We are in a recession?

[buystoys]

According to this article, we are.

link

The U.S. is officially experiencing an economic recession, according to a Monday statement from private non-profit research organization National Bureau of Economic Research. While many experts and economists generally define a recession as a GDP decline in back-to-back quarters, they defer to NBER to officially make the call.

[busymom]

Yup.  The rest of us already knew it, but I guess it's now "official".  

[mroped]

I’ve read an article claiming that we’ve been in a recession since February.

[WannabeWealthy]

Yep.  Which is good news.  Why?  We finally can say that we met our 10+yr gap for recessions.  2) This will be a short recession imo.  3) stocks are doing great

[PK Bucko]

a period of temporary economic decline during which trade and industrial activity are reduced, generally identified by a fall in GDP in two successive quarters.

By this definition it's not a recession. At least not yet. 

A severe correction to be sure. But more time needs to pass with continued economic decline to hit the definition of recession.

[swamp]

Jun 10, 2020 14:17:27 GMT -5 WannabeWealthy said:

Yep.  Which is good news.  Why?  We finally can say that we met our 10+yr gap for recessions.  2) This will be a short recession imo.  3) stocks are doing great

stocks are doing great, but employment isn't doing too well.    

[bean29]

I think they just pushed off the effects of the recession.  The PPP act gave businesses 8+ weeks of cash to cover payroll. To obtain full forgiveness, businesses need to maintain payroll equal to last year.  So, we will probably see layoffs later this year.  I am expecting a second round of PPP funding though - can't have that recession hit until AFTER the November Elections.

But I do think the stock market will show adverse effects from all this later this year.

[Deleted]

Actually, the stock market dropped significantly today.  I think it is going to be yoyo-ing for some time.