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by dragonwriter
1416 days ago
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> On the other hand, we just went through a once per lifetime pandemic and a once per lifetime consumer stimulus package And—relatedly—a once-in-ever declaration of a recession of less than one quarter, because of how uniquely sharp the decline in output, employment, and all the recession-relevant measures was, even though it quickly reversed direction due to stimulus and other policy responses. So it's kind of weird people today pretending that the 2-consecutive-doen-quarter thing has always been an ironclad definition of a recession. |
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