If you don't prepare for it, absolutely. If you are prepared for it, recessions are actually a really great thing. Just like rain, you know it's going to rain, so you bring an umbrella to work with you so you don't get wet.

Edit: To be fair, if we did not have central banks and we're using a gold standard, then we would not have to worry about depressions and booms and busts, because we would have inflation of roughly 1% per year, depending on how much gold we could physically mine. Fiat currency and central banks cause booms and busts and transfer money from the poor to the wealthy.