The stock market closed at an all-time high on Wednesday with the Dow Jones crossing 19,000 for the first time this week. So how come the USA Today of Tuesday raises the possibility of the R word (R for recession)? Besides, a recession may or very well may not happen the next four years, writes Barry Ritholtz in Bloomberg View column of Oct 14 – ‘The present U.S. economic cycle is a long slow recovery from a deep recession that started in December 2007 and was aggravated by the credit crisis of 2008-09. The Wall Street Journal said the expansion “has now continued for 88 months, making it the fourth-longest period of growth in records stretching to 1854.” But expansions don’t just get old and die; something fundamental has to happen to arrest the progress. And remember, records get broken all the time’.
