• GiddyGap@lemm.eeOP
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      1 year ago

      How do you feel like it’s a recession? And why do you think most people feel that way?

      Obviously, recessions don’t happen based on anecdotal information, but that doesn’t mean it can’t feel that way to some individuals.

    • maporita@unilem.org
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      1 year ago

      Unemployment is at the lowest rate for 30 years and wages are rising… that’s actually part of what’s driving inflation. Annualized growth this year is expected to hit an astonishing 6%. In July new orders for manufacturing hit their highest level in 9 months. Construction is doing well and consumer spending is way up. Nothing points even remotely to a recession.

            • iopq@lemmy.world
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              1 year ago

              That’s cherry-picking because I could just as easily say “fuel costs are down, so it’s good for the average person”

              You don’t just spend all of your income on housing. To be more accurate, you would need to track the average expenses and if they go up or down. Which is called… the CPI

      • Heresy_generator@kbin.social
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        1 year ago

        Not while the economy has been expanding for the last 4 quarters and shows no signs of contraction in this quarter or next they won’t.

    • cakeistheanswer@lemmy.dbzer0.com
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      1 year ago

      Using the stock market to measure a recession has to account for continually rising rates at which money is rented. If you can see pretty massive cases of consumer level inflation while businesses struggle, you already have a hole money is leaving.

      Watching the evergrande saga unwind over the course of years should give an idea to the extent of run time it will take to see results, especially when it is in the interest of investors to prop up value.