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."

  • 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.