Numbers do not lie.
Looks like it might be time to redefine what a recession is.
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That’s not how the NBER defines a recession (this isn’t a change either) and they make the call. We went through this in a past thread.
The two consecutive quarters of negative growth is typical but not always.
It has been since I have been alive.
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So now the liberal media is following the democrat talking points of its not a recession unless we say it is. You should know the drill by now - it depends upon what the meaning of the word “is” is…and of course which party is in power in the White House.
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Yes, the 2 consecutive quarters of negative gdp was always my bedrock definition of a recession. But like last one, the early pandemic shutdown got labeled as a recession too. So
the first mini recession earned a footnote entry in my book and this one will as well as long as
you have the strong monthly job data and the help wanted signs everywhere.
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Two consecutive quarters has always been the definition and will always be. You can spin it in any which way you want. Facts are facts.
Are we going to review every previous recession and keep/adjust past data? Going that way makes no economical sense. You either have metrics or not.
Housing pricing is adjusting with no end in sight. When was the last time that it happened?
Pumping more GVT spending money into the economy is only going to add gasoline to the inflation fire. Instead of doing so we ought to have less GVT spending.
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That’s not a fact. The facts are that’s not the definition. Otherwise the pandemic wouldn’t have had a recession. You’re wrong.
The NBER makes the call. Not you.
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Look it up and find out who is right. Thank you.
I did and I’m right.
Officially, the NBER defines recession as “a significant decline in economic activity that is spread across the economy and lasts more than a few months.” The bureau’s economists, in fact, profess not even to use gross domestic product, the broadest measure of activity, as a primary barometer.
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You have to acknowledge the last recession of 2020 got labeled that way too because of its severity. This is about a chance to learn the finer points of a recession. The last recession was
not a traditional recession either. This one isn’t a traditional recession either; so far.
So you are against the bill to start chip manufacturing in this country ?
If you fear inflation so much as you claim, you should be thrilled the economy shows some contraction. You can’t have it both ways.
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Chris,
Like you, I had always used this as my main metric for recession. Like last time,
I learned that was not precisely correct. Live and learn.
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And soon we can expect to be informed by the White House and their media partners that “stagflation” is not defined as a stagnant economy (ie: recession) combined with increasing (federal government spending fueled) inflation…but rather as just another thing that’s “Trump’s fault.”
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It won’t matter for some but here’s a couple of hypotheticals.
Are we in a recession if we consecutive quarters of -.1% but not if we have one at -.1 and another at +.1%? What’s the real difference there? Not much, obviously,
Ok, are we not in a recession if we have one quarter at -50% and the next at +.1%? That feels far worse than two consecutive quarters of -.1%, right?
There is a reason why the real definition isn’t consecutive quarters and never was. It’s not that simple nor should it be.
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You are showing your left leaning tendancies again.
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Nonsense. You see the world through your politics. I don’t.
I was talking about this long before today as NRG mentioned. Any objective person would look at the facts. I’m talking about facts and how a recession is defined. You’re talking about politics, as usual.
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No i get this is a different type of recession, but recession it is.
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Says who? Tell me how I’m wrong. Not what you think. Objectively speaking, not your feeling.
The NBER defines recessions and always has. Why is that wrong and who says so?
Your wrong your political leanings are showing
You got nothing, as usual. You quickly give up when we get to the facts.
Debate with facts, not your feelings. I gave you plenty to debate and you ignore it.
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