The Media Redefines “Recession”
May 19th, 2008
They simply won’t allow facts and accepted definitions to get in the way of their narrative. While the U.S. economy’s growth rate is slower than we’d like, it continues to grow. By the accepted definition, even minimal growth would indicate that we’re not in a recession, which rumor has it has something to do with the word “receding” or “moving backward”.
Now the Associated Press tells us that the definition has changed, and it’s possible to be in a recession with a growth rate even above 1.5%. That would, of course, mean we’re in a recession according to their rules.
How convenient.