|Boom & Bust|
A bear and a bull are shown cheek to jowl in this cartoon depicting the legendary relation between market downturns when scarcity dominates symbolized by the bear and the bright up turns in the markets symbolized by the bull. The bear stands for a bust and the bull stands for the boom.
A boom is the accelerating part of an economic cycle and the bust is the collapse or decelerating part of that cycle. Busts have been referred to historically as, panics, bubbles, recessions, and depressions. These terms are frequently used to economic down-turns in market activity referring to different characteristics of these rise and fall in prices, wages, and commercial activity.
It is as if mercantile cycles were a wave:
; a wave pulsating through the social and economic relationships formed by workers, owners, investors, and policy makers or enforcers. The high point is the crest of the boom, the trough is the low-point, or bottom of the bust.
A cyclical behavior pattern: waves of commercial scarcity and glut in American economic history.
Duration of recessions
Date: 12 -8-08 *&* 10-1-2015