069: Definition of Recession

This week on the podcast, Jeremy looks at a historic marker and definition of recession, then compares that to how it is being defined today, conveniently at a time when the traditional way of understanding recessions would put the United States in one under the Biden Administration.

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Sources:

https://www.whitehouse.gov/cea/written-materials/2022/07/21/how-do-economists-determine-whether-the-economy-is-in-a-recession/

https://www.bea.gov/data/gdp/gross-domestic-product

https://www.bea.gov/resources/learning-center/what-to-know-gdp

https://www.bea.gov/help/glossary/gross-national-product-gnp

https://www.thebalancemoney.com/unemployment-rate-by-year-3305506

https://www.investopedia.com/ask/answers/030515/real-gdp-better-index-economic-performance-gdp.asp

https://nypost.com/2022/07/25/biden-plays-orwell-tries-to-redefine-what-recession-means/

Published on 3 years, 3 months ago

Podcast Episode Details

069: Definition of Recession