We’re Not in a Recession — We’re Just Transitioning to a Sheconomy
Merriam-Webster defines a recession as “a period of reduced economic activity.”
In December 2000, lame-duck President Bill Clinton said, “A recession is two quarters in a row of negative growth.”
On Thursday, the Commerce Department’s Bureau of Economic Analysis revealed that the nation’s GDP fell 0.9% in the second quarter after falling 1.6% in the first quarter.
So two subsequent economic quarterly contractions, coupled with the highest inflation in 40 years, means we’re in a recession, right? (more…)