Discussion:
Trump Recession started in Februrary...not March!...Ends Obama period of expansion
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Miloch
2020-06-09 00:29:03 UTC
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It's official: Recession began in February, ending longest U.S. expansion ever

https://www.cbsnews.com/news/recession-united-states-february/

The U.S. economy entered a recession in February, a group of economists declared
Monday, ending the longest expansion on record just as the novel coronavirus
began swiftly spreading across the country.

The economists said employment peaked in February and fell sharply afterward,
marking the beginning of the downturn as cases of COVID-19 metastasized
throughout the U.S., soon killing thousands, shutting down millions of
businesses and sparking stay-at-home orders for much of the nation's population
by mid-March.

What a difference a pandemic can make: Just weeks earlier in February, the
jobless rate stood at 3.5%, the lowest rate in 50 years, and employers in
February had added 273,000 workers. The subsequent job losses — tens of millions
of newly unemployed Americans from March to May — were the steepest ever seen in
the U.S.

The economists who declared the recession's start make up a committee within the
National Bureau of Economic Research, a trade group that determines when
recessions begin and end. It defines a recession as "a decline in economic
activity that lasts more than a few months."

The committee noted, though, that in this case, the depth of the downturn since
February had led it to determine that a recession had begun.

"The unprecedented magnitude of the decline in employment and production, and
its broad reach across the entire economy, warrants the designation of this
episode as a recession, even if it turns out to be briefer than earlier
contractions," the NBER panel said.

The unemployment rate is officially 13.3%, down from 14.7% in April. Both
figures are higher than in any other downturn since World War II. A broader
measure of underemployment that includes some of the unemployed who have given
up looking and those who have been reduced to part-time status is 21.2%.

The NBER's placing of the recession's start in February 2020 also marks the
official end of the longest economic expansion in U.S. history: More than 10
years of growth, or 129 months, that started during the depths of the financial
crisis during the Obama administration in June 2009.

In an indication of the unusual scale and nature of the downturn, "the NBER
called this recession just over three months after its onset, making this the
fastest call since the 1980 recession, much shorter than the usual nine months
to a year," Gregory Daco, chief U.S. economist with Oxford Economics, said in a
report.


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Hello Kiitty
2020-06-09 02:56:44 UTC
Permalink
Post by Miloch
It's official: Recession began in February, ending longest U.S. expansion ever
You obviously haven't taken a look at where the market is today. Though, why
would you, you have nothing invested and have no investing sense.
Miloch
2020-06-10 14:07:40 UTC
Permalink
Post by Hello Kiitty
Post by Miloch
It's official: Recession began in February, ending longest U.S. expansion ever
You obviously haven't taken a look at where the market is today. Though, why
would you, you have nothing invested and have no investing sense.
...still bragging about your invisible wealth, douchebag?



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Hello Kiitty
2020-06-10 17:35:13 UTC
Permalink
Post by Miloch
Post by Hello Kiitty
Post by Miloch
It's official: Recession began in February, ending longest U.S. expansion ever
You obviously haven't taken a look at where the market is today. Though, why
would you, you have nothing invested and have no investing sense.
...still bragging about your invisible wealth, douchebag?
Still denying the George Floyd pornos exist and denying the market has
recovered? You have no credibility.
Miloch
2020-06-10 17:52:30 UTC
Permalink
Post by Hello Kiitty
Post by Miloch
Post by Hello Kiitty
Post by Miloch
It's official: Recession began in February, ending longest U.S. expansion ever
You obviously haven't taken a look at where the market is today. Though, why
would you, you have nothing invested and have no investing sense.
...still bragging about your invisible wealth, douchebag?
Still denying the George Floyd pornos exist and denying the market has
recovered? You have no credibility.
You're one of the few dumb-fucks who actually believe George Floyd pornos
exist...despite the fact the actor bears no resemblance.

Go back to sweeping up Trump's horse-shit and enjoy the parade while it lasts.



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Hello Kiitty
2020-06-10 18:14:29 UTC
Permalink
Post by Miloch
Post by Hello Kiitty
Still denying the George Floyd pornos exist and denying the market has
recovered? You have no credibility.
You're one of the few dumb-fucks who actually believe George Floyd pornos
exist...despite the fact the actor bears no resemblance.
It's no wonder you believe the fake news. You're one blind and stupid
motherfucker.
Siri Cruise
2020-06-10 23:31:22 UTC
Permalink
Post by Miloch
You're one of the few dumb-fucks who actually believe George Floyd pornos
Why does it matter? He was murderred on a city street.
--
:-<> Siri Seal of Disavowal #000-001. Disavowed. Denied. Deleted. @
'I desire mercy, not sacrifice.' /|\
The first law of discordiamism: The more energy This post / \
to make order is nore energy made into entropy. insults Islam. Mohammed
Hello Kiitty
2020-06-11 03:56:54 UTC
Permalink
Post by Siri Cruise
Post by Miloch
You're one of the few dumb-fucks who actually believe George Floyd pornos
Why does it matter? He was murderred on a city street.
For some reason he can't let it go. He gets all hot under the collar every time
it's mentioned and fervently denies something that is so obvious and has been
proven to be true. It's weird behavior.

LinuxGal
2020-06-10 13:43:03 UTC
Permalink
Post by Miloch
It's official: Recession began in February, ending longest U.S. expansion ever
https://www.cbsnews.com/news/recession-united-states-february/
The U.S. economy entered a recession in February, a group of economists declared
Monday, ending the longest expansion on record just as the novel coronavirus
began swiftly spreading across the country.
A recession is defined as two quarters of negative GDP
growth. It's only been one quarter and change.
--
Linux Geeks: Smart. Single. Sexy.
Well, two out of three ain't bad!

https://twitter.com/LinuxGal
Miloch
2020-06-10 14:12:03 UTC
Permalink
In article <***@teresita-Latitude-D630>, LinuxGal
says...
Post by LinuxGal
Post by Miloch
It's official: Recession began in February, ending longest U.S. expansion ever
https://www.cbsnews.com/news/recession-united-states-february/
The U.S. economy entered a recession in February, a group of economists declared
Monday, ending the longest expansion on record just as the novel coronavirus
began swiftly spreading across the country.
A recession is defined as two quarters of negative GDP
growth. It's only been one quarter and change.
What a relief...the owners of the shuttered local businesses in my small berg
will be happy to hear it.



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