https://th-20.creator-spring.com/listing/when-they-kill-us-we-kill-the?product=369&variation=6513&size=1909 https://app.autobooks.co/pay/anthony-eugene-huggins-jr Full video @AIER https://www.youtube.com/watch?v=-_36XFNru-c We have seen the definitions of many words change over the past few years for political and ideological reasons, and some have even been lost altogether. We can now add recession to the list. https://katewand.substack.com/p/redefining-recession-the-white-house In an opinion piece for the Wall Street Journal, Phil Magness, director of research and education at the American Institute for Economic Research, aptly points out that “An economic downturn is a political problem, so the White House is playing semantics by redefining the term.” https://www.wsj.com/articles/redefining-the-r-word-recession-biden-economy-advisers-gdp-nber-semantics-poltics-gramm-rudman-hollings-11658951723 Phil writes, “Rather than tackling the underlying economic problems, the White House is playing word games. Economists have long defined a recession as “a period in which real GDP declines for at least two consecutive quarters,” to quote the popular economics textbook by Nobel laureates Paul Samuelson and William Nordhaus. This definition isn’t perfect, but it describes almost every downturn since World War II. With expectations of low or even negative growth for the first two quarters of 2022, President Biden’s Council of Economic Advisers has been trying to blunt the news by disavowing this textbook definition. It is “neither the official definition nor the way economists evaluate the state of the business cycle,” reads a post on the White House website. Treasury Secretary Janet Yellen endorsed the claim on CNBC over the weekend.” If you attempt to post your own opinion about the Whitehouse attempting to change the definition of a recession on Facebook, beware of the arbiters of reality know as Politifact, who will flag your post for misinformation, stating “No, the White House didn’t change the definition of “recession”. Phil Magness fact-checked the fact checkers on Twitter, stating: “Remember that time in 2019 when Sen. Warren made an unsubstantiated claim that we were in a manufacturing recession and @politifact rated it "half true"? Today they're giving a "false" rating to posts that challenge WH spin about definition of recession. Guess what definition of a recession Politifact used at the time to make its determination? The same one they now rate as false: two consecutive quarters.” Kate Wand explores the implications of redefining the meaning of words in a post-truth society, using Phillip Magness' essay on the White House attempt at redefining the term recession. Are we in a recession? After "transitory" inflation, will we experience a "transitory" recession in 2022? Creators: Kate Wand & Will Gervais aier.org Listen and subscribe ? Apple: https://aier.site/LiberyCuriousPodcast Spotify: https://aier.site/LibertyCuriousSpotify Audible: https://aier.site/LibertyCuriousAudible Player FM: https://aier.site/LibertyCuriousPlayerfm YouTube: https://aier.site/LibertyCuriousPlaylist More about AIER: https://aierdotorg.taplink.ws/ VERY-OPINIONATED.COM ... https://www.youtube.com/watch?v=T4GgZGV0m7Q