaccine shot he could and told us that the vaccine made us immune. He even divided the country over it. Spent a good deal of the nation's wealth on vaccines, test kits and masks. In the end we hear Dr Birx saying "I knew" that COVID-19 vaccines were not going to protect against infection"
DR. BIRX: I knew these vaccines were not going to protect against infection. And I think we overplayed the vaccines , and it made people then worry that it's not going to protect against severe disease and hospitalization. It will. But let's be very clear: 50% of the people who died from the Omicron surge were older, vaccinated. So that's why I'm saying even if you're vaccinated and boosted, if you're unvaccinated right now, the key is testing and Paxlovid. It's effective. It's a great antiviral. And really, that is what's going to save your lives right now if you're over 70, which if you look at the hospitalizations, hospitalizations are rising steadily with new admissions, particularly in those over 70. And so if you live in the South - I know people keep talking about the fall - I'm worried about the South.
People lost their jobs over it. People fought over it. Progressives acted like they were morally superior.
They played politics and now they got caught.
She is now the great Oz behind the screen
Now it's a matter of when the lemmings start trying to discredit Dr. Birx.
Their political games are coming back to bite them in the ass.
Actually, they don't have to do very much to discredit her. In her book, she's already admitted that she and Fauci manipulated data and altered CDC guidelines.
Dr Birx is easily expendable.
It's Dr Fauci that they'd like to protect. He goes down next year as soon as the Republicans in the House take over the gavels.
Hopefully we all learned to not blindly put our trust in the hands of the so-called "experts" with all their "credentials."
President Biden isn't responsible for the division we see
No?
Let's start with this:
"On Wednesday, Joe Biden falsely characterized MAGA Republicans as the “most extremist” political group in U.S. history. Later that day, White House Press Secretary Jen Psaki confirmed that Biden meant what he said."
Dr. Fauci isn't 'going down'. What nonsense
Vic didn't say he was, Vic wrote:
He knows it too.
He wants to leave the second Biden leaves.
President Biden spoke the truth.
Something not to be found on 'articles' like this
Hardly unifying, was it?
He is retiring
Not 'going down'
( The Hill ) — Congressional Republicans are eagerly floating investigations into Anthony Fauci and the Biden administration’s response to the coronavirus pandemic if they win back control of the House or Senate in the midterm elections.
“One way or another, if we are in the majority, we will subpoena his records and he will testify in the Senate under oath,” said Sen. Rand Paul (R-Ky.), who is in line to become the chairman of the Senate Health, Education, Labor and Pensions (HELP) Committee if Republicans win the majority with the panel’s current ranking member, Sen. Richard Burr (R-N.C.), retiring. "
And you think that is going to protect him? That's laughable.
None of which what's his name was responsible for
Truth
What is that fucking idiot Paul going to investigate?
They need to investigate trumpturd for that. Not Dr. Fauci
No?
Who did it then? Was it Obama or Gunga Din?
Like Rand Paul?
I'm sure you think so, but it's not "unifying" to demonize half the country.
Something called Gain of function research in China and who exactly funded it.
So for nothing
Just like the benghazi 'hearings'
No, Tessylo, Rand Paul doesn't hold up his credentials or put on airs. He simply pursues the truth. He also has an uncanny ability to smell out a fraud.
#45
What truth?
Paul is the fraud. Not Dr. Fauci
‘Beauty is truth, truth beauty,—that is all."....John Keats
At least you came away with a laugh.
What's hilarious is you talking about the truth and frauds.
So how do you categorize MAGA Vic ? Are they like the Glee Club ? Mathletes without cleats ? How about traitorous individuals who seek out cheats, to further their twisted sister Mary Elephant bleats as directed by Trump tweets, from his little bird in hand, as not even worth half of the burning two in the family Bush, chlorophyllied with shit as Trump never stopped the push. So "God damn the pusher man" and his LIE pushing clan that can NOT get past that THERE IS NOT EVIDENCE TO SUPPORT TRUMPS" LIES. So, in a way, they are the most extreme, in terms of gullibility you see, but, of course you don't and probably won't, yet, that does not change the point dulled to pierce the tin, foil the feeble points of men, consumed by a twisted liter who the quarts may yet charge. And if we know Trump, he'll pull out his cape and yell Toro at the landscrapers, in a pathetic attempt to avoid the charges he deserves after the collect calls to Georgia on his blank checked mind fckd mentality impregnated with the low water marks, Trump attempted to affect by wading in to the fray, as he captains the row boats gone wild, and plays out who would win if vs against one another, then judged by the petulant child, who could surely ONLY LOSE if abortions were not a reproductive option for he and of course that nights she, all because he liked P, and other letters not sent via the US Male ordered bride he would attempt bribe rather than prescribe to the notion that appointing a PM General that was demoing sorting machines right before a pandemic promoted mail in vote effort that he attempted to make full effort a requirement, for the planting of seeds to germinate his deceitful impede of our transition of power, in an attempt to be King, well , at least for an extra half hour, then got distracted, by some Rushed Put in place Golden Shower, as he perched himself in the single cell tower to ring the bell on the our time Mr. Hand, so Don, go pound sand.
How else are you going to learn about the virtues of simply telling the truth?
I'm here to help.
The slogan? It means Make America Great Again.
The people? They were the forgotten muscular class.
How about traitorous individuals who seek out cheats, to further their twisted sister Mary Elephant bleats as directed by Trump tweets, from his little bird in hand, as not even worth half of the burning two in the family Bush, chlorophyllied with shit as Trump never stopped the push. So "God damn the pusher man" and his LIE pushing clan that can NOT get past that THERE IS NOT EVIDENCE TO SUPPORT TRUMPS" LIES. So, in a way, they are the most extreme, in terms of gullibility you see, but, of course you don't and probably won't, yet, that does not change the point dulled to pierce the tin, foil the feeble points of men, consumed by a twisted liter who the quarts may yet charge. And if we know Trump, he'll pull out his cape and yell Toro at the landscrapers, in a pathetic attempt to avoid the charges he deserves after the collect calls to Georgia on his blank checked mind fckd mentality impregnated with the low water marks, Trump attempted to affect by wading in to the fray, as he captains the row boats gone wild, and plays out who would win if vs against one another, then judged by the petulant child, who could surely ONLY LOSE if abortions were not a reproductive option for he and of course that nights she, all because he liked P, and other letters not sent via the US Male ordered bride he would attempt bribe rather than prescribe to the notion that appointing a PM General that was demoing sorting machines right before a pandemic promoted mail in vote effort that he attempted to make full effort a requirement, for the planting of seeds to germinate his deceitful impede of our transition of power, in an attempt to be King, well , at least for an extra half hour, then got distracted, by some Rushed Put in place Golden Shower, as he perched himself in the single cell tower to ring the bell on the our time Mr. Hand, so Don, go pound sand.
Do I need to be on Quaaludes to interpret that?
You need wit and intelligence to interpret that
I will learn nothing about truth telling 'here'
Does that mean you'll tell us what it meant?
Where then? Surely not on Twitter.
"First Democrats said their reckless spending wouldn’t cause inflation.
Then they said it would be transitory.
Then they said it had peaked last year.
Now those same Democrats are insisting we aren’t headed into a recession.
Draw your own conclusions."........Mitch McConnell
Bazinga!
Democrat's spin is as bad as Putin's!
A ten year old doesn't buy it!
Sadly, many Democrats seem to lack a 10-year-old's smarts.
I'm sure there are still many moderate democrats who believe in the party's old principles. Unfortunately the party has been taken over by the radical left and for them it's all about an ideology which is very similar to a religion.
Your usual projection
I think there are a few slogans we need to think about retiring around here:
1) projection
2) bull shit
3) don't put words in my mouth
4) deflection
How Orwellian of you...
For that one needs absolute control of the society.
Let's think of who that is?
Take 60 seconds and get back to me.
First one needs totalitarian desires. Who has that? See 9.1.5
I'm disappointed.
Think of these words:
1) Clingers
2) Deplorables
3) insurrectionists
and
4) " I must reject the recommendations of Representatives Banks and Jordan to the Select Committee," Pelosi said in a statement.
All truthful descriptions
Of half the country?
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He was truthful about trumpturd and his enablers/supporters