Reply #24: Actually we were technically in a recovery period, or boom period up until '07

[MadHound]

Unemployment figures were much lower than they are now. What was happening was a bubble was being inflated and we were living high. Grant you, much of it was fueled by credit and debt, but living high nonetheless.

But as I said earlier, this last recovery or boom period was the weakest in our history, and for many people it didn't seem like a recovery at all.