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Recession has always meant two quarters of declining gdp. Or at least since I studied economics back in the 90s. This seems bull-headed like claiming that infl
by prepend 4y ago
Recession has always meant two quarters of declining gdp. Or at least since I studied economics back in the 90s.
This seems bull-headed like claiming that inflation was only temporary a year ago. Using the wrong definition doesn’t help us any. It just makes people look stupid and/or detached from reality.
- kombucha13 4y agoThe NBER defines recession as: "a significant decline in economic activity spread across the market, lasting more than a few months, normally visible in real GDP, real income, employment, industrial production, and wholesale-retail sales". So make of that what you will