By Raffique Shah
October 10, 2026
The thing about an economic recession is it does not steal upon us like the proverbial “thief in the night”. More like the fabled Brigand of Kandahar—he has been lying, at times noisy, other times secretly constructing his web of destruction in full view of his victims who just don’t seem to be fully cognisant of all the blatant signs he has been sending them.
Traditional economics dictates that countries that are on the brink of toppling over are not yet in recession. Their economies must wait until they get to two quarters, taking them to the brink of collapse, then they will have reached the critical point. Many European nations have been teetering on the edge of economic crisis for the longest while, unable to pay outstanding debts.
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