Let's see... There's 12 turns in a year, right? I've had plenty of games with recessions that lasted 1200 turns. And longer. (That's right, 100 years. Whee! 2185 to 2285... recession!)
Didn't even trouble me at the time. Of course, I was trade raping the AIs, selling them ships for a little bit now and lasting until the end of time. They'd pay for whatever they could get. Let me kill their economy completely... they couldn't afford to do anything but pay me. And the AI was too stupid to go to war to break its deals.
Econ resources are a true gift. Max them out. Trade modules where you can get a decent return can really help out.
Hadn't thought of the loan for money deal. Thanks!
You've got Tax sliders, and Spending. Use them if you need them.
I have yet to need to sell a tech to the AI. I'll give my trade partners some decent techs to keep them afloat to keep my economy chugging along at a nice level why pumping out the ships and grabbing the techs, but hey, I'm still working my way up to the more challenging levels... Maybe the economy isn't as easy to manipulate?
Recession is one event that I don't even notice. 87 craft suddenly being given to my opponents early on, that's noticable. Space sharks and pirates, when noone has better then star fighters, that's noticeable. But recession? Might be trouble if you haven't gotten to playing with the tax money/spend money slider. Heck, you can tax at like 90% for the entire game and still keep a 100% morale in 049 (as long as all your worlds started at decent PQ).
Give the game a spin again, and keep an eye on your tax/spend sliders. And remember to sell off your spare, older ships. The higher that diplomacy, the longer you can make the payments they owe you for the ship.