In Reply to: recession, posted by Bruce(OR) on October 19, 2022 at 19:31:22:
Several quarters with a reduction in GDP. Can be accurately counted.
But go back to the root cause. Free money from the government, creates inflation which creates other long term effects.
Free money came in two forms. $$ given to the needy, or was loaned to the banks at low and silly rates. Money has to have value. 4% might make sense for long term money.
Low borrowing rates, and we can all be speculators.
However, the cost of borrowing will slowly go down for the government. We would hope that someone employed by them can count. At the moment I have my doubts. We have the same problem in Canada, with a spender in chief that can not be trusted, and has proven to be so. Bon chance. Island Mike