The Trump administration's dismissal of economic experts and advisory committees is a dangerous move that could lead to a recession. Can we afford to ignore the warning signs and let politics dictate our economic future?
I posted elsewhere, but I think the real issue is that it really didn’t look like a recession. While technically it was a recession by the two negative quarters definition, if you look at real GDP it’s barely a blip.
I suspect at the time the concern was that calling it a recession would have impacted the recovery. Not that I think that’s a good excuse, but they werent hiding the data. With Trump, he’s trying to hide the downturn rather than trying to rally the recovery.
Calling out Biden here is a very “both sides” centrist kinda mindset.
The circled area is the blip that your source is referring to. The giant drop before it is from during Trump’s first term.
Everyone thought we were going to hit a recessesion that would be a big issue. As you can see it was fixed extremely quickly. The wall street journal leans right and was using it as propaganda to promote Republican efforts.
Yeah really our productivity in those terms just dropped to 2016 levels.
Now if you compare to Argentina’s struggles. People can see why there were so many people trying to get out of there. They weren’t criminals being sent out of their prisons, they were people fleeing a giant recession that left them starving.
I posted elsewhere, but I think the real issue is that it really didn’t look like a recession. While technically it was a recession by the two negative quarters definition, if you look at real GDP it’s barely a blip.
I suspect at the time the concern was that calling it a recession would have impacted the recovery. Not that I think that’s a good excuse, but they werent hiding the data. With Trump, he’s trying to hide the downturn rather than trying to rally the recovery.
Calling out Biden here is a very “both sides” centrist kinda mindset.
The circled area is the blip that your source is referring to. The giant drop before it is from during Trump’s first term. Everyone thought we were going to hit a recessesion that would be a big issue. As you can see it was fixed extremely quickly. The wall street journal leans right and was using it as propaganda to promote Republican efforts.
Thanks for adding the additional context!
What’s funny is the covid drop isn’t even that bad either compared to some other recession. So the 2022 blip is really inconsequential.
Yeah really our productivity in those terms just dropped to 2016 levels.
Now if you compare to Argentina’s struggles. People can see why there were so many people trying to get out of there. They weren’t criminals being sent out of their prisons, they were people fleeing a giant recession that left them starving.