r/Asmongold • u/Whothefookisdatguyy • 23h ago
Discussion There’s always a tweet
Let’s see the hogs squeeeal about this one
10
21
13
4
u/TheFieldAgent 19h ago
Just looking at the S&P500, in 2022 it sunk further from its peak, but it was spread out over more time. This one was a bit more sudden
5
u/Flincher14 13h ago
Could sink over the same length of time but at a greater rate to be ultimately a much bigger loss.
The markets haven't even reacted to retaliatory tariffs yet.
Nor have they experienced a quarter of job losses and revenue losses after all these tariffs.
1
1
u/Ornery_Argument9133 6h ago
From Spain watching Putin's asset Trump destroy the USA and people defending every tweet like religious zealots
-5
u/DemonicBhemoth 22h ago
Anyone remember during Biden when they redefined what a recession was? can't wait for the narrative to be redefined again for Trump only this time with a negative spin.
12
u/Snekonomics 22h ago
I’m actually not sure what you mean, but even under the classic definition of a recession (two quarters with negative GDP growth), we weren’t in one during Biden. We actually had the opposite problem, as inflation tends to run counter to recessions.
The only other definition I know of is GDP below trend, which is actually an easier definition to fulfill- it just requires GDP growth below trend, and trend is about 2%.
-2
u/DemonicBhemoth 21h ago edited 21h ago
We had 2 quarters of negative growth..
https://www.npr.org/2022/07/28/1113649843/gdp-2q-economy-2022-recession-two-quarters
If you read a portion of the article "White House doesn't like the word recession" it even tried to state that the negative growth doesn't mean recession
12
u/Snekonomics 21h ago edited 21h ago
https://fred.stlouisfed.org/series/GDPC1#
Go into edit graph and choose “percent change”. Also click 5Y to get a better timeline.
From what I’ve seen there was only one quarter of contraction, and it was fairly minor (-0.2%). If there were two, then sure we had a minor recession in early 2022. If you look at the annualized rates:
https://fred.stlouisfed.org/series/GDPC1#
Go into edit graph and choose “continuously compounded annual rate of change”
Aside from Q1 2022, we didn’t even meet the softer definition of below trend for two quarters.
So whatever the NPR article is going off of, the Biden admin was right to push back on claims of a recession, as the data shows there was none. The contraction surfaced mainly as a reaction to the Fed signaling they would raise interest rates to combat inflation, and they did so to the highest they’d been in decades without any noticeable contraction.
Edit: setting didn’t save over from the copy-paste, so instructions added.
1
u/DemonicBhemoth 20h ago
I see what the charts are showing, but it was still a talking point and from what I can see looking at articles at the time were circulating statements "GDP decreased at an annualized rate of 0.9% in the second quarter after falling at an annualized rate of 1.6% in the first three months." So I'm not sure why the conflicting information, but my point was mainly the redefinition of what a recession is was a topic of debate at the time.
0
u/Snekonomics 20h ago
I don’t disagree with you that there are left media talking points. I’m not here defending NPR, or Biden for that matter, I’m just telling you, to the best of my knowledge, Biden’s economy did not hit any recessions.
Most likely reason for conflicting information is that GDP data as its released is preliminary. The figures get retroactively adjusted. It’s actually quite hard to calculate these numbers in real time. And Yellen was correct to point out that an economy that added 400,000 jobs in that time is likely not in a recession, and had that been the case, Jerome Powell probably would’ve backed down the rates. So it’s more than just a talking point- these were seasoned economists, both Fed chairs at different points in their careers, on both sides of the aisle (Powell is a Republican) coming to the same conclusion.
11
u/Master_Opening8434 19h ago
"b-b-biden!" biden isn't here anymore stop using stupid fucking excuses to handwave trump having no fucking clue how the economy works.
Biden sucked but that doesn't make Trump suck any less it just makes you retarded for refusing to see it.
3
2
u/DemonicBhemoth 18h ago
Okay is it any better if I said in 2022? I just said it as a frame of time... relax
2
u/Master_Opening8434 18h ago
I'd agree with you because Biden sucks. but again this isn't 2022 and this aint about Biden. stop eating out of trumps ass for once and accept reality.
3
u/DemonicBhemoth 18h ago
All I said is the media tried to redefine what a recession was during that time period, and that they would probably do the same for Trump... if you think that stating a fact is eating out Trumps ass, that sounds like a you problem.
-12
u/Scharfschutzen 21h ago
Stock market is lower because people are selling. That has nothing to do with Drumpf.
7
1
u/Oofric_Stormcloak 15h ago
It's just a coincidence that they started selling immediately after the Trump Tariffs guys I swear! It's not daddy's fault!
-7
u/konsoru-paysan 22h ago
So what it's a stand still between companies taking the knee or usa, guess we'll see
1
u/Kaionacho 13h ago
Walmart already went to China asking if they could take the loss and they told them to fuck off.
1
1
u/Powerful_Pie_7885 19h ago
You think the US can take on the world?
-2
u/konsoru-paysan 19h ago
The expensive luxurious crap that most of the Americans don't need is all on manufacturers to decide, either they come here and set up factories, or compete with our local brands with their already overly bloated prices that are now taxed
-3
u/jntjr2005 17h ago
Isn't the stock market still higher now than at this point last year?
4
u/Oofric_Stormcloak 15h ago
Probably depends on the stocks. Both the S&P 500 and Dow Jones are down below what they were a year ago
1
0
u/Flincher14 13h ago
No we officially crossed that point a day or two ago. Wiping out a year of growth in the market in a few short days.
-5
u/3rd_eye_light 17h ago
Hes changed his outlook and is trying to help build up the middle class. Its not hard to understand.
3
u/Whothefookisdatguyy 17h ago
Ah the MAGATS being lost in lala land never ceases to amaze
-2
u/3rd_eye_light 16h ago
I dont know what a magat is. The debate wasnt wether trump knew the markets were going to crash, that was inevitable The debate is if it will be worth it in the long term. We wont know anything for a couple months.
1
u/Whothefookisdatguyy 10h ago
I think we should be nice to you. I’m fairly certain you have a syndrome with the word down in it or possible a room temperature IQ. If you need me to explain all of that let me know.
1
u/3rd_eye_light 7h ago edited 5h ago
Yet its you that seems to not understand a word i said. I never said i was onboard with what Trump was doing, just explaining to you why the tweet youre referencing has no relevance to what Trump is doing today. Hilariously im trying to be as nice as possible to you here as other people could be a lot more brutal, especially given your last reply.
Trump is trying to create a market in usa instead of outsourcing overseas for cheap labour. The point of the tariffs is to make it cheaper to manufacture/produce/process in usa and make it more attractive to do so. Trump didnt have this plan when he made that tweet, tariffs are obviously followed by a market crash. No one prominent would ever bring up that tweet as a gotcha as they know that would be retarded.
•
u/Whothefookisdatguyy 29m ago
It’s ok buddy it’s ok let the adults who know things talk, go back to watching bald man
43
u/SpookyColdAtom 23h ago
Recessions good. And depressions are the best. So big, people tell me all the time how good they are. It's a shame the Biden administration couldn't do it