Prosperity / recession

Prosperity is when people buy things they can't afford; recession is when they stop doing it.

quote by H. Martz

Recession wisdom - 1933

Surely the ability to get laughter out of trivial things, under miserable conditions, is not an entirely worthless result of the depression.
I have little hope of getting started again in my former business,
so I can have the thrill of planning my future all over again.

Quote by Gordon Byron, December 1933

Predicting the economic downturn

These economic downturns are very difficult to predict,
but sophisticated econometric modeling houses like Data Resources and Chase Econometrics have successfully predicted 14 of the last 3 recessions

Recession or depression ?

It's a recession when your neighbor loses his job
it's a depression when you lose yours.

quote by Harry Truman