We do not have recessions anymore — at least not with the frequency and severity of the past. Since the early 1980s, recessions have become shorter, fewer, and milder, and policymakers have figured out how to manage the economy better.

26:17our ranking on this guy's data. Bubble, bubble, bubble, bubble. Um, all right. I I was thinking about this in relation to my normal economic environment and I I know you think I'm trolling. I'm just I'm just putting out with the data set. Why don't we have recessions anymore? It feels like now a lot of people I put this question out there and I looked at the the National Bureau of Economic

26:38Research has it the data going back to 1857. So looked at all these 20-year blocks of how many recessions did we have and pretty much for a hundred years we averaged four to five recessions every 20 years. And since the 70s, early 80s, that has completely it's flipped. The recessions are shorter in months and we have they're they're fewer in magnitude. We don't have recessions anymore. Now, some people say, well, the

27:04reason we have recessions this decade is because fiscal deficits and government spending and monetary policy. And I would say if that stuff stopped us from having recessions anymore, it's worth it. And I know that's obviously not the only reason that we don't have recessions anymore. You couldn't you couldn't possibly say no that has no impact. Of course it does. Policy makers have figured out how to manage the economy

27:28better. And that's a wonderful thing. We don't have recessions anymore as much as we used to. >> You know how uh Bill Simmons will sometimes say how does like uh I don't know how many MVPs LeBron has, but let's just say how does LeBron only have three MVPs, right? >> And it's like well zoom in. Let's let's actually look at it year by year and say like which year was he robbed and then

27:52let's assess it that way. So to answer your question, I want to do something similar. >> Oh, 2022 for sure. That should have been a recession. Should have been >> totally should have been a recession. >> But so so zoom in the 2010 postGFC decade. Obviously, we were coming out of the worst recession since the Great Depression, right? So, consumers, balance sheets, governments, corporations, everybody was healing and

28:22it probably took 3 to 5 years after that at least. >> Yeah. But 2011, everyone and their brother said double dip recession. Europe, the European debt crisis, this is going to drag us into another recession. Like that everyone was saying that 2011 that was Yeah. But we were to me like that was still post GFC that gets lumped in with post GFC that was not that far removed. There was