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by algoatecorn 999 days ago
They aren't "kafkaesque political redefinitions". You are just choosing to use an overly simple definition because it supports your argument. The NBER determines recession based on a sophisticated methodology. One that considers the holistic status of the economy. This whole "two quarters of negative growth" is unga bunga economics
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So then it's not a recession solely according to NBER - and this departs from their characterizations for the last 60 years before this last election cycle.

"A recession is a significant, widespread, and prolonged downturn in economic activity. A common rule of thumb is that two consecutive quarters of negative gross domestic product (GDP) growth mean recession, although more complex formulas are also used."

- [investopedia]("https://www.investopedia.com/terms/r/recession.asp#:~:text=W....")