2 ms·
If you want to get really pedantic the US is not officially in recession until the NBER says so [1]. [1] https://www.bea.gov/help/glossary/recession https://ww
by misosoup64 4y ago
If you want to get really pedantic the US is not officially in recession until the NBER says so [1].
[1] https://www.bea.gov/help/glossary/recession https://www.bea.gov/help/glossary/recession
- kbelder 4y agoAt least, according to the NBER.
- lurquer 4y agoHow can economists say, for instance, Argentina is in a recession? Or Ireland? Or Australia? Does the NBER make such determinations for all countries? Ha. Are you being pedantic por are you being gullible? The term recession has been well-defined in economics for decades.
- ls15 4y ago> The term recession has been well-defined in economics for decades. It's been so thoroughly defined, that there are even multiple conflicting definitions.
- david927 4y agoWhich is all to avoid having to admit you're in a recession to avoid the self-fulfilling prophecy aspects of that. Economists, of course, have a lot of pressure sometimes to avoid speaking the truth, lest they exacerbate the situation. I get that. Again, I'm not concerned that we're "going into a recession." I'm concerned that we're going into a depression, or decades of stagflation, or war.