Originally Posted by
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Isn't that technically Stagflation? 2 consecutive quarters of negative GDP growth with 40-year high inflation?
Maybe one can argue that the low unemployment rate nullifies that theory, but then again, the labor force participation rate is still below the 20year pre-coronavirus levels.
A5S
Sure. I can get behind that definition. My point is that some don't want to recognize this disastrous administration's culpability in what's going on right now by hiding behind a technical definition. If you have to have 2 negative GDP growth numbers and that makes you feel better then good for you. I know several people that are now living paycheck to paycheck because of what's going on. I'm sure they would feel much better thinking we aren't in a recession.