Where an individual deliberately refuses to acknowledge that there is a recession or that they are affected by it, often in order to imply they are less affected by the recession than they actually are. Fundamentally a form of braggery and designed to irriate other people whilst elevating one's own percieved status. It has been suggested that some sections of society are so poor as to be in "Inadvertant Recessiondenial" as they have no income and things are actually cheaper in a recession so they are actually marginally better off. Some political economists suggest that as the recession deepens more and more of society will find themselves in this later position and we will enter a period of impoverished utopia.
Average guy in the street: "Look at X he's such a tosser, he's got a new Kia Spazmo, is going on holiday to PapArse and is wearing a new pair of designer jeans that he paid full price for."
Mate: "What a frickin' prat - he's in total Recessiondenial."
Average: Yeh and you just know he argues with his wife about money in private and they don't eat properly."
Recessiondenial Man: "Hey guys - it's hot - Wanna sit in my new car on the drive with the engine running and the air con on - we can listen to one of my new CDs"