CNN Money has a story about America and the potential recession we’re in. A recent poll shows 79% of Americans believe we’re in a recession now. It goes on to given the correct correct definition of recession as determined by the National Bureau of Economic Research (NBER) which I highlighted in my post more than a week ago here. Hint: it is NOT two or more consecutive quarters of economic decline as commonly stated.
I wish they had asked their respondents to state the definition of a recession and compiled how many knew it. I bet it would be less than 5%.
Does it feel like a recession or just a “correction” to you? To SomeGal and me it’s the latter.
