The document discusses media buying and selling during recessions. It defines a recession as a period of reduced economic activity lasting more than a few months. Recessions are caused by downward economic spirals that can be triggered by financial, political, or climate shocks. During recessions, demand decreases while supply remains high, driving down prices. The document then analyzes the causes of the late 2000s recession in the US and its global impacts. It outlines various manifestations of a recession, both generally and for the media industry specifically, such as delayed payments, budget cuts, and increased competition. The document concludes by providing recommendations for advertisers, media agencies, and broadcasters to follow during recessionary times, focusing on principles like measurement,