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I think you're making this more difficult than it is. 1. Different people have different definitions of recession. Two quarters is probably the most widely use

I think you're making this more difficult than it is. 1. Different people have different definitions of recession. Two quarters is probably the most widely used and known one, so it's perfectly valid to use, but not everyone may agree so you can see differences. 2. People have ulterior motives for calling a recession. Even the same dishonest person will use different definitions at different times according to who can be blamed or credited. And there are a lot of dishonest people in government and corporate media. So put all that aside. "The US is in recession." That's a perfectly reasonable statement that anybody can understand in context even those who have a slightly different definition where it doesn't fit.

RC_ITR 4y ago
>I think you're making this more difficult than it is. I think you're missing the entire point Whether or not the US is in recession is a very complex decision that is usually easy to make because most of the metrics move in the same direction. A lot of people (you included) are still living in that world despite the fact that all the metrics are extremely weird right now (pandemic, etc.) The fact that no one is talking about the weirdness is a major problem. And you know who will talk about the weirdness? NBER.
- throwawaylinux 4y ago
  I'm not missing the point, you are missing mine. > Whether or not the US is in recession is a very complex decision No, whether or not some government department proclaims the US to be in a recession is based on that "very complex decision". That does not make the other more widely used and known definition of the word wrong or less valid. "The US is in a recession". Perfectly valid and reasonable statement and any economist and most people vaguely interested in economics and politics will know exactly what is meant if they heard that today.
  - RC_ITR 4y ago
    >"The US is in a recession". Perfectly valid and reasonable statement and any economist and most people vaguely interested in economics and politics will know exactly what is meant if they heard that today. Agree to disagree I guess

RC_ITR 4y ago

>I think you're making this more difficult than it is. I think you're missing the entire point Whether or not the US is in recession is a very complex decision that is usually easy to make because most of the metrics move in the same direction. A lot of people (you included) are still living in that world despite the fact that all the metrics are extremely weird right now (pandemic, etc.) The fact that no one is talking about the weirdness is a major problem. And you know who will talk about the weirdness? NBER.

throwawaylinux 4y ago
I'm not missing the point, you are missing mine. > Whether or not the US is in recession is a very complex decision No, whether or not some government department proclaims the US to be in a recession is based on that "very complex decision". That does not make the other more widely used and known definition of the word wrong or less valid. "The US is in a recession". Perfectly valid and reasonable statement and any economist and most people vaguely interested in economics and politics will know exactly what is meant if they heard that today.
- RC_ITR 4y ago
  >"The US is in a recession". Perfectly valid and reasonable statement and any economist and most people vaguely interested in economics and politics will know exactly what is meant if they heard that today. Agree to disagree I guess