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77 - Recession? Biden, & The Post-Bernie Left w/ Matt Christman

Left Reckoning

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Is This the Definition of a Recession?

The official designation of a recession is done in this country by an organization called the n b er, the national bureau of economic research. They look ate real personal income on its transfer payments, non farm payom pay rolls, employment as gauged by the bureau of labor statistics and household survey. There have been recessions where we actually haven't had two contractions in g d p subsequently. But yes, typically, that is a sign. And i don't even mean to malign the folks there, because a lot of them are very serious economists, smart folks, m who are doing, you no, detailed analysis of the economy.

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