59% of Americans wrongly think the U.S. is in a recession, report finds
www.cnbc.com
Although the economy is growing, consumers remain somewhat pessimistic.

"No you see, idiot, uneducated worker, the economy is doing great actually. Now go back to the your 3rd job's shift to barely make ends meet."

  • Amerikan Pharaoh@lemmygrad.ml
    ·
    3 months ago

    A recession is a word with a specific economic definition and measurement.

    Measured by who? Predatory western sociologists-that-wish-they-were-mathematicians whose predictions hold less merit than a meteorologist's when he's three Adios Motherfuckers in? If you still take these banker-priests seriously, that's on you; but what I know is my pension definitely doesn't go as far as it used to even five years ago.

    If the economy didn't existentially suck ass in ways that resemble recession, I wouldn't have had to move in with some homies of mine, and I'd still be blissfully on my ones; but no, the economists gotta oversee an unending transfer of wealth until we're all inescapably wage-slave'd so now I gotta live like I'm in fucking college again.

    • Roopappy@lemmy.ml
      ·
      3 months ago

      Recession: A period during which economic activity, as measured by gross domestic product, declines for at least two quarters in a row.

      The first problem with what you're saying is that you think a recession is some kind of prediction. It's not. It's a measurement of the prior 2 quarters. By definition, it can only be declared for time that already passed.

      The second problem with what you're saying is that you think it is a measurement of quality of life, cost of living, or wages. It's not. By definition, it's a measurement of GDP.

      I'm not trying to say that I think the economy is good or that people feel good about it. Those are things that have words to describe them, but not the word "recession". By understanding the terminology and using the right words, we can all be on the same page and solve problems.