Essentially, recessions happen when there are too many people not engaged in wealth-creating activities being supported by those who do actually create wealth, as explained by the following work of genius:
http://bedejournal.blogspot.co.uk/2012/01/why-recessions-happen.html
This should be widely read and understood - not that linking to it on my own modest blog is going to help very much!
Also worth reading by the same author, on the general uselessness of macro-economists:
http://www.huffingtonpost.co.uk/dr-james-hannam/economics_b_6953320.html
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