Today and I am not an Economist.

[wolven7]

Long, awesome day.

The best thing about someone underestimating you is surprising them with the error of their ways.

Also, if we're in a "global recession," isn't that kind of like if I shrank all of existence by a lightyear?

I mean, what's it relative to, anymore?

Comments

[drgnsyr.livejournal.com]

That was my question. Since money is just a figment of the human imagination with each denomination representing a percentage of the total economy, then if the whole globes economy goes down - doesn't that mean it really just stayed the same?

[wolven.livejournal.com]

It all seems a bit strange...

[necessary.livejournal.com]

Rescession has always been relative to where the economy itself was before. So a global rescession could either mean nowhere in the world is growing (everything is shrinking), or it could mean that on average the world is not growning, but rather shrinking, though parts might be bucking the trend.

It's not relative to anywhere else, but rather relative to a before. A rescession is a period of negative marginal change.

[wolven.livejournal.com]

So it's time-defined, rather than a strictly monetary equation, across countries. That makes a bit more sense, though the latter configuration is still the one that makes the most sense.

Thanks for the clarification.

I think perhaps different terminology might be in order... But I'm no economist.