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.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/