Xuanling posted: " Are we in a recession? Well, it depends on who you are talking to. https://twitter.com/countdraghula/status/1552862669300191234 The traditional view is when there are two consecutive quarters of decline in a country's real gross domestic product " Cryptobite
The traditional view is when there are two consecutive quarters of decline in a country's real gross domestic product is commonly used as a practical definition of a recession.
Nowadays, we cannot agree on the definition anymore. Everything is open and up to debate.
The bad news: everybody expects inflation, recession, and bad macro. In fact, markets expect things to be as bad as the 2008 global financial crisis and 2020 covid (blue line). The good news: this expectation is already priced in! That's why rates are high and stocks/bitcoin low. pic.twitter.com/V3jQiWHs9y
From the government bailout companies to not allowing a recession anymore in the economy, where are we heading if there is no clear guidance on the economy from the government?
It's likely that the U.S. economy will never be in a #recession again. If we no longer have an objective standard to define one, government will always be able to find some excuse to claim the economy isn't in one. Ironically, we're not in a recession now. We're in a #depression.
But that is okay, and we can redefine everything from now on.
They redefined the definition of a vaccine. They redefined the definition of gender. They redefined the definition of a recession. … …. Don't let them redefine you.
— Wall Street Silver (@WallStreetSilv) July 29, 2022
If a recession is caused by humans and is a man-made event, the government has the right to change the definition. Since the government has been created collectively to represent the majority of the people in the nation, they have a right as a creator of the collective force to change the definition of the recession.
Feel like some people need to see this.
We are officially in a recession.
Biden and his administration can try to change the definitions of words so that they can shift the goalposts and look better, but we're officially in recession.
Then refusing a recession is a violation of natural law.
Do your own calculation, but it looks like the wiki entry for "recession" has been going through a significant uptick in edits... pic.twitter.com/rKzUYlDlHf
I think a recession is man-made, and it is okay for the government to change the definition if they want to. They have to convince citizens that the change is acceptable.
So, we are in a recession according to the traditional definition, but we may not yet be in the recession if the broader definition claims "a significant decline in economic activity that is spread across the economy and that lasts more than a few months."
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