What is a Recession?

The video uses a playground analogy to explain what a recession is, comparing it to a decrease in economic activity. It discusses how recessions occur when people spend less, leading to a cycle of reduced demand and job losses. Factors like inflation and global events can also affect spending. The importance of having savings as a safety net during recessions is emphasized. Finally, it explains that recessions end when spending resumes and jobs are filled, though the duration is uncertain.

What new insight or understanding did you gain from this video?