Very interesting...there have been 13 cases of people tinkering on Wikipedia to define what does a Recession mean in just the last 2 days

Recession: Revision history - Wikipedia

At least some of it was deemed by Wikipedia to be done for political purposes

User contributions for 2A01:11:8410:3780:BD0C:7C0B:277F:C5EB - Wikipedia

Clowns.....

Probably a good time to stop an academic discussion about how to define the label and instead concentrate on whether the economy is in trouble. Today all the indicators show the US economy is in very good shape, of course, who knows what the future will bring.

Regardless of the label, Trump delivered a big increase in the US debt which he had never promised.

Underpromise, overdeliver. A very rare feat among politicians.

Who decides that, some guy in Switzerland or the 66% of Americans of both parties who feel based on their everyday lives and observations that the economy is in trouble. (leading indicator)

U.S. July flash PMI data show ‘worrying deterioration’ in economy

The numbers: The U.S. services PMI fell to a 26-month low of 47 in July from 51.6 in the prior month, based on a “flash” survey from S&P Global Market Intelligence. Readings below 50 signifies contraction. The manufacturing flash PMI slid to 52.3 from 52.7 in June. This was the weakest level in two years.

Key details: The services sector continued its downward trajectory since hitting a high in March. Inflation continued to weigh on new sales. In the manufacturing sector, new orders fell and production levels were unchanged.
The flash PMI composite output index fell to 47.5 in July. This is the sharpest contraction since the beginning of the pandemic.

https://www.marketwatch.com/story/u-...conomic-report

Also Wal-Mart (hardly a seller of high cost goods) cut its forecast and is indicating that consumers are spending less on discretionary items after sharp increases in costs of fuel and food. Stock down >8% today

https://finance.yahoo.com/news/walma...204333663.html

Strap in for some interesting earnings reports

Thanks as I posted, "who knows what the future will bring". One positive from your link, in the manufacturing sector production levels, were unchanged although new orders fell which is not good for the future.

Today the IMF posted a gloomy global forecast, identifying such issues as worldwide inflation, covid resurgence and further negative spillovers from the war in Ukraine.
No doubt some here will blame Biden

The US economy is the major world financial driver and the growing resistance there to vaccination and other sensible precautions will magnify covid resurgence and help to drag down the global situation.

As always there are also positive forecasts.

• The Wall Street Journal sees inflation as having peaked.
  
• Economist Intelligence Unit forecasts that the US economy will narrowly avoid a technical recession in 2023-24.
  
• Continued Job Growth in July Points To Persistent Strength in Economic Recovery
  
• US jobs report signals continued economic growth

In summary, nobody really knows because the crystal ball views are all murky

Polls from a country where a large proportion of the population believes Biden was not legally elected without a shred of evidence of illegal actions are not really a credible basis for anything, just a couple of years ago they were forecasting huge Senate and House victories for the Dems.

"If the 2022 midterms are about the economy, Republicans will win the House and Senate.

If Trump announces his presidential campaign and makes the 2022 midterms about himself, Republicans could lose both."

Says pollster amd ex-GOP campaign strategist Frank Luntz.

📺: @Morning_Joe https://t.co/6gK13DeFxn

The price of gas in WA State right now is between $4.99 and $5.29 a gallon with prices still decreasing slightly

Haven‘t seen anything in Chicago below 5 dollars.

The cheapest gas we saw on our road trip was in Plummer, Idaho at $4.50.

And 8.70 in Switzerland. Will Ignazio Cassis be a good president?

He's scum, as usual.

Meanwhile, Giorgia is looking great!

Tom

Pugnacious Cassis

Can you substantiate your insults? What did he do to deserve the "scum" label, in your view?
Funnily enough, I have seen him at the Zurich Carnival this year and he was happily mixing with the crowd at one point, who seemed very happy to see him (me included), the type of politician who doesn't walk with an army of bodyguards and the likes.... Swiss folks seem to like him, don't know how's down there in Ticino.....

Should raise a few red flags when the same people who told us inflation wouldn't happen, followed by attempts to reconsider the origins of inflation and justify it as transitory are now trying to redefine what a recessions is!

Urrrgh this is so cringe some part of me thought that the weird video clips would maybe phase out when President Trump left office, however with the increasing frequency of senior moments from President Biden there is just an endless stream to be found on social media.

Now this from the Vice President, more than anything, it's just so weird!

"I am Kamala Harris, my pronouns are she and her, and I am a woman sitting at the table wearing a blue suit."



https://twitter.com/greg_price11/sta...84522685829120

The Russian propaganda and their followers are endless.

A more sensible relevant tweet

For the politically biased;
This was a disability committee and she’s doing an image description of her appearance for those who are blind or have low vision.

Some empathy for the visually challenged would be positive.