Officially in a Recession?? Thoughts?
GDP fell for two straight quarters, just curious to hear everyone's thoughts. Layoffs? Lower Dealflow?
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Intern in IB - Restr, shame nobody has responded. Maybe one of these topics will help:
More suggestions...
You're welcome.
Things I’ve noticed personally - everything is fucking expensive. I’m making a ton of money on paper but it’s super expensive to eat out and buy stuff. But it’s also NYC which is just insanely expensive. Average people are spending less on things that they don’t need.
I still think the economy is going strong and even though markets are down they are still at historic highs (i.e. flat over the past year, but still up 60% in the past 5 years).
My bank used it as an excuse to pay us shitty bonuses while the bank still made billions in profit. Which is stupid af.
No citizen, that’s not what a recession is now. The economy is currently doubleplus good!
It's not a recession officially until Biden and other democrat elites/MSM say it is. Which will never be when the democrats hold the presidency and senate. But come election season when they lose, that's when it'll be a recession and full panic-mode-- and they can pin it as a Republican-caused one, too!
Sort of like when an unprecedented global pandemic wiped out the supply chain and made us all work from home, yet it only took a few weeks to fully rebound in a V-shaped recovery due to the pragmatic and swift action of Republican leadership, miraculously setting the economy to be even stronger than it already was beforehand. Oh but that was 'Trump's recession' according to Biden-- definitely not due to that Covid-19 thing. Then Biden inherited a strong economy, covid vaccines and a non-existent pandemic, yet managed to run the country to the ground in under 2 years, with record high inflation due to repealing every executive order Trump made, careless government spending, over-regulation, and the most regressive appointed bureaucrats we've seen since FDR! They managed to give us an official decline in GDP growth for 2 quarters coupled with the highest inflation in 40 years, yet they claim the economy is better than ever and won't dare say the R word! Can you even imagine the state we'd be in if Sinema wasn't a queen and denied their tax hikes and trillion dollar BBB plans, which are even more ludicrous than the ones they've already passed? Let's just hope she does the same with this new spending package. If not, let's just say I'll be selling all my long positions and begin doomsday prepping.
So yeah, those are my thoughts.
Bitch you should’ve already sold and be in all cash.
Short answer is you’re all fucked and getting fired. Good luck with unemployment boys.
That gosh darned Joe Brandon causing inflation across the entire globe. Democrats are really more powerful than they give themselves credit for.
https://tradingeconomics.com/country-list/inflation-rate
Yes, democrats and the leeching statism and bureaucracy they stand for is all over the globe. Name one genuine laissez-faire capitalist country. Note how the more capitalistic countries, although still not even close to a true capitalist economies, are at the bottom of your inflation list: Japan, Switzerland, South Korea, Australia, Singapore (exception China, they lie about all their financial data). The top of your list is socialist dreamland: Turkey is government-controlled economy, Argentina socialist 'worker led', Russia needs no explanation. Inflation rate corresponds shockingly well with level of collectivism in the economy. Inb4 AmEriCa is the pinnacle of capitalism-- nope we have some of the highest tax rates in the developed world and we have Elizabeth Warren and Bernie dictating our recent policies and appointments.
“There is No Recession in Ba Sing Se” - Karine Jean-Pierre.
It's not really a recession? The labour markets are tight, low unemployment, and, irrationally, increasing consumer spending (in America). So in the American definition, it's not "officially in recession". Anyway, recessions are natural, they come and go. They're not so gloomy and the be all and end all.
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