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Originally Posted by 77T
I’m not sure where the author got that first sentence. But even in my lifetime we’ve had 4 recessions.
According to the IMF, there have been four global recessions since World War II: 1975, 1982, 1991 and 2009.
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I think the operative term is “pre-modern” i.e. a recession not related to monetary policy. I’m not sure it’s an especially useful distinction other than to add a new dimension of hyperbole.