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The word recession evokes strong emotions in people - excitement, fear, and political tension. This tutorial aims to focus on the financial aspects of a recession, not the emotions it brings. Recession is a natural part of the economic cycle and has happened in the past. The longest period without a recession in modern American history was from after the 2008 crash until February 2020, spanning 128 months. The economic uncertainty is expected to continue into 2023 and beyond, indicating the importance of understanding the financial implications for our economy.