I've seen a couple of people say, on CB, today that we are already in a recession or have been in one for a few months.

Aug 2, 2024
8:59:12am

Tokolosh Stop the Stupid party member

The metrics traditionally used to define a recession disagree with saying we are in one but I did come across this article that shows the perception of a recession is prevalent.

CNBC

Is the U.S. in a recession? Roughly 3 in 5 Americans think so, report finds

As more households stretch to cover price increases and higher interest rates, most Americans falsely think the U.S. is in recession, report shows.

https://www.cnbc.com/2024/07/23/is-the-us-in-a-recession-about-3-in-5-americans-think-so-report-finds.html

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Tokolosh

Bio page: Tokolosh
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Last login: Sep 9, 2024
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Time

I've seen a couple of people say, on CB, today that we are already in a recession or have been in one for a few months.

Tokolosh Stop the Stupid party member

Aug 2, 8:59am

Of course we are

JupiterJones

Aug 2, 8:59am

By what metric?

Tokolosh

Aug 2, 9:01am

Vibes are generally how we measure economic performance

vagabonder

Aug 2, 9:17am

Here's a few

rad dawg

Aug 2, 9:21am

This is the reason why. Traditionally recession has been triggered by GDP growth numbers that are adjusted

CSoul

Aug 2, 9:02am

I can get behind that. GDP growth is largely driven by price increase, not by increased economic activity?

Tokolosh

Aug 2, 9:05am

Yup, and consumer goods and housing in particular have seen a big price increase so it's not a surprise

CSoul

Aug 2, 9:08am

I think this is mostly because many people don’t understand economics or the

Japan Coug

Aug 2, 9:35am

It's ok, if we are in a recession, we'll just change the definition again.

TheNerd

Aug 2, 10:09am

^^This^^

Is the U.S. in a recession? Roughly 3 in 5 Americans think so, report finds

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