The media was filled with stories this week about the 2 month recession in the spring of 2020. What a joke. One or two down months do not make a recession; that is clear. We need at least two quarters of economic contraction before a recession can be called. The magnitude of a one or two month contraction doesn't matter. The must be a six month period of contraction at a minimum.
So why the rush to change the definition and call a two month contraction a "recession?" Isn't it obvious? Those two months were during the Trump years. Now the media can talk about how Trump brought us a recession. That will play well once the Biden recession starts next quarter. Biden won't be breaking about 12 years without a recession. No, Biden will just be brought down by the terrible after effects of the recession brought in by Trump.
Why can't there be a modicum of honesty from the media?
No comments:
Post a Comment