Is there a recession?
This question is an excellent question to ask on this night of firework displays; I have just been forced to listen to over four hours of loud bangs. I dread to think how much those flashes cost the families; I will say more than a meal on the table.
Another thing to note is that I do not see an increase in old cars on the roads, and don't forget people walking around with hundreds of dollars of iPhones in their pockets.
There could be a recession for the people at the bottom but not for those people with money, as the words to the vaudeville song say "It's the rich that get the pleasure, and the poor get the blame; it's the same the world over, ain't it a bleeding shame!"