Row 56986

Row ID: 56986 | Dataset Entry | Axioma AXP Content Repository

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The article quotes a “technical recession” as the definition of a recession. A recession is called by the NBER and it does not do so on a forward-looking basis, it does so on a backward-looking basis.

If you look at what indicators the NBER looks at, many of those signals are warning about recession and things like the McKelvey rule that Danielle DiMartino Booth has been mentioning signals the US is currently in recession.

So rather than Americans falsely thinking the US is in recession, it’s likely those people who are likely to be poorer and negatively affected by the cost of goods know something the rich people haven’t yet figured out. We will see if the NBER confirms if the 56% of people were right.

You can't convince someone who can't get a job or a job that can pay all of their bills that the economy is fine because for them it isn't.

FieldValue
text The article quotes a “technical recession” as the definition of a recession. A recession is called by the NBER and it does not do so on a forward-looking basis, it does so on a backward-looking basis. If you look at what indicators the NBER looks at, many of those signals are warning about recession and things like the McKelvey rule that Danielle DiMartino Booth has been mentioning signals the US is currently in recession. So rather than Americans falsely thinking the US is in recession, it’s …
label r/economics
dataType comment
communityName r/Economics
datetime 2024-05-23
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Raw Record

{
  "text": "The article quotes a “technical recession” as the definition of a recession. A recession is called by the NBER and it does not do so on a forward-looking basis, it does so on a backward-looking basis.\n\nIf you look at what indicators the NBER looks at, many of those signals are warning about recession and things like the McKelvey rule that Danielle DiMartino Booth has been mentioning signals the US is currently in recession.\n\nSo rather than Americans falsely thinking the US is in recession, it’s likely those people who are likely to be poorer and negatively affected by the cost of goods know something the rich people haven’t yet figured out. We will see if the \nNBER confirms if the 56% of people were right. \n\nYou can't convince someone who can't get a job or a job that can pay all of their bills that the economy is fine because for them it isn't.",
  "label": "r/economics",
  "dataType": "comment",
  "communityName": "r/Economics",
  "datetime": "2024-05-23",
  "username_encoded": "Z0FBQUFBQm5Lak1Xa2pQM0FwR1lhd2M4T0R2amQzMTVESnpsLXBvcTdCWEVNQVVsOC0zdWNudlAyWGtwa0laR0Iwb1lZR3d1SFZ1RXJJUnVMdGcyYmxrLUc3d1hGSmkzSnc9PQ==",
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