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by algoatecorn
999 days ago
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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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"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....")