Stock market panic around the world due to fears about the US entering a recession

[QUOTE=j3lademaster;14933451]Please elaborate, what is a recession and what did the govt change to redefine it?[/QUOTE]

The classic definition has been 2 quarters of negative growth which the Biden administration went through but refused to accept we were in a recession because unemployment was so low

The Biden administration will have the lowest gdp growth of any prez since Bush Sr.

[QUOTE=Media Moderator;14933463]The classic definition has been 2 quarters of negative growth which the Biden administration went through but refused to accept we were in a recession because unemployment was so low

The Biden administration will have the lowest gdp growth of any prez since Bush Sr.[/QUOTE]

Biden has a +2.2% average with one more Q to add and Trump had a +2.3% :rolleyes:

MAGAS don't vote based on the economy.
They vote for Trump because he is their cult leader.

MAGAS can't hide their glee rooting against America.

Keep in mind, poorly educated.

Republicans are trying to pin today’s stock market drop on Joe Biden & Kamala Harris, saying it’s the worst ever. Not even close. The Dow really shat the bed under trump:

2020-03-16 −2,997.10 TRUMP
2020-03-12 −2,352.06 TRUMP
2020-03-09 −2,013.76 TRUMP

The Dow is still higher that it ever was under Trump.

[QUOTE=paksat;14933450]intel down 27%

"why this is good for the economy" on the next episode of CNN[/QUOTE]

they made their own bed. they've had major delays with their new manufacturing processes for their CPUs. they also missed the AI train unlike Nvidia and others, which is why they are now seeking private funding (well this and all the stock buybacks they did a couple years ago). their own leadership is to blame for their trajectory.

[QUOTE=Lakers Legend#32;14933474]MAGAS don't vote based on the economy.
They vote for Trump because he is their cult leader.[/QUOTE]

I'd say they do since roughly 2/3 of small business owners are Republican. Ask your global elite corporations though. They might agree with you

[QUOTE=Media Moderator;14933463]The classic definition has been 2 quarters of negative growth which the Biden administration went through but refused to accept we were in a recession because unemployment was so low

The Biden administration will have the lowest gdp growth of any prez since Bush Sr.[/QUOTE]2 quarters of a gdp drop isn’t enough information to strike it as a recession. Truth is, that is a very rudimentary and oversimplified rule of thumb. What do I base this off of? Mid 1940’s already set the precedence for this, they technically had a recession by your definition, but the faith in the job and overall economic market kept it from being a recession, the same way for Biden’s administration- which with time that faith proved to be warranted as we can see from being a bull market ever since.

With this sign, I expect interest rate cut coming very soon, perhaps 2 cuts before the year ends. I would urge against panic selling because nobody can predict the bottom.

[QUOTE=Media Moderator;14933400]Multiple stock market circuit breakers around the world were tripped and trading paused because of fears the US is going into a recession. Japan had the biggest dive since Black Monday of 1987. Friday's jobs report combined with the Fed deciding not to lower interest rates has the rest of the world terrified

I've been saying this for months, the economy doesn't seem so hot no matter how rosy a picture the Biden paints it with their numbers. Kamala better hope this is just a small panic blip. She doesn't want to try winning an election in a struggling economy[/QUOTE]

Oh no the world is going to end :roll:

[QUOTE=SATAN;14933495]Oh no the world is going to end :roll:[/QUOTE]

Existence is pain

The Bureau of Labor Statistics also admitted that it had overestimated the job gains in both May and June by a total of 29,000. This continues a nearly unbroken and highly suspicious trend that has resulted in the BLS [B]claiming big job gains each month – which garnered great press for Biden-Harris – then quietly cutting those numbers in subsequent months[/B], often by substantial amounts. So far [B][U]this year, 279,000[/U][/B] have disappeared.

[url]https://issuesinsights.com/2024/08/05/lousy-jobs-report-brings-out-the-worst-in-biden-harris/[/url]

iirc, last year, they DOWNWARDLY REVISED job numbers for 11 of the 12 months.

This story will be forgotten in 48 hours.

Remember Trump had his staged shooting three weeks ago and nobody remembers.

It's all a sham. Revised job numbers, more part-time jobs (with loss of full-time jobs), increase in mostly GOVERNMENT jobs (which we the taxpayers pay for), 16 million jobs "created" (recovery from covid) - scam to BOAST about how well the administration is doing. In addition, a trillion dollars in interest every 100 days, some countries abandoning US dollar as reserve currency, inflation killing the average American - we're skating on thin ice. This spending is unsustainable.

[video=youtube;XSQoorx7foI]https://www.youtube.com/watch?v=XSQoorx7foI[/video]

[QUOTE=rmt;14933602]It's all a sham. Revised job numbers, more part-time jobs (with loss of full-time jobs), increase in mostly GOVERNMENT jobs (which we the taxpayers pay for)[/QUOTE]
Everyone on this insane forum is working a full time job but it has to be a lie outside of here!

If you don't trust what the Bureau of Stats is throwing out, then look into the revenue of individual businesses. Ones that the entire country uses. Amazon, Google, Walmart, Starbucks, Chipotle, etc. Or is everyone in on the sham?