We always seem to be on the precipice of falling back into recession.
To be sure: North Korea has looked to be on the precipice more than once in living memory.
On the right side of the fall line, but precariously close to the precipice.
"steep face of rock," 1630s, from Middle French précipice, from Latin praecipitium "a steep place," literally "a fall or leap," from praeceps (genitive praecipitis) "steep, headlong, headfirst," from prae "before, forth" (see pre-) + caput "head" (see head (n.)). Earlier in English as a verb (1590s) meaning "fall to great depth."