"Recession is a somewhat loose term"I agree with you, it's an...

"Recession is a somewhat loose term"

I agree with you, it's an extremely loose term but it saves going into details about the labour market, company earnings, inflation, QE or QT, China slowdown, the POO, Dr Copper, supply chain issues, Covid, GDP of various countries, global defaults, asset depreciation, property market collapse, debt, increased interest payments household, business and government, etc, etc

.....and when it's reported as a recession it's already happened and had been building for quite some time! Right now the threat of many severe interest rate hikes is hopefully going to have more impact on consumer spending than the delivery of them.

Recession takes everything down the plug hole with it