Flanking A Price War

I do agree with you that we have been on an economic expansion since the 50's, but we have seen recessions during that time frame. You bring up a good point in that we have not seen a decline in growth since then and if we use this criterion as a business cycle then we could measure this as what economists call a Kondratieff wave which states that the economies of the western world are have major up-and-down "super cycles" lasting 50 to 60 years. Your assessment that "we don’t haven’t have 1 full cycle yet since our economy is not even close to what it was in the 50’s?â€...