Eriokanmi:
How? Check the value of their currency and their economic situation right now. They've eaten their humble pie in their policy of ruple purchases of their gas by EU. A few days ago, they resumed sale of gas in Euro and usd due to their bad economic condition.

Nigeria's case is such a sorry one. How they allowed investors in the oil and gas sector to leave Nigeria is still baffling. That sector would have been flourishing by now.

Vote out bad government. Vote Obi

Is Russia in recession?

ponziponzi:


I don't care who says what. Not from the same Powell who told us last year that "inflation is transitory" when he had the opportunity to start raising interest rate slowly. He was even promising soft landing earlier this year. Now everything is in a mess and they are adding "technical" to a recession.

OP copied a German reporter that called it a technical recession. A German reporter that is not even American.

The NBER or Powell did not call it a recession. Until NBER calls it a recession then I will agree. As a matter of fact, recession is not new, it comes and goes. Trump had a recession too.

ufotty2001:
Why is dollar high if US has entered technical recession

dollar isnt getting high, its just getting strong against the naira

Drenimarcus:


I tire. They just sprout news out of thin air.

See people arguing that US no den recession.

I don’t want to comment but his comment shocked me as even right now Austria leaders have rejected Poland and Co sanctions on Russia gas but I don’t blame Poland, I blamed German, France and same Austria that was giving Poland and Baltic states free billions of Euros from their own citizen taxpayers every year

seunny4lif:

Russia resumed sales of gas in Euros and Dollars?
Where is your news coming from because even CNN and BBC can’t find that news

make I assist you with Google search...

Drenimarcus:


I tire. They just sprout news out of thin air.

See people arguing that US no den recession.

Those some people are far more educated than you.

They control the US economy i.e the NBER and the federal reserve chair.

What is your own qualification to call it a recession. Nairaland arm chair expert

Until NBER calls it a recession then I will agree. As a matter of fact, recession is not new, it comes and goes. Trump had a recession too.

No biggie.

Angelfrost:


One clown was talking about how the nation's economy has grown this year under Buhari... That Buhari has outperformed his predecessor.

I honestly didn't have the strength to engage the fellow... These days, na to just dey read comments, dey observe your fellow Nigerians.

exactly. The matter don tire person.

Like I warned about Buhari , I also warned Americans about supporting this failure called Joe Biden

Splitmind:
See that we should be grateful for president Buhari, other countries are seriously suffering but we are alright where we are.

How can you be trolling 200m people? Is this normal?

seunny4lif:

I don’t want to comment but his comment shocked me as even right now Austria leaders have rejected Poland and Co sanctions on Russia gas but I don’t blame Poland, I blamed German, France and same Austria that was giving Poland and Baltic states free billions of Euros from their own citizen taxpayers every year

Austria is even saying they are neutral and will not be part of any thing. I pity Germany cos this winter will be devastating for them.

Eriokanmi:
make I assist you with Google search...

So, do you even know the news you are quoting
Do you know why Russia cut gas supplies through NS1 to Germany?
Did the news talked about money or you just bring your own news from beer parlour talk

jimetagambo:

Those some people are far more educated than you.

They control the US economy i.e the NBER and the federal reserve chair.

What is your own qualification to call it a recession. Nairaland arm chair expert

yes they are more educated than I do. I no argue. What else eh BroISNT?

jimetagambo:
Though this started from the Trump era when he bullied the Federal reserve to start cutting interest rates, but it has not been declared a recession yet by Republican appointed Federal reserve chair Jerome Powell and the NBER that determines recession in the US. This is because of low unemployment rate and strong economic outputs.

Lol as usual it’s Trumps fault. A recession is defined as two consecutive quarters of negative GDP growth. Never happened under Trump. Anyone who hasn’t declared it yet is doing so because of politics.

You can say it’s a shallow recession that wouldn’t last long because of other underlying economic factors but don’t try to gaslight us by playing with the definition now or blaming a man who hasn’t been president for almost 2 years.

nomenclature:

Some of you are irredeemable

They love being lied to.
Sheep

SlyfoxxjReturns:


Lol as usual it’s Trumps fault. A recession is defined as two consecutive quarters of negative GDP growth. Never happened under Trump. Anyone who hasn’t declared it yet is doing son because of politics.

You can say it’s a shallow recession that wouldn’t last long because of other underlying economic factors but don’t try to gaslight us by playing with the definition now or blaming a man who hasn’t been president for almost 2 years.

Trump had a recession too. It comes and goes and part of economic cycle. Interest rate cuts bring about I flation which brings interest rate hike which could now trigger a recession.normal economic cycle.

No biggi

Until the NBER calls it a recession, I will just eat by guguru and coca cola with fingers crossed.

1stGenAmerican are u paying attention?

jimetagambo:
Though this started from the Trump era when he bullied the Federal reserve to start cutting interest rates, but it has not been declared a recession yet by Republican appointed Federal reserve chair Jerome Powell and the NBER that determines recession in the US. This is because of low unemployment rate and strong economic outputs.

What are you talking about, The US had its best economy in 50 years under Trump. Explain in clear terms what started under Trump.
Jerome Powell is trying to change the definition of a recession doesn't mean the US is not in a recession.

Drenimarcus:
Any sane person living in the US knows the US is in recession. This just makes it official. Ibime how far?

You posted the below on June 29. Where did you get Q2 data on June 29? What you posted was revised Q1 data of -1.6%, revised from -1.5% and I corrected you. They do revise quarterly data monthly, even the result they posted today will be revised in August.

Drenimarcus:


US GDP QOQ FINAL

ACTUAL -1.6% �
FORECAST -1.5%
PREVIOUS -1.5%

US GDP (QoQ) has shrink twice which means officially in recession. You have data, search for the source mate.

jimetagambo:

Which is the lie.

The Republicans that are now dumping him for DeSantis (Florida State Governor to run for Republican party presidential.candinate for 2024), or Trump's own appointies below that called him names to his face.

There is no politician who doesn't have people who initially supported them who now hate them including Obama, But they will still have lots supporters in their camp, so sorry this does not sell... the same way people hated Jonathan in 2015 but Loved him in 2011 but today who is paying for the hatred, the same thing is happening to America too, who is paying for it, All Americans...

Drenimarcus:


Austria is even saying they are neutral and will not be part of any thing. I pity Germany cos this winter will be devastating for them.

Winter ke
Winter is not even the problem here bro
It’s the manufacturing companies as BWM and Co will have to release at least 50% of their workers then German operates one of the biggest chemical companies in the world, those manufacturing companies will collapse, and German FM said German will enter massive civil disorders.

tctrills:

What are you talking about, The US had its best economy in 50 years under Trump. Explain in clear terms what started under Trump.
Jerome Powell is trying to change the definition of a recession doesn't mean the US is not in a recession.

No, you are wrong. You are arguing with emotions and not facts.

Brendaniel:


There is no politician who doesn't have people who initially supported them who now hate them including Obama, But they will still have lots supporters in their camp, so sorry this does not sell... the same way people hated Jonathan in 2015 but Loved him in 2011 but today who is paying for the hatred, the same thing is happening to America too, who is paying for it, All Americans...

Americans are enjoying. There are lots of jobs. Economy was over heating hence the rate hikes.

I can't recall any GEJ appointed minister calling GEJ stupid or foolish like have seen in the case of Trump.

VeryWickedMan:
Lol
While Russia is flourishing

Russia is starving snd wailing. They have started to succumb and negotiate trade deals with Ukraine.

You're trying hard to discredit trump, but you exalt him without knowing. trump economy never had a recession, regardless of how the fed where increasing the interest rate. He was complaining how Obama operate on zero interest rate even though Obama economy was not as good as trump economy

seunny4lif:

Winter ke
Winter is not even the problem here bro
It’s the manufacturing companies as BWM and Co will have to release at least 50% of their workers then German operates one of the biggest chemical companies in the world, those manufacturing companies will collapse, and German FM said German will enter massive civil disorders.

True. They are already advising Germany govt to open NS2 or else fire on the mountain.

Pilet:
You're trying hard to discredit trump, but you exalt him without knowing. trump economy never had a recession, regardless of how the fed where increasing the interest rate. He was complaining how Obama operate on zero interest rate even though Obama economy was not as good as trump economy

Lol trump had a recession in 2020.
Obama never had a recession in his 2 terms.
Did you guys just started following US politics?

It's a cycle even if the NBER calls a recession tomorrow or next month. It's not the end of the world.

I am going back to my work jare. It's still mid-day here.

Ibime:



You posted the below on June 29. Where did you get Q2 data on June 29? What you posted was revised Q1 data of -1.6%, revised from -1.5% and I corrected you. They do revise quarterly data monthly, even the result they posted today will be revised in August.

Yeah I agree I erred on the data but I was right on "recession" part eh?

U will always know an APC member when u see one always blaming previous administration

jimetagambo:

No you are wrong. You are arguing with emotions and not facts.

You are the emotional one here. Now here are the facts.
Let us examine the success in the first three years of his administration before the coronavirus flattened the economy. The unemployment rate fell less than 4 percent, which was near the lowest in half a century. The inflation rate fell to 1 percent, which was even below the target level set from the Federal Reserve. This has kept the interest rates on mortgages and many other loans down to the lowest level in modern times.

The portion who fell below the poverty line declined to the lowest level ever recorded in 2019. The wealth of households, including their stocks, savings, and real estate, rose to the highest level in history. The Census Bureau saw the median income rise to above $65,000, up by more than $5,000 in three years and double the gains from the last decade.

Almost all of these benefits were most pronounced for minorities, notably Blacks and Hispanics. Liberals counter this record by saying that Trump is now the first president in modern times to lose jobs in four years. This was clearly a result of the pandemic and, unless the left blames Trump for the coronavirus, the critical issue is how well the economy rebounds.

According to most forecasts of the Federal Reserve and Wall Street, the unemployment rate was estimated to be 8 percent to 10 percent. But it has fallen to less than 7 percent from 13 percent in just six months. The growth rate hit a record of more than 30 percent in the third quarter of last year, and it could reach over 8 percent in the fourth quarter.

It is no wonder that by the end of the term for Trump, a majority of voters said they were better off versus four years ago, even with the coronavirus. Contrary to the economic crisis that Joe Biden says he has inherited, most analysts believe the engine of growth will roar back to life this year. That is because of the vaccines that could save hundreds of thousands of lives at home and millions more across the world with our Operation Warp Speed, another success under Trump. That is not a terrible record at all.

jaxxy:


Russia is starving snd wailing. They have started to succumb and negotiate trade deals with Ukraine.

Is Russia in recession?

VeryWickedMan:
Lol
While Russia is flourishing

Russia GDP declined 4.9% YoY while you are celebrating USA 0.9% decline. Putin done turn your brain to pap. Come back on Aug12 when QoQ results are released.

Drenimarcus:


True. They are already advising Germany govt to open NS2 or else fire on the mountain.

I said from day one
Those useless Green Party works for CIA not German citizens but now, it’s clear.
Netherland farmers have been protesting massive blocking highways yet no media about it.
Italia PM was almost beating because of high cost of production from farmers and high inflation and he blamed it on Russia government not his own action of joining anti Russia sanctions yet no media and funniest thing is Italia region of Sicilia now imports around 500K Russia oil per day