The term recession used to be defined as 2 quarters in a row of negative growth.

 

 

Wikipedia has since changed and locked the wiki  page that defines recession:

 

 

The White House spokesperson said they are not going to define recession.

 

 

Is this US in recession? 

 

 

 

We are clearly in SOMETHING cause inflation is REAL

 

I just dont see how people are shocked by this. We came out of a once in a lifetime pandemic and so much money was poured out. Clearly we were gonna feel it sooner than later 

Edited July 29, 20224 yr by FreeXone

 

I mean, everything here is completely true? The 2 quarters thing is a commonly used definition (as it clearly states in the wikipedia article) but there has never been an "official" definition of recession, and Bill Clinton was not president of the world. Very strange conspiracy theory. 

Us isn't in recession but it is 'technical'

Can't have a recession if you can't define it 

4 minutes ago, Smarticle said:

Can't have a recession if you can't define it 

How lucky for the whitehouse spokesperson!

14 minutes ago, Dephira said:

 

I mean, everything here is completely true? The 2 quarters thing is a commonly used definition (as it clearly states in the wikipedia article) but there has never been an "official" definition of recession, and Bill Clinton was not president of the world. Very strange conspiracy theory. 

NBER, which is the definition used by the whitehouse, used to define it as 2 consecutive quarters of negative growth. They have recently changed it. Why wouldn't the NBER defintion be an official definition? By that logic, there is no official definition for anything.

Edited July 29, 20224 yr by AlanRickman1946

Why are they using Wayback Machine for Wikipedia when the history of the page is public they could've just linked to this

Wikipedia pages get locked all the time to prevent vandalism, POV edits and so on. If you're not okay with it use the talk page and stop whining

 

EDIT: the article is SEMI-PROTECTED even anyone who's registered can edit

Edited July 29, 20224 yr by KillingYourCareer

4 minutes ago, AlanRickman1946 said:

NBER, which is the definition used by the whitehouse, used to define it as 2 consecutive quarters of negative growth. They have recently changed it. Why wouldn't the NBER defintion be an official definition? By that logic, there is no official definition for anything.

The NBER is a private non-profit, how would anything they do be considered "official"?

5 minutes ago, AlanRickman1946 said:

NBER, which is the definition used by the whitehouse, used to define it as 2 consecutive quarters of negative growth. They have recently changed it. Why wouldn't the NBER defintion be an official definition? By that logic, there is no official definition for anything.

And the NBER has never defined recession as 2 consecutive quarters of negative growth. Source for that? It's an organization of academics and professional economists who use a much more complex set of data to determine recessions. 

Here's an article from 2020 where the NBER declares a recession based on completely different criteria:

 

The U.S. entered a recession in February, according to the official economic arbiter (cnbc.com)

10 minutes ago, AlanRickman1946 said:

NBER, which is the definition used by the whitehouse, used to define it as 2 consecutive quarters of negative growth. They have recently changed it. Why wouldn't the NBER defintion be an official definition? By that logic, there is no official definition for anything.

They defined it as a 'technical' recession that's true but it was never really an actual irl recession

 

A real recession is like COVID, global financial crisis times etc. but we're clearly not even close to that

Biden's America.

 

Can't have recession if you can't define it.

 

13 minutes ago, Dephira said:

The NBER is a private non-profit, how would anything they do be considered "official"?

The whitehouse spokesperson said she would leave it up to them.

 

12 minutes ago, Dephira said:

And the NBER has never defined recession as 2 consecutive quarters of negative growth. Source for that? It's an organization of academics and professional economists who use a much more complex set of data to determine recessions. 

Here's an article from 2020 where the NBER declares a recession based on completely different criteria:

 

The U.S. entered a recession in February, according to the official economic arbiter (cnbc.com)

That link calls it official economic arbiter.

 

 

 

 

12 minutes ago, AlanRickman1946 said:

The whitehouse spokesperson said she would leave it up to them.

 

That link calls it official economic arbiter.

 

 

 

 

Now quote where the NBER defined a recession as "two consecutive quarters of negative growth" 

I’ve been hearing about a looming recession for the past year, almost to the point that it seems like some people actually want a real recession to happen.  

Information control in order to ameliorate election losses for Democrats.

I thought this was going to be another messy Monsters VS Beyhive thread

 

 

USA is fuckin over

11 hours ago, Archetype said:

I’ve been hearing about a looming recession for the past year, almost to the point that it seems like some people actually want a real recession to happen.  

ding ding ding! it's the same people that wanted society to shut down over COVID (who would still prefer it to be shut down because they once met an immunocompromised person 10 years ago)

I wonder what the Biden administration thinks they can achieve by gaslighting people into believing that inflation wasn't happening and now that recession isn't happening  It's truly mind-blowing that this is their strategy

This administration is such a joke 

 Congrats to everyone who enabled this. Can't wait for them to say that homelessness and poverty are ''undefinable'' and thus don't really exist. 

7 hours ago, Lost In Paradise said:

ding ding ding! it's the same people that wanted society to shut down over COVID (who would still prefer it to be shut down because they once met an immunocompromised person 10 years ago)

People fail to realize, while connected, inflation and recessions are not the same thing.  One can contribute to causing the other, but it is not a definite, certain cause every time.  Anyone who was alive during the 08-09 recession would realize whatever we’re going through now is very different, and companies have learned since last time by slowing hiring and conserving money *in the event* of a recession.