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It's not really a matter of opinion or what people think. We're already in a recession here in the United States, as we've had two negative GDP growth quarters
by skrowl 4y ago
It's not really a matter of opinion or what people think. We're already in a recession here in the United States, as we've had two negative GDP growth quarters in a row.
Anyone who says otherwise is likely just doing so for political reasons, as it's also an election year here in the United States, but to do so they'd have to literally change the definition of recession (they're trying but it's not working).
- v0idzer0 4y agoI’d argue that anyone using such confident language to declare a clear definition of one of the most subjective and abstract concepts known to man clearly has some ulterior motive. Political or otherwise.
- moistofreason 4y agoThe definition of recession has always been two quarters of negative gdp growth… very recently the current administration in the US changed the definition so as to not look bad.
- criley2 4y agoThis is a classic example of how propaganda works. The layman's definition of recession, which has never been used officially or by policy-makers in America, is this bit about "negative GDP growth for two quarters". But despite that not being how we've always determined recessions here, if you read the reply above, the user has literally invented a political conspiracy about their ignorance about economics. The layman's definition isn't right? It's more complicated than a one-liner on the news? No! It's a conspiracy! This is EXACTLY how the propaganda is designed to affect them. Empower the ignorance such that layman's understanding is the only valid understanding, impugn the experts until economics is nothing more than an election year conspiracy. For anyone interested in the truth of how recessions have been determined in the United States for the past sixty years, it's only about three paragraphs of information https://en.wikipedia.org/wiki/National_Bureau_of_Economic_Research#Recession_markers https://en.wikipedia.org/wiki/National_Bureau_of_Economic_Re...
- braingenious 4y agoThat’s a lot of uses of “conspiracy theory”, “ignorance” and “propaganda” for the proof of your superior intellect and immunity to propaganda to be… a link to wikipedia. Going off how much you have positioned yourself as an expert on economics and human psychology, I was expecting this to end with “Here is a link to my dissertation on this very issue!”
- djmips 4y agoThis isn't a PhD level argument here.
- braingenious 4y agoI agree! I suppose more informed people would probably have spent more of the post talking about the topic at hand rather than throwing around insults and accusing people of spreading conspiracy theories. It is still pretty funny to see someone spend 80% of a post describing their acumen at spotting a social phenomenon (conspiracy theories and ignorance) only to follow it up with a wiki link about something wholly unrelated to ignorance or conspiracy theories. For example, here’s a link to how to gather information: https://en.m.wikipedia.org/wiki/Wikipedia https://en.m.wikipedia.org/wiki/Wikipedia
- wubbert 4y ago>the NBER defines a recession as "a significant decline in economic activity spread across the economy, lasting more than a few months, normally visible in real GDP, real income, employment, industrial production, and wholesale-retail sales". Which we have right now. But don't trust objective observations of reality. Just Trust the Experts™ and call anyone who disagrees a conspiracy theorist.
- eigen 4y ago> "a significant decline in economic activity spread across the economy, lasting more than a few months, > real GDP > real income real income is down ~1% since Sept 2020 or Sept 2021 [1]. hardly seems like a "significant decline". > employment employment has increased since Sept 2020 or Sept 2021 [2] and infact has been steadily increasing since April 2020. > industrial production industrial production has increased since Sept 2020 or Sept 2021 [3] and infact has been steadily increasing since April 2020. > wholesale-retail sales retail sales has increased since Sept 2020 or Sept 2021 [4] and infact has been steadily increasing since April 2020. so 1 of 5 indicators shows significant decline, 1 shows minor decline, 3 show increase. [1] https://fred.stlouisfed.org/series/RPI https://fred.stlouisfed.org/series/RPI [2] https://fred.stlouisfed.org/series/PAYEMS https://fred.stlouisfed.org/series/PAYEMS [3] https://fred.stlouisfed.org/series/INDPRO https://fred.stlouisfed.org/series/INDPRO [4] https://fred.stlouisfed.org/series/RSXFS https://fred.stlouisfed.org/series/RSXFS
- thrown_22 4y ago[flagged]
- genshii 4y agoCare to elaborate?
- freediver 4y agoThere are now two flagged and dead comments replying to this. I wonder what mechanisms do HN users have to interact with those replies?
- thrown_22 4y ago[flagged]
- systemvoltage 4y agoI don't think the response should have been flagged. Sources are directly from CDC. They've changed the definition of what a vaccine is regardless of your position on vaccination.