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Post subject: Re: Does anyone care about the economy?
Posted: Wed June 29, 2022 12:02 pm
See you in another life, brother
Joined: Thu December 20, 2012 4:45 pm Posts: 6652
Problem: too many dollars chasing too few goods
Solution: more dollars
_________________ "I want to see the whole picture--as nearly as I can. I don't want to put on the blinders of 'good and bad,' and limit my vision."-- In Dubious Battle
Post subject: Re: Does anyone care about the economy?
Posted: Mon July 25, 2022 1:04 pm
Looks Like a Cat
Joined: Wed April 20, 2016 7:11 pm Posts: 14257
_________________ "The fatal flaw of all revolutionaries is that they know how to tear things down but don't have a f**king clue about how to build anything."
Post subject: Re: Does anyone care about the economy?
Posted: Mon July 25, 2022 2:19 pm
See you in another life, brother
Joined: Thu December 20, 2012 4:45 pm Posts: 6652
Bi_3 wrote:
I mean that's not new, nor is it a redefinition. Two quarters of negative GDP growth *isn't* a recession even though that seems to be the shorthand people use.
Q1 GDP only fell 1.5% and consumption and investment both increased. The decline in GDP was because of an increase in imports and a decrease in government spending. Unemployment is 3.6% and there's a massive labor shortage. I'm not sure what this economy is, but it's not an open and shut case that it's currently a recession. I think we'll get a Fed-driven disinflation recession soon enough, but I don't think it's crazy to suggest that this isn't a recession.
_________________ "I want to see the whole picture--as nearly as I can. I don't want to put on the blinders of 'good and bad,' and limit my vision."-- In Dubious Battle
Post subject: Re: Does anyone care about the economy?
Posted: Mon July 25, 2022 2:37 pm
Looks Like a Cat
Joined: Wed April 20, 2016 7:11 pm Posts: 14257
4/5 wrote:
Bi_3 wrote:
I mean that's not new, nor is it a redefinition. Two quarters of negative GDP growth *isn't* a recession even though that seems to be the shorthand people use.
Q1 GDP only fell 1.5% and consumption and investment both increased. The decline in GDP was because of an increase in imports and a decrease in government spending. Unemployment is 3.6% and there's a massive labor shortage. I'm not sure what this economy is, but it's not an open and shut case that it's currently a recession. I think we'll get a Fed-driven disinflation recession soon enough, but I don't think it's crazy to suggest that this isn't a recession.
Obviously you are right on both accounts. It's not the technical definition, but it is the common parlance, how the majority of people would define it, and the very act of making that distinction is gonna give the "depends on what the definition of 'is' is" vibe.
_________________ "The fatal flaw of all revolutionaries is that they know how to tear things down but don't have a f**king clue about how to build anything."
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