funny money and disinformation

A couple of articles showed up in this morning's headlines regarding the government's efforts
to downplay recession fears. Because politics.

A traditional definition of economic recession:
Two straight quarters of economic contraction is typically viewed as a recession.

The GDP report is scheduled for release on Thursday and, following first-quarter contraction at an annual rate of 1.6%, the latest data may confirm that the economy is shrinking.

Recession and the global economy

The next recession won't be like the last recession.
Just like the old saying about generals prepare to fight the last war, this is why most people will be caught off-guard.
The last recession originated in the subprime housing market in the United States. The next recession will likely not originate in the United States at all.