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[deleted] t1_j8dkyv7 wrote

Reply to comment by alc4pwned in Motherboard Shipments Plummet by Ten Million Units in 2022 by Avieshek

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alc4pwned t1_j8dlg8s wrote

The accepted defition of a recession is pretty clear. We have not seen two consecutive quarters of GDP decline, so it's not a recession.

And while the layoffs are concerning, the economy added 500k net jobs in January. We may well be in a recession soon, but we're really not right now.

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Imkindaalrightiguess t1_j8dper9 wrote

Because it's just price gouging bullshit. We've experienced gdp growth while getting robbed.

The avian flu was used as a cover to double the price of eggs.

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plummbob t1_j8fqs0l wrote

Price gouging would indicate the economy is not in recession

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[deleted] t1_j8g368f wrote

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plummbob t1_j8g3e0e wrote

A fall in demand would mean that firms would loose money by raising prices

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[deleted] t1_j8g60az wrote

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plummbob t1_j8g69hi wrote

Same demand + reduced short term supply = higher prices

If there was a looming recession, we would expect a fall in demand

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alc4pwned t1_j8dsued wrote

I think you’ve got a really really long way to go from the egg situation to making the case that GDP growth as a whole is solely the result of price gouging lol

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Imkindaalrightiguess t1_j8e3gi2 wrote

Death by a thousand cuts, not slippery slope.

I'm saying every industry is finding new ways to squeeze their user base.

Attempting infinite growth is a function of capitalism. If you have no market to grow into you wring out what you can from existing customers.

Have you not noticed the rise in cost of necessities, fast food, and housing against stagnant wages?

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alc4pwned t1_j8e4mwn wrote

Sure. But pointing out that price gouging exists does not make the case that current GDP growth is the result of price gouging. That’s what I’m saying.

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Informal-Soil9475 t1_j8dpofy wrote

Recessions are really declared after they happen. And even so, the official statistics that determine a recession dont really help quantify the state of the economy.

Price gouging for example is not even a factor.

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Puzzled_Plate_3464 t1_j8dq760 wrote

> because the execs are panicked about the outlook of the next few years.

yea old self fulfilling prophecy.

so your execs are world class economists in addition to being lawyers?

or they are a bunch of scared old guys who want to protect their share of the firm, so they can keep on buying their houses and cars and watches?

Ask them why they are laying off and freezing hiring before the event occurs? Isn't that sort of assuring they'll lose business, have less revenue, make less money right now (ummm, tell me again, how do we get into a recession - oh yeah, by shrinking). They can always lay off when it actually happens (cause they don't care about people - just $$$$)

I put zero confidence into the ability of your execs to be economists (I give only a little more to actual economists). However, it is that blind groupthink that will become a self fulfilling prophecy and get us there.

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GSPilot t1_j8dnbpt wrote

It’s almost as if people worrying about and preparing as if a recession is imminent, are causing the prophecy to become reality.

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