It won't be a recession unless there is a contraction in jobs, the level of jobs are falling. Same goes for income, sales and output. So that's, broadly speaking, what a recession is. That's the target. The wesley mitchell had named his book, where he outlined this, the business cycle, the problem and its setting. And so that's the pool we're swimming in, ok? We're trying to figure out what's going on inside of that environment.
MacroVoices Erik Townsend and Patrick Ceresna welcome ECRI co-founder Lakshman Achuthan to the show to discuss the technical definition of recession, why we’re already in one, and why Lak says there more risk to the downside than to the upside for equities. https://bit.ly/3AzFbTe
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