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We are in a recession, no doubt?!

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xuanling11
@xuanling11
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Are we in a recession? Well, it depends on who you are talking to.

https://twitter.com/countdraghula/status/1552862669300191234

The traditional view is when there are two consecutive quarters of decline in a country's real gross domestic product is commonly used as a practical definition of a recession.

https://twitter.com/TickerHistory/status/1553059921758928899

https://twitter.com/bennyjohnson/status/1553023819870257152

But, the definition of a recession has started changing.

https://twitter.com/molly0xFFF/status/1552841045729316864

Nowadays, we cannot agree on the definition anymore. Everything is open and up to debate.

https://twitter.com/100trillionUSD/status/1552972616461422593

All indicators show that we are heading or have already in a recession.

https://twitter.com/LanceRoberts/status/1552984766718349313

From the government bailout companies to not allowing a recession anymore in the economy, where are we heading if there is no clear guidance on the economy from the government?

https://twitter.com/PeterSchiff/status/1553047224057208835

So, we are technically in a recession, but we are not in a recession.

https://twitter.com/RNCResearch/status/1553016056607817728

And we are heading into an even worse economic cycle:

https://twitter.com/countdraghula/status/1552862669300191234

But that is okay, and we can redefine everything from now on.

https://twitter.com/ScienceWDrDoug/status/1553075672347811845

Here is the question about a recession, is a recession man-made or a natural process?

https://twitter.com/WallStreetSilv/status/1552966353346240512

If a recession is caused by humans and is a man-made event, the government has the right to change the definition. Since the government has been created collectively to represent the majority of the people in the nation, they have a right as a creator of the collective force to change the definition of the recession.

https://twitter.com/SubToOptimus/status/1553024480657670150

What if a recession is a part of nature?

https://twitter.com/alexchristy17/status/1553001651904061440

Then refusing a recession is a violation of natural law.

https://twitter.com/MAAinthesun/status/1552671260873818115

I think a recession is man-made, and it is okay for the government to change the definition if they want to. They have to convince citizens that the change is acceptable.

So, we are in a recession according to the traditional definition, but we may not yet be in the recession if the broader definition claims "a significant decline in economic activity that is spread across the economy and that lasts more than a few months."

https://www.npr.org/2022/07/28/1113649843/gdp-2q-economy-2022-recession-two-quarters

At the end of the day, it becomes a political debate that does not affect people's daily lives.

https://twitter.com/WallStreetSilv/status/1553062802004353027

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Photo by Annie Spratt on Unsplash

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