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>recession likely glooming Just to be clear, we're in a recession and have been for a while now, despite government administrators attempts to change the defin
by antibasilisk 4y ago
>recession likely glooming
Just to be clear, we're in a recession and have been for a while now, despite government administrators attempts to change the definition.
- reducesuffering 4y agoLast two quarters of GDP growth were 3.2% and 2.6% positive. By what possible criteria are you using to assert we’re currently in a recession?
- ForHackernews 4y agoThere's a Democrat in the White House, haven't you heard? Terrible for the economy. What other criteria do we need?
- antibasilisk 4y agothe person sitting in the white house doesn't control the economy. The recession started when trump was still in office and is continuing under biden
- ForHackernews 4y agoSorry, I thought my sarcasm was obvious enough to not need a "/s". But see above, there is no "recession". The economy is growing. Interesting reading: https://www.economist.com/briefing/2023/04/13/from-strength-to-strength https://www.economist.com/briefing/2023/04/13/from-strength-...
- antibasilisk 4y agoThe economy has not grown substantially since 2020, it's been stopping and starting like a busted engine
- antibasilisk 4y agoLook at January-July 2020 and January-July 2022, and look at GDPC1
- reducesuffering 4y agoAgain, by what criteria are you saying we're currently in a recession? Every period in https://fred.stlouisfed.org/series/GDPC1 https://fred.stlouisfed.org/series/GDPC1 shows that we're not in a recession when our GDP is currently rising consecutively... Your original comment was insinuating political figures are changing the definition. I'm assuming you mean if we just had 2 consecutive quarters of GDP decline then that definitively means we're in a recession... But that is objectively not the case by the figure you just told me to look up. We're in 2 quarters of real GDP increase.
- deleted 4y ago[deleted]
- antibasilisk 4y agoA recession ends when the economy recovers, not when there's one quarter of GDP growth. By your logic you'd have to say that we've had two separate recessions in the past 3 years.