“ Of course, discretionary compression might mean that some businesses are just the wrong places to be. There seem to be various versions of the statement that ‘a recession is when you have to tighten your belt, and a depression is when you have no belt left to tighten. If you’ve lost your trousers as well, you’re probably in the aviation business’.” Er is hoop. https://surplusenergyeconomics.wordpress.com/2025/07/06/306-henrys-paradox/