Topic: Is the US economy in recession? (Read 593 times)

Let me explain everything better
1. The topic about the petrodollar, I like it too
I always ask the question - is it impossible to sell oil for another currency? For some reason they don’t give an answer, or they tell all sorts of fairy tales. Because the answer is - IT IS POSSIBLE, but no one needs it
The dollarization of the world did not occur because of some kind of oil-market relations, but because a lot of changes took place after the Second World War. Both political and economic. And all over the world. The world needed to find some kind of universal, fairly stable, massively recognized means of mutual settlements and valuation. The only option at that time was the US dollar. Other countries either lay in ruins or did not realize this possibility. In a word - let's forget the fairy tale about the petrodollar!
2. “So countries like Russia, China, India and others have carved out a new niche. But when they wanted to exchange their rupees and yuan for high roller dollars, the high rollers were not very enthusiastic. The age-old adage “no exchanges” was used. It was like waiting for a feast at a herbivore's house, only to get an exquisite set of greens." - Yes, that's exactly what happened - India and China are simply tearing Russia apart, buying everything for a penny. It's like the game of the ancient conquerors of America - they gave the local population worthless glass beads, in return they got gold, just like now China and India give Russia beautiful multi-colored yuan and rupees, take away everything that is still possible to take from Russia, and smile sweetly, calling themselves friends and partners

Here we stand, ensnared in a tangible round of the grand old game of Monopoly, with the big leaguers contemplating a "From Dollars to Something Else" stratagem! But allow us to hit the pause button and take a trip down memory lane to grasp the full scope. The Petrodollar play has been on the board for some time. Several nations attempted a plot twist by distancing themselves from the dollar system. But lo and behold, the dollar is like that perennially over-performing student - omnipresent! And just like in the schoolyard, not everyone is keen on swapping their prized possessions for your DIY denomination.

So, nations like Russia, China, India, and others started a new niche. But when they wanted to exchange their rupees and yuan for the high rollers' dollars, the high rollers were rather unenthusiastic. The age-old adage of "no tradebacks" was invoked. It was like anticipating a feast at a herbivore's home, only to be served an elaborate array of greens.

So yes, the so-called "alternative" currencies aren't exactly flourishing in the playground of world economics.

The USA is the world's strongest economy, and it can be said that the US economy dominates the world. If there is a problem with the US economy, it is certain that other countries' economies will also have problems. Of course, we still remember the economic recession that occurred in the USA in 2008, when the economic conditions in many countries also experienced difficulties and recession.

yes, i saw USD inflation is not good. it will make price more expensive so people stop buying some stuff so it will be a problem for people who are in business.
ROI is going down, the unemployment rate rises while the price is going up. several companies failed to pay debts and and several companies went bankrupt.

The whole global economy is in the road to a long term recession because the graph proves that almost every country is hit by inflation and reoccurring inflation gives birth to recession.
But talking about USA, for now they are not on recession unless a link is shown me where the opposite is said. For recession to hit a stable economy like USA, it therefore countries like my own (Nigeria) should be roasting in recession. Even if USA is into recession it will take them lesser time to escape than many other countries.

Well, about to be in a recession, but is staunched by a lot of stuff including the recent increase in the US debt ceiling which is something that is highly needed in order to fend off the impending recession. But thus far, it must be noted that almost all efforts made by the country is all just band-aid resolutions meant to stop the inflation for the meantime, and until two years from now increase in debt ceiling will definitely work its charm but after that, we might have to face the music.

This recession's been a long time coming with US belligerently misusing its funds during the height of the COVID pandemic, plus other stuff that's been bugging them for the last 10 years. All of this contributed to an already hard to counter situation, and it's only time that will tell if the US will be able to really fend this off for good, or a recession is to come.

Recession is going on all over the world, in some countries it is less and in some countries it is more. If I say from my opinion then I will say yes USA can fall into financial recession. And the reason for this is that many states are now moving away from their circle. However, a large part of Europe is on their side, and many countries in Asia are also in their circle, but many of these countries are now bordering Russia and China. And as a result of this their power has now started to weaken. And in view of this it can be said that in the future they may have economic recession

I don't think anyone would allow the U.S. economy to slip into recession. Yes, they talk about it all the time, but the purpose of this is to manipulate the market and redistribute property (people scared of a supposed recession are selling a lot for next to nothing, but that's their choice).

When you tell such fabulous stories, don't forget to give real facts about how this "alternative" actually looks like
Let's look at the reality: after sanctions and an embargo on the supply of hydrocarbons were imposed against the country of the terrorist, the "friends of Russia" - India and China - immediately became active. And it was they who suggested - "let's de-dollarize the market, to spite the United States, and we will sell everything for our currencies, and they are better than the dollar, really!" And Russia began to sell gas, and primarily oil, to India and China, for Indian rupees and Chinese yuan. And they sold a lot of oil, with huge discounts! Before this stage, except for the "penny prices" for which Russia sells oil to these "friends", everything was going well.
But when Russia decided to exchange rupees and yuan for dollars, which Russia "needs like air", it turned out ... That they cannot be exchanged for dollars! And no one sells sanctioned goods for rupees and yuan. Well, or buy low-quality "copies" of sanctioned goods and technologies from India and China

I think it was a "perfect plan"

Kids know the economic definition of recession, but as a citizen, all that matters to me is not the definition of recession, but rather the impact of recession, which appears in people losing their jobs, lack of spending and families trying to rationalize in the hope of achieving a net economic profit until the individual finds a job.
Citizens do not feel the slight, phased and controlled inflation, which does not affect their jobs to the extent that causes citizens to panic or stop the economy. Deep inflation is what causes problems for individuals, and that panic may have greater effects than inflation. United States is aware of the seriousness of inflation and as long as the economy is predictable. Even if it happened, the results would not be catastrophic.

I think from the time being US economy is currently not in a recession, though it experience a down trend last 2020 due to pandemic. Usually a recession happens when there is a decline in economic activities that could last for several months and if there are decrease in the gross domestic product, employment and the others. Recession could have significant impacts on individuals and businesses., including job losses and decreased in  spending. So i think the recession is not occurring for the meantime in the US.

I think people can easily see problems such as the decrease in production and sales of businesses, the purchasing power of consumers, as well as the interest rate and decrease in investment,... to know that cause of the economic downturn. While assessing a recession accurately, it is necessary to consider medium and long-term economic developments, the influence of internal and external factors, and market fluctuations. Methods to quantify a recession include tracking the movements of key economic indicators such as GDP, inflation, unemployment, industrial output, and trade. Information on economic activity, sales of goods and services and consumption indicators is also another predictor of economic activity.

I'm just asking does the U.S have a gold back-up? As far as I know there is none, besides that the U.S. is deeply in debt right now. And what I also know is that its debt is worth 31T$, and it looks like it's running out.

       We don't know if the U.S. will default or not, either of these two today until tomorrow we will know if the value of bitcoin will rise or fall down? When bitcoin goes down, it's probably because of the recession, maybe, this is just my opinion.

Latest debt of US - https://www.pgpf.org/national-debt-clock?

I think the US economy is still strong and stable, if there is a recession the central bank will immediately resolve it, of course we know that if there is a problem with the USA it will have a global impact because many countries make the USA their economic standard and many owe it to the USA.

Regarding whether the US economy is in recession, we must refer once again to existing economic data, whether there has been the latest posted data update from related parties, even though previously the US Gross Domestic Product (GDP) Growth has shown consecutive negative numbers as you said. I think that even though the US is in a recession, the economists are also thinking hard about reducing this impact so that there is no significant decline in overall economic activity.

To measure a recession, there are core elements to consider. One is to evaluate negative GDP growth in two consecutive quarters. However, this is not the only factor used in recession assessments. Other factors include changes in the unemployment rate, business investment, private consumption, and other economic indicators.

If I'm not mistaken Recession is generally defined as a significant reduction in economic activity, usually measured by a decrease in Gross Domestic Product (GDP) for two consecutive quarters. However, if you look at other very complex economic indicators, such as declining employment, industrial production, and consumer spending, they are also considered when assessing the state of the economy.

To measure a recession, economists usually look at a variety of indicators, including GDP, employment rates, industrial production and consumer spending. The National Bureau of Economic Research (NBER) is responsible for announcing the start and end of a recession in the United States. NBER uses a variety of data sources and economic indicators to determine the duration and severity of recessions.

U.S. economy? Massive! But hold on a second. A pandemic? The inequity of our system is shown in a glaring light. They all got rich, but what about the others? Major difficulties.

Individuals must take precedence over corporations. Healthcare, education, and welfare are not privileges that should be reserved for the fortunate few. Chinese technology used in the United States? That's fantastic, but don't neglect Mother Nature or the hardworking people who inhabit it.

We require a sustainable and equitable system. A world that does not favor the wealthy above everyone else. We need to switch things up and try something new.

Mainly due to the decrease in the growth rate of the United States, the overall world economy will deteriorate. These countries are the main export destinations of developing countries. For that reason, if the economy of these regions loses momentum, the growth of developing countries will also slow down. The plight of the global economy has been blamed on high inflation as food and fuel prices around the world rose last year due to the Russia-Ukraine war. Political reasons have reduced the Western world's dependence on Russia's fossil fuels.

I think that if the housing market finally crashes in the US, we might be able to call it a recession, there's a decline in GDP, consumer spending, the impending abandonment of USD as reserve currency by BRICS and then the credits are already tightening, US is on the verge of an economic recession if they're not already there.

So, has the National Economic Research Bureau (NBER) recently announced the latest recession in the US? Because the latest news from them really needs to be known in order to see how far the recession level has arisen there. After all, it is really related to the economy so that each country can be very prepared for a recession when it starts happening in its own territory.