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As Europe slides into Recession, is North America far behind?

Started by JOE, June 24, 2023, 09:00:23 PM

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JOE

June 24, 2023, 09:00:23 PM
...or is the US Economy fundamentally different which could prevent this outcome?



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https://www.theguardian.com/business/2023/jun/08/eurozone-sinks-into-recession-as-cost-of-living-crisis-takes-toll">https://www.theguardian.com/business/20 ... takes-toll">https://www.theguardian.com/business/2023/jun/08/eurozone-sinks-into-recession-as-cost-of-living-crisis-takes-toll


QuoteThe eurozone slipped into recession in the first three months of the year, after official figures were revised to show the bloc's economy shrank as the rising cost of living weighed on consumer spending.



Figures from Eurostat, the EU's statistical agency, showed gross domestic product (GDP) fell by 0.1% in the first quarter of 2023 and the final three months of 2022 after revisions to earlier estimates. A technical recession is generally defined as two consecutive quarters of negative growth.



Previous estimates suggested the single-currency bloc had narrowly avoided recession with zero growth in both quarters.



The updated figures showed the wider EU swerved a recession after GDP rose by 0.1% in the first three months of the year, after a contraction of 0.2% in the final quarter of 2022.

Frood

#1
June 24, 2023, 09:22:03 PM
Recessions gets called long after they start. Almost the entire world has been in recessions starting early covid.
Blahhhhhh...

caskur

#2
June 25, 2023, 06:37:26 AM
Not me, I am swamped in possessions and money....



I can bunker down for a decade...
"I think having land and not ruining it is the most beautiful art that anybody could ever want."
- Andy Warhol

Oerdin

#3
June 26, 2023, 12:56:13 PM
With Biden making sure the economy slows to a crawl a recession is almost assured.

Oerdin

#4
June 26, 2023, 01:25:15 PM
https://finance.yahoo.com/news/most-likely-economic-scenario-boil-191500691.html">https://finance.yahoo.com/news/most-lik ... 00691.html">https://finance.yahoo.com/news/most-likely-economic-scenario-boil-191500691.html

Lokmar

#5
June 26, 2023, 01:42:15 PM
I still say we've been in a recession for 8 months or more. The difference between previous recessions and this one is goods are so short that demand was never satiated. if durable goods had been available for the past year, we'd be in a recession right now that would be very severe. Availability on many things is about like Soviet Russia. Go try to order a car and while you're at it, or look at how empty the average car lot is. Hell, most dealerships could get by with 1/3 of the land they currently have for cars. The fukin store shelves are sporadically empty too. Its way better than covid but some stuff never even came back. My mom just got some new appliances and had to wait several months for a fridge. Some articles say tampons are short too. At least thats one problem we could solve by removing them from the mens fukin bathroom!

Blazor

#6
June 26, 2023, 02:20:53 PM
We've been in one, but its about to get worse.



Y'all notice all the military movement across the country? The big wigs getting satellite phones? Something coming, and they know it.



I've heard the government is planning to introduce the Federal digital dollar next month. That when it hits, shit gonna crash. And when that happens, there will be riots. Perhaps this is why the military is in the major cities?



Interestingly enough, the Federal Reserve was introduced right after the sinking of the Titanic. Digital dollar introduced after the other sinking?



I plan to stock up on some items like instant taters, tuna, and rice this week. When and if the crash happens, you wont be able to buy shit.
I've come here to chew bubble gum, and kick ass. And I'm all out of bubblegum.

JOE

#7
June 27, 2023, 11:23:27 AM
Quote from: Frood post_id=504394 time=1687656123 user_id=1676
Recessions gets called long after they start. Almost the entire world has been in recessions starting early covid.


Are you feeling 'the Heat' down unda', Frood?



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This report says Australia is slowing down too.



Wonder if caskur can comment as well.
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