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LSDefine

Simple English definitions for legal terms

recession

Read a random definition: writ of protection

A quick definition of recession:

Recession: A time when the economy slows down a lot, people lose their jobs, and everyone spends less money. It's like when the whole country takes a break from buying and selling things. It's not as bad as a depression, but it can still be tough for a lot of people.

A more thorough explanation:

A recession is a time when the economy slows down. This means that there are fewer jobs available, people spend less money, and businesses invest less. It is a difficult time for many people and can last for a long time.

For example, during the recession of 2008, many people lost their jobs and homes. Companies stopped hiring and started laying off workers. People had less money to spend, so they cut back on things like eating out and buying new clothes.

Another example is the recession that happened in the early 2000s after the dot-com bubble burst. Many tech companies went bankrupt, and people lost their jobs. This led to a decrease in consumer spending and a slowdown in the economy.

These examples show how a recession can have a big impact on people's lives. It can be a difficult time, but eventually, the economy will recover and things will get better.

receptus | recessus maris

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[] baddestbunny
15:57
waspy I'm dying over here
[] baddestbunny
15:57
they got me on the phones
15:58
put yo pussy on tha phone
you became a slave so others could live free
15:58
im tryna hear sumn
not so limp anymore are we
[] baddestbunny
15:58
nah they got all my friends on the phones too
[] baddestbunny
15:59
nobody important is free
[] baddestbunny
15:59
in 1 minute I'll be on my twelfth hour of work today
Dkk
16:00
I will apply to Yale if it helps the cause.
damn that is a lot of hours
do you get off at 7pm?
Dkk
16:01
@TheAdoptedOne: he gave up too easily.
[] baddestbunny
16:01
8!
Mr. Bad Fumbla
Bag
Dkk
16:01
Commits to kys when I commit to kms the same day. What a crazy november 5th.
[] baddestbunny
16:02
kms isn't even a t50 you should r&r
does anyone ever think about how we have no idea who everyone else here is? like you guys dont know me at all thats so crazy cause i talked to you more than ppl irl today
i'm a hallucination
the hat man
HopefullyInLawSchool
16:03
isnt r&r a t50?
keep popping benadryls and ill stay online
law school chat roulette
[] baddestbunny
16:04
living out the plot of the movie unfriended in the yale invite-only webinar
You were only invited to round out the numbers anyway lol
Dkk
16:05
I'm too old to r&r, just gunna kms rn.
Dkk
16:05
Gotta get this show on the road.
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