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The U.S. economy is on the verge of dealing with its tenth recession since World War II. "The economic data coming in are some of the first post-September 11 readings, and they reflect the initial shock on consumer and business activity. The numbers prove that households and companies did exactly as expected when a crisis hits: They froze (Madigan 48)." However, consumers fail to realize that our economy is subject to a periodic, but irregular up and down phenomena known as the business cycle. Despite alarming data, this recession could be mild according to precedents set in the past.
A basic definition of a recession is a decrease in Real GDP that lasts for at least two quarters or six months. Over its 146-year history, the United States has endured recession for approximately one third of the time. For that reason, economic analysts are far too familiar with the conditions that initiate a recession.
There are many signs that point toward a future recession. Through......

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Approximate Word Count: 860
Approximate Pages: 4 (250 words per double-spaced page)

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