- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
re: US Q2 GDP -0.9%
Posted on 7/28/22 at 9:53 am to Jjdoc
Posted on 7/28/22 at 9:53 am to Jjdoc
quote:
Slack will be here shortly to tell you why you are wrong!
Why would I do that?
It’s definitely a weird recession though considering unemployment numbers and company earnings. If we are going to say the recess began in January, the unemployment rate is down through June. How many recessions have you seen with that dynamic?
1
Posted on 7/28/22 at 10:09 am to Jjdoc
I value everyone's opinion even if they are not my own. Jjdoc backs his with why he thinks its going down and that gives me something to take in instead of "And the great Reset has begone" or "Let it all burn". 
This post was edited on 7/28/22 at 10:11 am
Posted on 7/28/22 at 10:17 am to notiger1997
quote:
Some of y’all are hysterical like kids with crazy excitement as we head down this path. It’s just strange.
I have zero hysteria. This is not going to be end of the world recession.It’s not even going to be terrible. It is going to be longer because there are no government resources to pull us out, but it will not be bad and is even needed . I don’t think the housing market is going to fall off a cliff because we under built for 12 years, so I am not some gloom and doomer.
It’s just comical that some on here like you, Slack and bod312 cannot accept things are not always sunshine and rainbows. Jjdoc and I get ripped when we say things are not great. Everything We have said has happened. Now, the labor market is going to be the next to fall. That will get downvoted, but it is next.
Powell is saying we need slowing for supply to catch up, while talking heads like Cramer are saying this number was due to market glut from over purchasing. Same story as we heard when people said inflation was transitory. People are just unwilling to admit the truth anymore.
Incidentally, all the bears on here have been right for the last eight months. People like you have to acknowledge it now and it seems to really eat at your ego. I was wrong because I turned bearish in September, so I was two months early. I sold all of my commodities in May, but that was for tax purposes more than an expectation that they would fall. That may turn out to be foolish, but I had reached LTCG status and wanted to have cash for the summer downturn and have been buying as much crypto as I can and am about to move into tech... Regardless of what you think, anyone that has been bearish this year has been right.
This post was edited on 7/28/22 at 10:34 am
Posted on 7/28/22 at 10:45 am to go ta hell ole miss
quote:
It’s just comical that some on here like you, Slack and bod312 cannot accept things are not always sunshine and rainbows.
Not sure why I have this stigma for being the “Everything is fine” guy simply because I’m not bearish.
Posted on 7/28/22 at 10:48 am to slackster
It’s like everyone who’s not convinced the financial zombie apocalypse is almost upon us is considered a sunshine pumper.
I get it… it’s human nature to fear the known.
I get it… it’s human nature to fear the known.
Posted on 7/28/22 at 10:54 am to boomtown143
quote:
US Q2 advance GDP -0.9% vs +0.5% expected
As I posted in the Poli thread: this is either good news or the numbers are bullshite.
Q2 2021 was up more than was Q1 2021. Prices through Q2 2022 only continued to rise beyond what they were in Q1 2022. Q1 2022 GDP was down 1.6% yet Q2 2022 was down only .9%? This makes no sense.
This is an impossible scenario unless consumers went historically hard on their credit cards (we'll see what that shows next week), there was fudging of numbers or some of both.
GDP should have been somewhere near -2%.
This post was edited on 7/28/22 at 10:56 am
Posted on 7/28/22 at 10:55 am to slackster
quote:
Not sure why I have this stigma for being the “Everything is fine” guy simply because I’m not bearish.
I'm with you but if you not with the bear group on this board you are a sunshine pumper
Posted on 7/28/22 at 10:57 am to lowspark12
quote:
It’s like everyone who’s not convinced the financial zombie apocalypse is almost upon us is considered a sunshine pumper.
Exactly. And go to hell ole miss is looking for some kind of award ribbon for thinking he’s some kind of financial guru. LOL
Posted on 7/28/22 at 11:31 am to Bard
quote:
This is an impossible scenario unless consumers went historically hard on their credit cards (we'll see what that shows next week), there was fudging of numbers or some of both.
Americans are going very hard with their credit cards based on Am Ex numbers.
quote:
GDP should have been somewhere near -2%.
Revisions don’t get nearly as much coverage or cost as much political capital. 1st Q GDP was revised down and it made almost no headlines. I don’t expect -2%, but it will likely be revised below- 1%.
This post was edited on 8/11/22 at 1:54 am
Posted on 7/28/22 at 11:34 am to notiger1997
quote:
Exactly. And go to hell ole miss is looking for some kind of award ribbon for thinking he’s some kind of financial guru. LOL
You go on the personal attack and then when I defend myself you think I want a ribbon. You are a typical liberal with your takes like that. I have no desire to have recogniztion from you. It seems like the more you disagree with me the better off I am. Keep pumping, princess.
I am no guru and don’t claim to be one. I have lost plenty of money in this market since October. It would have been worse if I had only sunshine pumped like you, though.
This post was edited on 7/28/22 at 12:16 pm
Posted on 7/28/22 at 11:45 am to go ta hell ole miss
quote:
You are a typical liberal
LOL
Oh this is greatness.
Posted on 7/28/22 at 11:47 am to go ta hell ole miss
quote:
Americans are going very hard with their credit cards based on Am Ex numbers.
I felt a bit lazy about not looking up any debt information before posting that (my work expects me to do my job sometimes).
CNBC, July 26, 2022
quote:
*U.S. credit card debt hit an all-time high of $930 billion
*Debt surpassed the $870 billion peak during the 2008 financial crisis
*Credit card delinquency rates increased .16% from the prior quarter to 5.32%
The article talks about moving to transfer cards, but the issue is that price increases have well outpaced wage growth and continue to do so. This will become an even larger problem as layoffs continue in the face of rate hikes. While credit card use may have made GDP not quite the hit I was expecting, the piper still has to be paid so at best it's only spread it out further into the future.
Posted on 7/28/22 at 12:14 pm to go ta hell ole miss
quote:
have zero hysteria. This is not going to be end of the world recession.It’s not even going to be terrible. It is going to be longer because there are no government resources to pull us out, but it will not be bad and is even needed . I don’t think the housing market is going to fall off a cliff because we under built for 12 years, so I am not some gloom and doomer.
It’s just comical that some on here like you, Slack and bod312 cannot accept things are not always sunshine and rainbows. Jjdoc and I get ripped when we say things are not great. Everything We have said has happened. Now, the labor market is going to be the next to fall. That will get downvoted, but it is next.
Powell is saying we need slowing for supply to catch up, while talking heads like Cramer are saying this number was due to market glut from over purchasing. Same story as we heard when people said inflation was transitory. People are just unwilling to admit the truth anymore.
Incidentally, all the bears on here have been right for the last eight months. People like you have to acknowledge it now and it seems to really eat at your ego. I was wrong because I turned bearish in September, so I was two months early. I sold all of my commodities in May, but that was for tax purposes more than an expectation that they would fall. That may turn out to be foolish, but I had reached LTCG status and wanted to have cash for the summer downturn and have been buying as much crypto as I can and am about to move into tech... Regardless of what you think, anyone that has been bearish this year has been right.
I see a lot of this as well.
No one is happy that we are in a recession.
No one likes inflation.
What stands out to me is that the people in charge have been blowing smoke for a year and half and have been continuously wrong both in their predictions and prescriptions moving forward.
I am neither bull nor bear.
I just wish there was accountability for the morons (I know they are smart and they probably have good intentions, but so were the sophists).
People who continually make awful mistakes should be held accountable. Otherwise, we are greenlighting more awful mistakes in the future. Who could be happy and like that?
Posted on 7/28/22 at 12:23 pm to boomtown143
quote:
WE ARE NOT IN A RECESSION
This meme is going to get worn out today....
Posted on 7/28/22 at 12:46 pm to dewster
It's alright fellas...he's cracked the code, more spending and tax raises.
Posted on 7/28/22 at 1:06 pm to boomtown143
quote:
WE ARE NOT IN A RECESSION
Please slow Joe, tell me more...
This administration is a clown show and the media carries the water for them.
Posted on 7/28/22 at 1:19 pm to Bard
quote:
Q2 2021 was up more than was Q1 2021. Prices through Q2 2022 only continued to rise beyond what they were in Q1 2022. Q1 2022 GDP was down 1.6% yet Q2 2022 was down only .9%? This makes no sense. This is an impossible scenario unless consumers went historically hard on their credit cards (we'll see what that shows next week), there was fudging of numbers or some of both. GDP should have been somewhere near -2%.
Can you show your work? It feels like you’re just throwing stuff at the wall. For example, 2021 GDP is irrelevant.
Posted on 7/28/22 at 1:23 pm to slackster
He did three posts above yours ya lazy beyotch
Posted on 7/28/22 at 1:23 pm to slackster
quote:
unless consumers went historically hard on their credit cards
Pretty sure that consumer debt hit an all time high thus far this year
Someone correct me if Im wrong, but I'm 99% sure I read that months ago and you have to imagine its only worse.
I mean logically, it has to be with more americans defaulting on car loans. If they can't afford that, they are running up their CC's too.
Posted on 7/28/22 at 1:32 pm to AllDayEveryDay
quote:
He did three posts above yours ya lazy beyotch
He didn’t do anything.
Do any of you realize how GDP is calculated? It’s nowhere near as simple as saying “prices are up from last quarter, ergo, unless people used credit cards, the numbers are fudged”
Page 2 of 3
Popular
Back to top
Follow TigerDroppings for LSU Football News