We’re in a recession!

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I don’t think so.

Yes we are; GDP fell two straight quarters.

That doesn’t mean we’re in a recession

Yes, it does.

OK, let’s say it does. Why should I care if we are in a recession?

Recessions are bad.

Why are they bad?

Because lots of people lose their jobs.

But lots of people are getting jobs right now; we have one of the strongest labor markets ever. So why are recessions bad?

Everyone knows recessions are bad, that’s why they’re called recessions.

Yes, but why are they bad? What’s the big problem?

Well, productivity has recently declined.

Does productivity usually decline in recessions?

No, but it did this time.

But that’s just a coincidence, as you yourself have just admitted. So why are recessions bad?

We have high inflation.

Is inflation usually high during recessions?

No, but it is this time.

But that’s just a coincidence, as you yourself have just admitted. So why are recessions bad? I need an answer.

You just don’t want to admit that we are in a recession!

Sigh . . .

PS. Perhaps were are experiencing a banana.

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