What exactly the fuck is a recession?

as far as i understand it, in lamens terms.
pretty much the blame comes down to the greedy fucks who had high paying jobs in big companies and did little more than drive around in their sports cars and talk shit. in order to give themselves a bigger cut than they were already getting they loaned money to people who cant possibly pay that shit back to buy houses etc. and now the shit hits the fan and the banks are going under because all those people simply can't pay back the loans. then stupid people make it worse by publicly telling everyone that we're all going to lose our money etc so this breeds fear in the masses and everyone wants to pull their savings out of the banks before it's too late. of course that puts the banks in even more shit, cos they just dont have the cash to give out the billions of dollars in savings people want. alll of sudden no one wants to buy shares, everyone is freaking out and of course all companies with comodities that are more luxury than essential are crashing through the roof as no one is going to go buy a new sports car at this point.

well that's what i have discerned from it all. people's greed caused this.

don't do anything right now that will put you in debt. don't buy a house unless you can buy it upfront.