• Kalkaline @leminal.space
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    9 days ago

    What Is a Recession? A recession is a significant, widespread, and prolonged downturn in economic activity. A common rule of thumb is that two consecutive quarters of negative gross domestic product (GDP) growth indicate a recession. However, more complex formulas are also used to determine recessions. Current GDP data

    • basmati@lemmus.org
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      8 days ago

      GDP, according to the economist that invented GDP, is not a measure of economic health

      • Kalkaline @leminal.space
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        8 days ago

        That’s not the point, the point is we’re not in a recession as economists define recession (not how Joe Biden defines it).

        • basmati@lemmus.org
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          8 days ago

          That’s nice dear, reality isn’t what the government says it is, and has never been anywhere near anything an economist has ever said.