4 ms·
Worth noting, if you don’t follow this type of news closely, that The Economist publishes a piece saying a recession either is or isn’t happening every few week
by mkmk 4y ago
Worth noting, if you don’t follow this type of news closely, that The Economist publishes a piece saying a recession either is or isn’t happening every few weeks.
- themitigating 4y agoIsn't that true? At every point we are either heading towards a recession or not and it's a magazine dedicated to the economy and business.
- oblio 4y agoTrue, but in economics (I guess in life, too?), timing is everything. It's "boy cried wolf", otherwise.
- Jensson 4y agoIt's "boy found wolf tracks, but no wolf came that night, so people called the boy a liar".
- Spivak 4y agoIt’s “boy found wolf tracks in the woods where everyone knows there’s wolves already but is sure this time the tracks mean they’ll attack.”
- r3trohack3r 4y agoThere are two lessons in the boy who cried wolf. Every day the boy would cry wolf and eventually the towns people stopped believing him. Then a wolf came and the boy had already lost his credibility so nobody believed him. Then the wolf ate all the sheep. The first lesson is the boy’s, don’t burn trust by crying wolf. The second lesson is the town’s. They let the boy desensitize them to wolves and now all their sheep are dead.
- oblio 4y agoThere's too many "boys crying wolf" talking about economics for any of them to be trustworthy. You are either cautious and follow responsible financial principles or you don't. No amount of "boys crying wolf" will sway you one way or another, when 99.99999% of the time they're wrong anyway, or worse, they have a vested interest in you following along with what they're saying, and they want you do it it at this <<exact>> moment.
- staticman2 4y agoWell, you just inspired me to look up the story, and the sheep are scattered, not dead, because obviously a single wolf wouldn't eat all the sheep. It would be an odd story if the lesson is "always believe people who don't tell the truth."
- dragonwriter 4y agoAt every point in time we are both heading for a recession and heading for an expansion, differing only by time window.
- dagw 4y agoThe Economist publishes a piece saying a recession either is or isn’t happening every few weeks. If you actually read those articles you'll tend to find they don't actually say "a recession is (or isn't) happening". They actually say "These specific factors indicate a likelihood of a recession (or not) in this particular area based on the following assumptions".
- blululu 4y agoThis seems like a pretty pedantic reply. Yeah they have a vague CYA after the click bait headline. The OP is clearly responding to the fact that the original click bait headline and the tenor of the article intimates a much higher certainty than an unqualified 'slight indication' might convey. It's like GPT Chat where the syntax is flawless and the writing is authoritative regardless of its relation to reality. There is maybe a reason that a bunch of upper crust people in London, who are really interested in finance, weren't able to get high paying jobs in working in finance.
- comte7092 4y agoExactly, this is what clickbait is. Attention grabbing headlines making bold claims, with articles that have more measured statements. Publications know that most people just read headlines, walking the headlines back in the article is disingenuous. (Note this is usually not the writers fault, headlines are chosen by editors to maximize engagement)
- yrdmb 4y agoIt's not just the economist. So many finance publications have been predicting a recession for years. I guess their logic is that sooner or later they'll be right. The Peter Schiff school of economics.