A recession is not about gas prices or the cost of corn. Recessions do not pop up overnight, and their greatest effect is not a dip in the gross national product or the per capita income.
Consumer spending droops, causing corporate spending to drop as the think tanks go into survival mode. Governments cut interest rates to encourage spending but ultimately this puts more money into circulation and causes inflation, simultaneously devaluing the currency and slowing the rate at which savings accrue interest. Days get shorter, working parents get more tired, and politicians lose approval ratings.
Posted by C A Warner 