PebHmong Discussion Forum
General Category => General Discussion => Topic started by: Hung_Low on July 25, 2022, 04:03:29 PM
-
MSM and expert says maybe NOT!!
according to Yellen a good definition for a recession is when GDP is negative for two consecutive quarter... that's how it is historically.
1st quarter was negative GDP... and many economist are predicting a negative GDP for 2nd quarter... However, the Biden admin and majority of Left leaning MSM are saying it's not even if the 2nd quarter GDP is negative. We'll see by the end of this week whether it's negative or positive. Maybe the Biden admin and MSM is waiting for the whole year of 2022 to be negative GDP before doing anything about it.
Yellen "We're not in a recession. We're in a transition where growth is slowing" - let me finish her thought here, "We are in a recession if Trump was in office."
-
Two consecutive quarters of negative GDP is a recession, but the white house recently changed the definition. I guess it's more of a feeling now than the definition that has been used by economists since forever.
-
I should add that big companies, especially big tech companies don't seem to agree based on their actions. There are tons of people getting their job offers rescinded and people are getting laid off.