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Bard
LSU Fan
Poli Board President-Elect
Member since Oct 2008
45416 posts

Yellen: Economy might not technically be recession

Link to ridiculousness (and not the MTV show)

quote:

Appearing on NBC’s “Meet the Press,” Yellen acknowledged that many economists generally define a recession as two consecutive quarters of negative GDP growth but emphasized, “That is not the technical definition.”


Only because the NEBR changed the definition from being the simple-to-understand 2 months of negative GDP growth to "a significant decline in economic activity spread across the economy, lasting more than a few months, normally visible in real GDP, real income, employment, industrial production, and wholesale-retail sales."

It's going to be interesting to see what they try to hang their hats on to avoid saying we are in a recession.


conservativewifeymom
Mid Atlantic
Member since Oct 2012
11424 posts

She can take her 'technically' and shove it where the sun don't shine.


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teke184
LSU Fan
Zachary, LA
Member since Jan 2007
79497 posts

“Technically, you’re a goddamn idiot.” - Chief Lutz, Beverley Hills PD


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140
TexasTiger33
LSU Fan
Member since Feb 2022
2507 posts

(no message)
This post was edited on 7/25 at 6:18 pm


teke184
LSU Fan
Zachary, LA
Member since Jan 2007
79497 posts

It’s like the Monty Python routine reminding you that murder is only an extroverted suicide.


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170
FATBOY TIGER
Valhalla
Member since Jan 2016
6411 posts

Technically, she's a jew so......


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UGA fan n NC
Georgia Fan
Member since Nov 2020
313 posts

quote:

Yellen: Economy might not technically be recession

This is the same idiot that said the inflation problem was transitory ... screw her.


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110
HailToTheChiz
Auburn Fan
Back in Auburn
Member since Aug 2010
43709 posts

Did they really change the definition?


TexasTiger33
LSU Fan
Member since Feb 2022
2507 posts

(no message)
This post was edited on 7/25 at 6:10 pm


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Barneyrb
Arkansas Fan
NELA
Member since May 2016
4255 posts

How to tell when dimorats are lying, their lips move


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GetBackToWork
LSU Fan
Member since Dec 2007
5775 posts

The definition as taught in school and traditionally relied upon is two consecutive quarters of negative GDP growth. In recent history we have had times when the economy was technically positive but employment numbers were skewed and the labor market was dismal. We also have times when unemployment drops, but so has labor force participation, so the economy has pushed people out. The financial recession that accompanied the 2008 business cycle recession was abnormal, and had long lasting effects. This drove similar talk at times.

All in all there can be counter cyclical tendencies, but two consecutive quarters is reliable. Modern politics and news cycles spew negativity beyond reason, though, and politicians will also whitewash bad news. This is a time and topic for adults in the room, not BS like transitory inflation rhetoric and let’s redefine a recession.


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thelawnwranglers
LSU Fan
Member since Sep 2007
34229 posts

Look like talking points are out


They are really going to Jedi mind trick us citizens not see recession that is raging


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30
udtiger
US Space Force Fan
Over your left shoulder
Member since Nov 2006
88972 posts

Oh for frick's sake.

Now...imagine Mnuchin said that.


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FightinTigersDammit
Northwestern St. Fan
Louisiana North
Member since Mar 2006
30644 posts

Yellen may not be technically retarded, but, in reality, she is.


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BigMob
Georgia Fan
Georgia
Member since Oct 2021
3951 posts

Gone have to crash for us to get off our tails so let it crash and burn


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doubleb
LSU Fan
Baton Rouge
Member since Aug 2006
29404 posts

The same people who change the meaning of the right to keep and bear arms find changing the definition of recession child’s play.


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the808bass
SE Missouri Fan
The Lou
Member since Oct 2012
99113 posts

We’ve technically been in a recession since 2020.


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SlidellCajun
LSU Fan
Slidell la
Member since May 2019
7968 posts

What happens if Ed stop paying interest on the bonds that the fed owns?


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llfshoals
Alabama Fan
Member since Nov 2010
12680 posts

Since she’s wrong pretty much every time she says anything, looks like the recession will be rough


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TexasTiger33
LSU Fan
Member since Feb 2022
2507 posts

(no message)
This post was edited on 7/25 at 6:10 pm


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