Most recessions are self-fulfilling. Outside of true exogenous disruptions (ie a pandemic or a war) recessions are largely driven by collective bad vibes creati

Most recessions are self-fulfilling. Outside of true exogenous disruptions (ie a pandemic or a war) recessions are largely driven by collective bad vibes creating a vicious cycle. In most cases, we could probably power through dips in consumer spending or specific industries shrinking or fuel prices rising but in reality the bad feelings trickle outward until they affect everyone very broadly. Then when we've had enough, things recover. Keynes called it Animal Spirits.