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Transcript
00:00The president said that he does not believe we're in a recession.
00:03Should the American people prepare for a recession?
00:05No.
00:06And that is sort of a half-truth, because on one hand, the president is technically right
00:10that a recession means more than just a negative GDP.
00:13It should also look at the jobs market, which for last month in the month of September was amazing,
00:18because the economy added 263,000 jobs, putting the unemployment rate at a 50-year low,
00:26which is undeniably amazing.
00:27On the other hand, though, a recession has always been defined as two negative quarter
00:33GDPs back-to-back.
00:34And if you remember earlier this year, the White House put out a press release right before
00:39that second quarter GDP announcement that a recession isn't two negative GDPs back-to-back.
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