this post was submitted on 14 Feb 2024

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submitted 2 years ago by STRIKINGdebate2@lemmy.world to c/lemmyshitpost@lemmy.world

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[+] EmperorHenry@discuss.tchncs.de 94 points 2 years ago* (last edited 2 years ago) (5 children)

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[–] superduperenigma@lemmy.world 84 points 2 years ago (3 children)

"No need to worry, citizen! We have once again successfully avoided a recession by changing how a recession is defined!"

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[–] DragonTypeWyvern@literature.cafe 26 points 2 years ago

How can it be a recession when the .01% is richer than ever before?

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[–] someacnt_@lemmy.world 2 points 2 years ago

Well, are we in a recession? Because it does not seem like it for many people, not just 1%.

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[+] EmperorHenry@discuss.tchncs.de 1 point 2 years ago* (last edited 2 years ago)

[deleted]

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[–] kautau@lemmy.world 22 points 2 years ago

What do you mean? Corporate profits are higher than they’ve ever been!

/s in case that wasn’t obvious

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[–] Pilon23@feddit.dk 12 points 2 years ago (1 child)

Planet earth's been on the verge of a recession since 4bya. Various economists have been able to predict a recession every year since the term was invented. Stay safe

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[–] superduperenigma@lemmy.world 29 points 2 years ago

Michael Burry has successfully predicted 92 of the last 3 recessions.

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[–] FeelzGoodMan420@eviltoast.org 3 points 2 years ago

I like how i said the same thing but got downvoted lol. What is the matter with this place?

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[–] PatMustard@feddit.uk 0 points 2 years ago (1 child)

Recession has a specific definition. Unless you've had however many quarters of negative growth or bad GDP or however the fuck economists define it then you're not in recession.

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[–] dangblingus@lemmy.dbzer0.com 3 points 2 years ago (1 child)

They've changed the definition of recession like 5 times in the past 3 years. We've had numerous consecutive quarters with negative GDP growth.

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[–] PatMustard@feddit.uk 3 points 2 years ago

Based on my quick search I'm assuming by "they" you mean the NBER and by "we" you mean the USA? It seems the rest of us have agreed on the definition being 2 quarters.

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