BizSugar.com › Finance › 5 tips to prepare yourself for the new recession

It’s been eight years since the 2008 recession.

I believe we are in a massive recession right now but the media can’t call it that because by definition we aren’t there yet. A recession is defined as a period of temporary economic decline during which trade and industrial activity are reduced, generally identified by a fall in GDP in two straight quarters. By the time the media calls it a recession it’s already too late – it will be after the fact and you have already been affected.