CNN now admits we "may" be in a recession. A recession is clearly defined as 2 consecutive quarters of economic downturn. There's no "maybe"
We are in a recession.
This page is a permanent link to the reply below and its nested replies. See all post replies »
Graylight · 51-55, F
Yeah, here's a secret... The media doesn't make up the facts. They report them.
In this case, for the critical-thinking impaired, they discussed the angle of some who believe the nation is in a recession or head toward one.
[quote]An organization called the National Bureau of Economic Research (NBER) has become the official arbiter of recessions. Founded in 1920, the NBER is a private, nonprofit, nonpartisan organization dedicated to conducting economic research. The NBER defines a recession as “a significant decline in activity spread across the economy, lasting more than a few months.” It dives deeply into the data tied to “industrial production, employment, real income, and wholesale-retail sales.” These are very broad categories. They are not tied to one or two sectors, which might be experiencing weakness at any given time. For example during a recession, we’d expect to see declining retail and business sales. This would lead to a decline in industrial production and a rise in the unemployment rate. It’s not as if the NBER confirms a recession has begun shortly after it begins. It took nearly a year for the NBER to confirm the last recession. By then, it was a forgone conclusion. A similar delay occurs when the economy begins to recover, and the NBER is tasked with calling the end of the recession.
[i]source: chrome-extension://efaidnbmnnnibpcajpcglclefindmkaj/http://www.bairdfinancialadvisor.com/prioletti_murphy/mediahandler/media/251835/April%202019%20Client%20Letter%20_%20What%20is%20a%20Recession%20R1.pdf[/i][/quote]
The world's not as black and white as you seem to think it is.
In this case, for the critical-thinking impaired, they discussed the angle of some who believe the nation is in a recession or head toward one.
[quote]An organization called the National Bureau of Economic Research (NBER) has become the official arbiter of recessions. Founded in 1920, the NBER is a private, nonprofit, nonpartisan organization dedicated to conducting economic research. The NBER defines a recession as “a significant decline in activity spread across the economy, lasting more than a few months.” It dives deeply into the data tied to “industrial production, employment, real income, and wholesale-retail sales.” These are very broad categories. They are not tied to one or two sectors, which might be experiencing weakness at any given time. For example during a recession, we’d expect to see declining retail and business sales. This would lead to a decline in industrial production and a rise in the unemployment rate. It’s not as if the NBER confirms a recession has begun shortly after it begins. It took nearly a year for the NBER to confirm the last recession. By then, it was a forgone conclusion. A similar delay occurs when the economy begins to recover, and the NBER is tasked with calling the end of the recession.
[i]source: chrome-extension://efaidnbmnnnibpcajpcglclefindmkaj/http://www.bairdfinancialadvisor.com/prioletti_murphy/mediahandler/media/251835/April%202019%20Client%20Letter%20_%20What%20is%20a%20Recession%20R1.pdf[/i][/quote]
The world's not as black and white as you seem to think it is.
