“Recession” is a relative concept. For instance, when the U.S. economy contracts such that Americans merely tighten their belts, hundreds of millions around the world face starvation.
If you doubt this, consider the global implications of the U.S. mindlessly going into lockdown mode in 2020. Not only was economic contraction as a virus mitigation strategy completely bonkers, the World Food Programme estimated at the time that 285 million in the world’s poorest parts were rapidly heading toward starvation.
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