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It's not arbitrary. It's just that, as you note, a nuanced question without a simple answer. The "two quarters" thing is just something that we tend to see with every recession. But there are a lot of other things we tend to see too: unemployment rising, consumer spending retracting, income dropping, industrial output retracting... and we didn't see any of the other factors that we've seen previously.
It would have been one of the weirdest "recessions" we've ever seen, that bucked numerous other recession indicators. . .all in favor of two quarters of negative GDP growth. How does that make any sense?
Expecting everything to be the same is silly. History rhymes, not repeats, so whatever this period could be called is hard to say. But consumer spending is down. Sorta. People are spending less now but the market now is back to "stable". There is over employment from income not raising to match inflation so it's like people got pay cuts. Industries are also rapidly declaring bankruptcy.
It's weird now. Sorta like a Frankenstein recession one that is not and is still shambling but seems to be held together by stitches and random corpses thrown together.
This period will definitely be talked about in economics because it's certainly something new that couldn't have existed before without the very global economy. Maybe it will turn more traditional or go back to normal but it's definitely not a full well and fine economy at the moment.
I absolutely agree that it's weird and it's not fine right now. All I responded to was the oft-repeated and false claim that they changed the definition of recession, and then attributed that to some conspiracy theory to silence them.
It will absolutely be talked about, but just as likely as how it was a huge win for the fed if the soft landing happens, and that appears more and more likely at this point.
I'm not saying "they changed the definition". I'm saying "too many things about the way this term is gatekept from general use are flawed, and done for political gain sometimes, the average discussion of what is happening right now being one of them". It depends on the context whether a more academic definition standard should be expected, and even then it's not as straightforward as whoever is trying to shut down its use likes to pretend, and so perhaps a less-important hill to die on than whatever discussion is happening at that point in time."
Funny that after making up an claim that people are serving you shit while claiming it's a delicacy, you would turn around and claim you aren't saying they changed the definition after almost explicitly doing so.
For all your whining about nuance, you sure love to take the most reductionist (straw-manned) interpretation of things and come out of the gate swinging with insults. Excuse me while I use this to justify dismissing your pedantry.
This is a whole lot of empty nothing. Most people when thoroughly beaten slink off. A select noble few admit they are wrong. Less intelligent avoid an actual debate by doing stupid shit. A good example is throwing out big-ish words they don't understand.