So What Exactly Is A Recession?
I was always led to believe it was 2 consecutive quarters of negative GDP growth. Except according to all the headlines/ news I’ve seen, it’s not? Someone make it make sense.
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That’s the technical definition but I think with some aspects of growth looking positive they’re trying to do some damage control and frame the situation in a more positive way.
You have the correct definition. Dumbasses in congress and tabloids want to rewrite the meaning of words. Remember when inflation was “transitory”? Same shit, different day. In 6 months it’ll be “we underestimated the severity of the recession!!”
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The U.S. government has deviated from the 2-quarter rule for a long time. A recession is officially declared by the NBER based on a combination of factors, including status of the labor market, business and consumer spending, gdp, etc.
Media 🤝 Democrats
You have to respect what the economy wants to identify as and if you can't handle the fact it identifies as not in a recession than you are a BIGOT
What you are referring to is a simplistic definition. If you're genuinely curious, the NBER has a good explanation as to how they view these cycles: https://www.nber.org/research/business-cycle-dating
A downturn is when your neighbor loses his job, a recession is when you lose yours
What difference does it make to your daily life? Will companies change policies cause the NBER says something?
So basically we should be re-writing the entire economics curriculum? Because it this point it’s as if they make these rules up as they go.
Actual definition: a period of temporary economic decline during which trade and industrial activity are reduced, generally identified by a fall in GDP in two successive quarters.
We live in an era of narrative over everything so the administration along with its media stenographers are trying to bury the common sense definition beneath strong employment numbers.
Problem is despite low unemployment the economy has been contracting in real terms for months now. The issues are mainly coming from supply destruction and with super high nominal GDP growth (which is more than 100% inflation at this point), most people aren't really feeling it yet. The pinch is coming...
The Biden administration can spin it however they want, but at the end of the day things are not going well
You’re such a bigot
delete
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