"R" Confirmed?

“As sure as the spring will follow the winter, prosperity and economic growth will follow recession.” – Bo Bennett

Folks worldwide have common misconceptions about the word “Recession”. Most people misinterpret the definition of a recession as two “consecutive” quarters of negative GDP growth. People also believe that recession is destructive to the economy. Thus mere talk about recession leads to anxiety, hysteria and uncertainty among the masses. Before we begin, let us get rid of these common misapprehensions:

No 1: National Bureau of Economic Research (NBER) defines the recession as “a significant decline in economic activity spread across the economy, lasting more than a few months, normally visible in real GDP, real income, employment, industrial production, and wholesale-retail sales.”

No 2: Contrary to popular opinion, a recession is good for the economy as it weeds out the un…