This happened in March-June of '07. Profit margins and corporate profits started to go down. You get profit margins to go down and then you get the recession. This bar is here is when the recession started. The dot-com bubble March of 2000 went down. Here you go. In 1990 before the recession negative before. Negative before 1980. This was a weird period because you had Volcker fighting inflation but you still went negative. This one didn't break down until later. The main point about this one is it's
This was a weird period because you had Volcker fighting inflation but you still went negative.