Re:Forecast for US Recession Within Year Hits 100%
by stevenhubertron on Wednesday October 19, 2022 @11:11PM
(#33270391)
It's a common misconception because of crappy media that that alone is how to determine a recession. There was a good Planer Money on it a month or so ago. Either way the goal right now IS a recession. That's why interest rates are up but despite this we keep buying shit we don't need.
Re:Forecast for US Recession Within Year Hits 100%
by roflyear on Thursday October 20, 2022 @12:16AM
(#33270761)
Why do people keep posting this?
Re:Forecast for US Recession Within Year Hits 100%
by lilsoso on Thursday October 20, 2022 @12:42AM
(#33270895)
It's one of the textbook definitions of a recession from a first year college economics course. That is, it's a standard definition of a recession.
For example, to quote the IMF:
"Most commentators and analysts use, as a practical definition of recession, two consecutive quarters of decline in a country’s real (inflation adjusted) gross domestic product (GDP)—the value of all goods and services a country produces (see “Back to Basics,” F&D, December 2008). Although this definition is a useful rule of thumb, it has drawbacks." (https://www.imf.org/external/pubs/ft/fandd/2009/03/pdf/basic...)
David Sacks points this issue out rather well.
Bloomberg is 100% right.