Biden Entity Prevents Recession by Changing Definition of Word “Recession” – Investment Watch

by Chris Black

We already know that the US had a 2nd quarter GDP drop, which means we are officially in a recession.

However:


BBC:

The US economy has shrunk for the second quarter in a row, a milestone that in many countries would be considered an economic recession.

That is not the case in the US, which uses additional data to make that call.

Even if we were to accept that it is acceptable to just change definitions like this, what “additional data” would lead one to believe we are “not in a recession”?

All of the “additional data” that I can think of would make the situation look even more grim.

Whatever.





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