On Thursday morning, MSNBC economic analyst Steven Ratner painted a dark picture of what he expects will happen if Donald Trump win's re-election in less the two weeks.Standing before a big display that blared "Trump's Plan Will Crater Economy," the investment analyst claimed voters could find thems...
When the Biden admin had to change the definition of recession to avoid admitting were in a recession, we’re probabtin a recession.
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
That shit was 2 years ago. Go look at the GDP numbers now.
GDP doesn’t measure how well an economy is working. It doesn’t show you wealth inequality, for example.
So now you, like Biden, don’t want GDP to define a recession?
Se need something that considers wealth distribution
I’m replying to a thread about Biden arguing that GDP shouldn’t be the only indicator of economic health, but if we’re dogmatically looking at GPD, GDP is not in a classic “recession” territory.