Shape of the Economy

<< published 2026-08-14

Recessions are often described in the shapes of letters, to describe how the market recovers. Here is an easy guide to recovery shapes.

V-shaped
The economy suffers a sharp decline, immediately followed by a strong recovery.
r-shaped
The economy suffers a sharp decline, immediately followed by a strong recovery that stabilizes afterwards.
U-shaped
The economy suffers a sharped decline with an extended trough before recovering.
L-shaped
The economy drops and does not recover.
J-shaped
The economy initially declines but recovers to a more advantageous position. To the Moon!
W-shaped
The economy drops and appears to recover, before dropping again, followed by a recovery.
A-shaped
The market spikes before correcting. A pump-and-dump.
N-shaped
The economy spikes, followed by a correction, before continuing to rise.
M-shaped
An N-shaped economy followed by a steep correction.
h-shaped
The economy plummets, rallies, then continues to fall. A dead cat bounce.
K-shaped
Some parts of the economy recover, while other parts of the economy stagnate and decline. The economy, long united, must divide.
C-shaped
A reverse of the K-shaped recovery where the economy reunifies. By travelling back in time, surely. The economy, long divided, must unite.
X-shaped
An inverse K-shaped economy, where the fortunes of the recovering and the stagnating sectors of economy reverse. L'économie est morte! Vive la révolution!
y-shaped
A C-shaped economy, but forward in time in a bull market.
Z-shaped
We've invented time travel, but every time we go back we just make it worse.
S-shaped
We've invented time travel, but every time we go back we make it worse. Or better? I dunno, watch Primer.
d-shaped
We've rescued the market using time travel.
g-shaped
We thought we rescued the market with time travel, but it turned out we just made it worse.
p-shaped
Things were going well until we invented time travel.
E-shaped
We've invented a caste system.
B-shaped
We are altering the caste system. Pray we don't alter it any further.
F-shaped
We've successfully eliminated the lower class, surely nothing can go wrong now.
T-shaped
Things are going perfectly fine for the survivors of the apocalypse.
O-shaped
All of this has happened before, and it will all happen again.
Q-shaped
The economy is cyclical but some sectors have found a way to escape samsara.
I-shaped
The economy was a social domain that briefly existed at the dawn of civilization, before being supplanted by more ethical methods of resource management.