Tech Brew Ride Home (TWTR SPC) Are We In A Recession @noahpinion ?
Aug 13, 2022
Noah Smith, a Bloomberg Economics columnist and blogger, shares his insights on current economic uncertainties. He tackles the pressing question of whether we're in a recession and discusses the risks of military conflict with China. The conversation also dives into Apple's reliance on Chinese manufacturing and the implications of potential geopolitical tensions. Additionally, they critique the crypto landscape's sustainability and explore the rivalry between Google and Apple in messaging technologies. It’s a fascinating blend of economics, technology, and global affairs!
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Recession Definitions
- There are three recession definitions: NBER's declaration, two negative GDP growth quarters, and below-trend GDP.
- Currently, we might be in a recession depending on the definition used, but not a severe downturn.
Tech Sector Recession?
- Despite zero inflation and high job growth, major tech companies report weakness and layoffs.
- Tech might be experiencing a sector-specific recession.
Sector-Specific Downturn Example
- The oil industry downturn in 2015-16 didn't spread to the broader economy.
- Similarly, tech's current downturn, while concerning, doesn't look apocalyptic yet.