11–20 of 509 posts
Earlier quoted context omitted.
According to the White House, it is not [1] https://www.whitehouse.gov/cea/written-materials/2022/07/21/...
Kind of amazing how this administration isn’t getting the kind of ridicule that would be expected if the previous administration tried to deny a recession was happening according to the objective definition by including a subjective qualifier. Is this not the same thing as ‘alternate facts’?
Earlier quoted context omitted.
According to the White House, it is not [1] https://www.whitehouse.gov/cea/written-materials/2022/07/21/...
Kind of amazing how this administration isn’t getting the kind of ridicule that would be expected if the previous administration tried to deny a recession was happening according to the objective definition by including a subjective qualifier. Is this not the same thing as ‘alternate facts’?
Earlier quoted context omitted.
According to the White House, it is not [1] https://www.whitehouse.gov/cea/written-materials/2022/07/21/...
Kind of amazing how this administration isn’t getting the kind of ridicule that would be expected if the previous administration tried to deny a recession was happening according to the objective definition by including a subjective qualifier. Is this not the same thing as ‘alternate facts’?
Earlier quoted context omitted.
seems so, although id argue the recession light came on in the cockpit sometime around late 2020...we just chose to ignore it. doubling down on 2010s speculative monetary policy of near negative interest is just wishful thinking, but directing relief grants to multibillion dollar industries was bad comedy. its really hard to imagine how the fed assumed 'free money' was a sober policy to drive one of the worlds larges…
Is dollar going to stop being world reserve currency with 15% inflation?
Earlier quoted context omitted.
According to the White House, it is not [1] https://www.whitehouse.gov/cea/written-materials/2022/07/21/...
Kind of amazing how this administration isn’t getting the kind of ridicule that would be expected if the previous administration tried to deny a recession was happening according to the objective definition by including a subjective qualifier. Is this not the same thing as ‘alternate facts’?
The news has for the most part has not called out Biden’s many missteps. Not even John Oliver is making fun of it.
So it’s official now
I don’t understand all the details.
Personally, I think it would be great to understand the economy at a more basic level rather than what’s put out for the general public to consume in the often overly simplified terms.
For example, the condition of the economy vs the Fed raising rates will be interesting.
The Fed is trying to slow the economy but much of the inflation problem is supply side related.
So it’s official now
According to the White House, it is not [1] https://www.whitehouse.gov/cea/written-materials/2022/07/21/...
For example: "Of course economists have a technical definition of recession, which is two consecutive quarters of negative growth."
-- The head of Biden's National Economic Council, in a past life, apparently.
You can find many other examples in the past of his advisors defining a recession as two quarters of negative GDP. And you can find many examples in the past of the press defining a recession as two quarters of negative growth.
"two negative quarters in a row is a standard indicator for an economic recession."
-- Washington Post, fact checking Donald Trump
What has changed?
Earlier quoted context omitted.
According to the White House, it is not [1] https://www.whitehouse.gov/cea/written-materials/2022/07/21/...
Kind of amazing how this administration isn’t getting the kind of ridicule that would be expected if the previous administration tried to deny a recession was happening according to the objective definition by including a subjective qualifier. Is this not the same thing as ‘alternate facts’?
up until literally 2 weeks ago the media was on about the "biden boom" (lmao)
Earlier quoted context omitted.
Kind of amazing how this administration isn’t getting the kind of ridicule that would be expected if the previous administration tried to deny a recession was happening according to the objective definition by including a subjective qualifier. Is this not the same thing as ‘alternate facts’?
Quoted post unavailable.
Okay, consider myself beclowned then. So how did economists define all of the previous recessions on record? I know that ‘a recession’ is not a scientific measurement, it is a conventional definition.
But don’t you find it odd that the administration wants to jettison the conventional definition when it applies to the economy under their leadership? Right before the midterms, no less?