RE: Can you say Recession?
The official definition of a recession is two consecutive quarters of negative GDP growth. We shall see....
In practice, the definition seems to be “Recession is the economy under any “R” labeled politician, and economic growth and prosperity is the economy under and “D” labeled politician no matter what.”
That will be redefined so fast your head will spin.
“The official definition of a recession is two consecutive quarters of negative GDP growth. We shall see....”
Wrong! The media definition is two consecutive quarters with a republican in the white house regardless of what the economy is doing
The official definition of a recession is two consecutive quarters of negative GDP growth.
If you subtract Government Deficit Spending you will find 30 YEARS worth of Negative Growth, NOT ONE SINGLE QUARTER IS POSITIVE all the way to 1986
If you look at the growth rate during the Great Depression you would see that they are MUCH BETTER than those of today. There where years that exceeded 10% growth. We have not had GDP above 3% annual growth in over a decade. We have averaged less than 1.5% growth since Obama took office. Never exceeding the 2.5% in any one year.
This is what a modern day Stagflation Depression looks like. Get used to it unless a strong pro growth reformer becomes POTUS.