downpunxx
froghorseIf everybody suddenly becomes poor then we call it a Depression.
If everything suddenly becomes expensive then that has the same effect.
Is that what’s going on here? Are we experiencing one of those second things? A “sneaky depression”?
ThrowawayThe Biden admin literally redefined recession. If we used the same definition, we’d be in the worst recession since 2008.
No, we wouldn’t be. A recession is two consecutive quarters of negative GDP growth. The US had exactly two in Q1 2022 and Q1 2022 before going back to positive growth. The US had a much larger recession in Q1 and Q2 2020 before a big recovery in Q3 2020.
You still care about karma?
I actually didn’t know that I’m at negative karma. Can’t find it in this app.
How does my personal summed karma score bear in lemmyland?
I don’t know either
If my point really isn’t crystal clear
The prices going up has the same effect on my power to buy stuff as everybody’s income going down.
Please retake Economics 101.