What exactly defines a recession?
My brother in Christ you’re telling me it’s not even a recession yet here in the US? 😭 We’re so fucked
The US is actually in a recovery from the covid recession. What this means is: increased velocity of money due to higher profit margins, causing inflation. Wage increases for the labour aristocracy, and further exploitation of the rest of the working class.
Every recovery from recession brings a further concentration of capital.
The words recession or economic boom means very little to the working class.
Not gonna lie, I always get a bit happy seeing the words “UK” and “Recession” together, since they will never admit to it. But I also like the implication that the world could end through nuclear war and India’s economy would still have a 100% chance of being fine.
“Probabilities”
Ah yes, because recessions are like a slot machine, you never know when they’ll pay out, but you just need to keep cranking that lever until you hit the jackpot.
The image shows data from April.
In may Germany entered Recession: https://www.reuters.com/markets/europe/germany-enters-recession-2023-05-25/
While the G7/EU other countries may have mostly technically avoided recession, they have only done so barely so far.
I fully expect that all Europe will be deep in recession by the end of the year.
