Understanding the economic rollercoaster |

When business related topics are in the news, it is good for our "business" in the business department. But when it is the main news day after day, (US deficit problems and subsequent downgrading by Standard and Poors, global stocks rollercoastering, European countries needing bailouts) – need I list anymore ? – people get edgy.

The dreaded term that keeps flying around is "recession". A recession defined as "a temporary depression in economic activity or prosperity" according to the World English Dictionary. But what is considered "temporary"? The National Bureau of Economic Research states that "a recession is a significant decline in economic activity spread across the economy, lasting more than a few months."

If it seems like we just rode out a recession, it's because we just did – the last recession occurred in 2008. But a quick look at the history of recessions shows that up until 25 years ago, recessions were a common occurrence lasting anywhere from 7 months to 43 months.

With all the pundits telling investors not to panic, there has never been a better time to check out the resources available at the library. Investment newsletters, business magazines and newspapers are all good sources to look at so you will be armed with information. The recent economic meltdowns have provided a wealth of books to read on the topic. Check out some of these available at Toronto Public Library branches: