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There are ZERO changes or decision anyone can make (including policy) based on whoever's definition of recession is.
It's really weird that humans come up with these arbitrary definitions that doesn't matter but choose that hill to die on.
Thought experiment: Knowing and feeling all the economic news around you, what decision would you make if (or what decision should policy makers make)
a) we are in some arbitrary definition of Recession?
b) we are not in some arbitrary definition of Recession?
There really is none
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There are ZERO changes or decision anyone can make (including policy) based on whoever's definition of recession is.
It's really weird that humans come up with these arbitrary definitions that doesn't matter but choose that hill to die on.
Thought experiment: Knowing and feeling all the economic news around you, what decision would you make if (or what decision should policy makers make)
a) we are in some arbitrary definition of Recession?
b) we are not in some arbitrary definition of Recession?
There really is none