Our economy has had a large number of expansions and contractions. With that being the case, we still put way more weight on the contractions than we do the expansions. This is simply not logical. We think that the idea of a recession is the worst thing ever, but when you realize that there have been over 30 since 1850, in the United States, you find that our economy does not just grow consistently. From time to time, we contract a bit, but our economy has been quite resilient to previous downturns. Today, we will discuss:
1. How to define a recession
2. Expansions in the United States
3. Recession indicators
4. U.S. recessions since 1929
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