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I know when I see it. What is the definition of “being sick”? You can see prices going up, people losing huge amounts of buying power, companies laying off pe
by pfortuny 4y ago
I know when I see it.
What is the definition of “being sick”?
You can see prices going up, people losing huge amounts of buying power, companies laying off people, all at the same time and almost none of the opposite.
Whatever the time it takes, that is a recession.
- criddell 4y agoOr maybe it's stagflation right now and a recession is coming in 2024?
- Apocryphon 4y agoGood point, recessions and depressions aren't the only type of economic malaise.
- pavlov 4y agoYou don't see anyone hiring in America? Everywhere in New York I see "help wanted" signs. That's the problem with applying "I know it when I see it" to an economy. Anecdotes from our daily lives and viral social media posts don't even begin to tell the full picture of activity among 330 million people. And the aggregate indicators are necessarily lagging.
- jazzyjackson 4y ago> Everywhere in New York I see "help wanted" signs. if they had been hiring, they wouldn't need the help wanted signs - now when i see help wanted i think "doesn't offer high enough wages to get help"