We don't have true recessions anymore.

[barking_iguana]

There is a clear distinction between the first eight recoveries on the one hand and this and the previous two on the other.

Through 1981, we had temporary recessions from which we fairly quickly bounced back to the level we had been at.

Since 1990, we have not had recessions in that sense. We have had shrinkage, where we establish a new, lower base and have normal growth from there.