It seems that the AP gets to turn a plus into a minus by simply finding a source whose opinion they enjoy
The economy will perform a neat trick this year, experts predict: fall into recession without contracting. That hasn’t happened since the government began tracking quarterly growth of gross domestic product (GDP) in 1947.
“Remarkably, the economy has been able, barely, to keep its head above water despite all the negative shocks,” says Josh Feinman, DB Advisors’ chief economist.
While many believe a recession indicates a contraction in GDP, the National Bureau of Economic Research, known as the arbiter of recessions, merely looks for “a significant decline in economic activity” lasting more than a few months. It may appear in GDP, income or other measures.
Move goalposts much?
A recession has historically been called after two quarters of negative growth. Now, apparently, all it takes is a couple months of sagging positive numbers. Let us hope we never get too successful in this country, otherwise we’ll be just digging ourselves a big hole.
I guess that must be the European model
The Association of European Chambers of Commerce in Brussels warned that the transatlantic gap had widened yet further in the past five years by all key measures, despite the pledge by EU leaders at the 2000 Lisbon summit to transform Europe into the world’s “most dynamic knowledge-based economy” by the end of the decade.
The EU-wide umbrella group, known as Eurochambres said the EU’s overall employment rate was still stuck at levels attained by the United States in 1978, chiefly due to an incentive structure that discourages women from working and prompts early retirement by those in their fifties.
It found that the European Union’s research and development levels were achieved by America as long ago as 1979, while the lag time on per capita income is 18 years.
“It will take the EU until 2072 to reach US levels of income per capita, and then only if the EU income growth exceeds that of the US by 0.5pc,” the study said.
The EU economy, in very reasonable standards, is anywhere from 30 to 64 years behind that of the US.
Yet ours is called weak and the media’s denial of manipulation in the monetary markets is so loud that you’d think some of them were agencies of foreign governments or something.
Oh wait.
Sometimes, you just have to get off the bus and look at the front to see where it’s supposed to be going.
“What recession?” is wearing a bit thin, especially since the goalposts have been moved years ago.
RD, “gas is expensive and we’re all gonna die” wears even thinner. Yes, I understand that it effects everything else, but unless you’re hoarding it at this “low” price, the prophecies of doom are useless.
Anyone who would be prepared for a fall out already is.