What Is a Recession?

The textbook case of a recession is two consecutive quarters of negative growth. The problem with textbook cases is they belong in the textbook and it can sometimes differ between the real world, right, John? Absolutely. I honestly believe, and this is why we wanted to do this episode today, just to talk about this stuff because we know fear and greed is what drives human emotions. We've got a news cycle, recession, it's going to happen. And we'll talk about depression and what that is as well. But I just wanted to kind of open the discussion to say, absolutely, there are textbook definitions of things.