My paycheck has not increased in size relative to increase of prices of necessities. Every dollar going to necessities is a dollar that can't go to discretionary spending.
Lower discretionary spending for a long enough time means growth slows. The prices traders are willing to buy stocks is a function of a company's future growth prospects. Slowing growth rates makes for a recession.
Too many politicos define "strong economy" in terms of unemployment rates because they're simple scalar values. Full employment with high prices doesn't make for an environment where anyone can eke out margins.
Appeal to authority is a weak argument. We are trying to use reason to figure out what's going on, not close the discussion by saying that we are not the entity that gets to decide such things.
Everyone knows no country besides the US has ever experienced a recession, since the NBER didn't declare it. And even for the US, they've only happened since the establishment of the NBER, since they weren't around to declare recessions before they existed and thus there were by definition no recessions. We should just abolish the NBER and thus ensure there will never be another recession.
NBER has declared that the definition of a recession is when NBER has declared a recession. NBER has declared that disagreements with that definition are clearly invalid, since NBER is the source of the official NBER definition of recession.
Lower discretionary spending for a long enough time means growth slows. The prices traders are willing to buy stocks is a function of a company's future growth prospects. Slowing growth rates makes for a recession.
Too many politicos define "strong economy" in terms of unemployment rates because they're simple scalar values. Full employment with high prices doesn't make for an environment where anyone can eke out margins.