

More Than Half Still Say U.S. Is in Recession or Depression - chailatte
http://www.gallup.com/poll/147299/Half-Say-Recession-Depression.aspx

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orijing
Perhaps that suggests that we need to redefine what we mean by "Recession",
which officially is two consecutive quarters of economic contractions. (Or as
the Romers say, "When I say so")

Because the truth is, "recession" appears to mean very different things to
ordinary people than to economists. Maybe we (economists) should refer to
contractions as _contractions_ , rather than recessions, and use the term
recessions to refer to economic performance below some measure of potential
production.

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sixtofour
"Perhaps that suggests that we need to redefine what we mean by "Recession",
which officially is two consecutive quarters of economic contractions."

For the 10%, or 20% (however it's counted), they are experiencing two or more
quarters of economic contractions.

The two economies of corporate profits and individual well being are
disconnected.

~~~
sixtofour
Too late to edit, left out a crucial word:

For the 10%, or 20% (however it's counted) _unemployed_ , ...

