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The link you posted supports the GP’s assertion that not declaring the current economic situation as a recession is politically motivated. The third paragraph s
by dizzant 4y ago
The link you posted supports the GP’s assertion that not declaring the current economic situation as a recession is politically motivated. The third paragraph specific cites common criticism of the NBER on that very front.
That there could and should be some more sophisticated, objective definition of a recession than “two years of GDP decline” isn’t in question. But, at least according to your own source, NBER fails to provide that definition and is commonly criticized for is subjectivity during political years.
- eigen 4y ago> The link you posted supports the GP’s assertion that not declaring the current economic situation as a recession is politically motivated. 1/5 indicators shows significant decline (real GDP) I'll give you. but 1/5 is slight decline (real income 1% down), the other 3 (employment, industrial production, retail sales) are up. this is based on data available from FRED, do you have data showing otherwise? links at https://news.ycombinator.com/item?id=33032470#33036403 https://news.ycombinator.com/item?id=33032470#33036403