drays917 wrote:I'm not going to argue with how crappy or not-crappy the legal job market is. People can make decisions for themselves. I do, however, take issue with the complete lack of economics knowledge going on in this thread.robotclubmember wrote:
But the gov't only wants to use "core" inflation in its statistics.
Yes. Measuring wildly volatile data and trying to derive some sort of meaningful overall trend from them is a waste of time. If otherwise relatively static prices increase significantly, then there's probably something to it. Also, complaining that the government is trying to sugarcoat things by suggesting deflation is just around the corner either doesn't understand what sugar-coating or what deflation is.robotclubmember wrote:
THANK YOU. Exactly what I was saying before. The people who write the rules on what a recovery is and then insiting we are in one is as honest as the ABA writing the rules for employment reporting and then schools boasting 99% employment. It's a farce.
Just because the gov't spoon fed you one definition, that happens to be neatly included in your USA-indoctrination books I mean textbooks, doesn't mean it's the best or only definition. I think the gov'ts definitions are arbitrary and misleading. Just look at the economic indicators, to call this a recovery doesn't mean it's a recovery, it means we have a very playful and amusing definition of recovery.
A recession is defined as the period of time in which the economy is contracting.
Again, many organizations have different definitions of a recession. Saying "A recession is defined as..." is already a false statement. Anyone can pull from the numerous definitions out there, the end.