Depression? Recession?

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ShiftedJewel -> Depression? Recession? (10/23/2008 7:22:30 AM)
*What are they technically and how are they different?* *Jewel*

kittinSol -> RE: Depression? Recession? (10/23/2008 7:25:35 AM)
Depression: Prozac. Recession: Rogaine.

Dnomyar -> RE: Depression? Recession? (10/23/2008 7:57:27 AM)
Depression = putting it in Recession = pulling it out.

TNstepsout -> RE: Depression? Recession? (10/23/2008 8:23:32 AM)
There's not really a defined definition between the two. A depression is usually longer and the numbers are worse.

kittinSol -> RE: Depression? Recession? (10/23/2008 8:28:59 AM)
A depression is digging a hole. A recession is pushing things away. With a depression things get buried; with a recession they just get put out of sight temporarily. This confirms that a depression sucks ass far more than a recession.

ShiftedJewel -> RE: Depression? Recession? (10/23/2008 9:16:54 AM)
*Ok then... I'm more confused then I was when I started this...* *Jewel*

BitaTruble -> RE: Depression? Recession? (10/23/2008 9:57:42 AM)
quote: ORIGINAL: ShiftedJewel *What are they technically and how are they different?* *Jewel* Yeah, it's a confusing subject and even among economists there's no clear cut answer. Generally a depression is when the GDP (gross domestic product which relates to growth, business activity, employment etc) falls below 10%, otherwise it's a recession. Lots of room for argument there though.

Vendaval -> RE: Depression? Recession? (10/23/2008 2:46:59 PM)
The common metaphor is that a recession is when your neighbor looses their job and a depression is when you loose yours.

LookieNoNookie -> RE: Depression? Recession? (10/23/2008 5:14:35 PM)
quote: ORIGINAL: ShiftedJewel *What are they technically and how are they different?* *Jewel* Excellent question and very easy to answer: Recession: When your neighbor loses his job. Depression: When you lose yours.

LookieNoNookie -> RE: Depression? Recession? (10/23/2008 5:16:00 PM)
quote: ORIGINAL: Vendaval The common metaphor is that a recession is when your neighbor looses their job and a depression is when you loose yours. (DAMN YOU!!!! I better read all of these before I respond LOL)

MzMia -> RE: Depression? Recession? (10/23/2008 7:21:31 PM)
quote: ORIGINAL: ShiftedJewel *What are they technically and how are they different?* *Jewel* What a great thread for the current economy, I am surprised not to see more these days. Newsweek.com has a great article and definition going. Economy: Are We in a Recession or Depression? \| Newsweek Business \| Newsweek.com Many people {including MzMia} have been stating we are headed towards a depression. It is clear we are finally "officially in a recession", though many people {myself included} believe we have been in a recession for over a year. You can find hundreds of definitions for what a "recession" or a "depression" IS. This is the way I interpret it: The definition of a DEPRESSION is a recession, that lingers for years. Well welcome to the beginning of the NEW DEPRESSION era, cause all indicators are showing that this ain't going away any time soon, and will last for years. If our current "recession" lasts more than a couple of years, many people will soon start calling our situation a "depression".

ShiftedJewel -> RE: Depression? Recession? (10/24/2008 7:24:16 AM)
*You know... Maybe I just need to steer clear of politics and the like... I'm really not getting it. But thank you for the link.. I'm gonna check on it.* *Jewel*

meatcleaver -> RE: Depression? Recession? (10/24/2008 7:41:09 AM)
Two consecutive falls in the GDP the official definition of a recession, however, there is no official definition of a depression but depressions are usually described as deeper and longer than a recession and a slump could be described as a collapse in the economy.

sub4hire -> RE: Depression? Recession? (10/24/2008 8:02:56 AM)
More importantly, which one are we heading for? I think depression...although I'm hoping for a recession. Recession isn't quite as long lasting as a depression. I do not want to have to wait in line for month's to get my money out of the bank that collapsed. Just waiting on the feds.

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