4 ms·
It's not the definition. If you have 2 quarters of negative growth, but everything else is good... what's the point of even calling it a recession? It loses it'
by randomopining 4y ago
It's not the definition. If you have 2 quarters of negative growth, but everything else is good... what's the point of even calling it a recession? It loses it's value as a word.
2008 was clearly a recession, people felt it. Everybody seems to be doing fine right now as a collective. Very few people have lost jobs so far, as seen in the unemployment numbers. Just some overpaid tech
- AnimalMuppet 4y agoIf you have 2 quarters of negative growth, that means that the economy is producing less stuff for at least 6 months, and increasingly less. That means that there's less for people to buy/consume/use. That's likely to mean that "everything else is not good".
- ModernMech 4y agoI notice you use the qualify your statement with "likely". Does that mean you agree things could still be good in some circumstance?
- AnimalMuppet 4y agoWell, maybe, but I don't see how. I mean, people could be happier or something, but recession is an economic thing rather than a psychological one. If there's less stuff, then I don't see how there isn't "other things that are less good". Employment, inflation (people bidding for less stuff with the same amount of money), shortages... it's got to show up somewhere... doesn't it?