Recession is a curious phenomenon, because its predicated on a changing rate of a figure that the Bureau of Labor and Statistics ultimately defines. It is very possible for the US economy to rot to its bones while the officially calculated GDP figure continues to inflate to the moon. Just keep pumping the value of fictitious capital while you people sink into individualized poverty long enough and eventually you’ll have six High Frequency Trading accounts hot-swapping the same basket of derivatives of derivatives in an upward spiral forever.
You don’t even really need a material economy, just so long as you’re willing to concede that a steadily rising Big Number is the singular purpose of the financial system.
Recession is a curious phenomenon, because its predicated on a changing rate of a figure that the Bureau of Labor and Statistics ultimately defines. It is very possible for the US economy to rot to its bones while the officially calculated GDP figure continues to inflate to the moon. Just keep pumping the value of fictitious capital while you people sink into individualized poverty long enough and eventually you’ll have six High Frequency Trading accounts hot-swapping the same basket of derivatives of derivatives in an upward spiral forever.
You don’t even really need a material economy, just so long as you’re willing to concede that a steadily rising Big Number is the singular purpose of the financial system.