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by dahfizz
1414 days ago
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> I am worried we will get another wave of censorship about "recession conspiracy". Yup, without a doubt. Anyone talking about a recession will be an anti-biden conspiracy theorist. Then, shortly after the election, they will admit there is a recession but that they are doing a really good job combating it. |
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Examples:
https://www.nytimes.com/2022/07/29/opinion/recession-not-for...
It is true, as the Biden folks argued, that the nation’s official recession arbiter, the National Bureau of Economic Research, has yet to call one, because it relies on many more signals. Still, it sure sounded as if the Biden team was splitting hairs. (It's a recession opinion)
https://www.nytimes.com/2022/07/26/opinion/recession-gdp-eco...
But we won’t be. That’s not how recessions are defined; more important, it’s not how they should be defined. It’s possible that the people who actually decide whether we’re in a recession — more about them in a minute — will eventually declare that a recession began in the United States in the first half of this year, although that’s unlikely given other economic data. But they won’t base their decision solely on whether we’ve had two successive quarters of falling real G.D.P. (It's not a recession opinion)
https://www.nytimes.com/2022/07/25/business/biden-remarks-re...
That is true — not every recession includes two full quarters of negative growth, and in 1947 the economy shrank for two quarters without a recession declaration. But typically, two quarters of contraction lead to a recession call. (It's a recession opinion)
Stock Market Drop Accelerated as Recession Seemed More Likely
https://www.nytimes.com/2022/07/15/business/stock-market-rec...
etc.
Personally I think we're in a recession and/or facing economic headwinds due to a lot of different factors. I also don't know that it matters. If Biden came out today and said "we're in a recession" what exactly has changed? What specific actions should be taken so that we're not in a recession? Should we never be in a recession? Is that possible? If we are in a recession then why is that the case? Can anyone even point to specific actions that any organization or person has taken to cause a recession? I mean the Russian invasion of Ukraine is for sure a big deal in the global economy. Interest rates rising is a big factor. Do we point to those and say "those caused a recession"? If we do, then what do we do about it? Lower interest rates and lift sanctions on Russia so we're no in a recession?
And recession discussions are all over mainstream news and extensively covered by journalists and bloggers so I'm really confused as to why anyone who is talking about a recession would be an anti-Biden conspiracy theorist. Is the entire US public square an anti-Biden conspiracy since everyone is talking about it?