In this episode, I look at four common misunderstandings about recessions—like the myth that two negative GDP quarters automatically mean a recession. Many believe stock market crashes define recessions or that everyone suffers equally, but the reality is more complex. I also explain how recessions are officially determined and why the media fuels confusion.
Also in this episode:
- The 1987 Stock Market Crash – Despite a massive one-day market drop, the U.S. economy avoided a recession. I break down the key indicators that kept it afloat.
- The 1998 Asian Financial Crisis – A severe crisis in Southeast Asia shook global markets, but the U.S. and Canada remained resilient. Here’s how they avoided recession.
- The 2011 Debt Ceiling Crisis – A credit rating downgrade and market volatility made it feel like a recession, but economic data told a different story.
- The 2001 Recession – The dot-com bubble burst and 9/11 shocks led to a short recession—despite only one quarter of negative GDP growth.
This content was originally posted on the Beavis Wealth YouTube Channel