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Depression? Recession? - 10/23/2008 7:22:30 AM   
ShiftedJewel


Posts: 2492
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Status: offline 		What are they technically and how are they different?
 
Jewel

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RE: Depression? Recession? - 10/23/2008 7:25:35 AM   
kittinSol


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Status: offline 		Depression: Prozac.

Recession: Rogaine.


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RE: Depression? Recession? - 10/23/2008 7:57:27 AM   
Dnomyar


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Status: offline 		Depression = putting it in

Recession = pulling it out.

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RE: Depression? Recession? - 10/23/2008 8:23:32 AM   
TNstepsout


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Status: offline 		There's not really a defined definition between the two. A depression is usually longer and the numbers are worse. 

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RE: Depression? Recession? - 10/23/2008 8:28:59 AM   
kittinSol


Posts: 16926
Status: offline 		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.

< Message edited by kittinSol -- 10/23/2008 8:29:14 AM >

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RE: Depression? Recession? - 10/23/2008 9:16:54 AM   
ShiftedJewel


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Status: offline 		Ok then... I'm more confused then I was when I started this...
 
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RE: Depression? Recession? - 10/23/2008 9:57:42 AM   
BitaTruble


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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.

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RE: Depression? Recession? - 10/23/2008 2:46:59 PM   
Vendaval


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Status: offline 		The common metaphor is that a recession is when your neighbor looses their job and a depression is when you loose yours.

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RE: Depression? Recession? - 10/23/2008 5:14:35 PM   
LookieNoNookie


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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.

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RE: Depression? Recession? - 10/23/2008 5:16:00 PM   
LookieNoNookie


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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)

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RE: Depression? Recession? - 10/23/2008 7:21:31 PM   
MzMia


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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".
 


< Message edited by MzMia -- 10/23/2008 7:32:40 PM >

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RE: Depression? Recession? - 10/24/2008 7:24:16 AM   
ShiftedJewel


Posts: 2492
Joined: 12/2/2004
Status: offline 		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

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RE: Depression? Recession? - 10/24/2008 7:41:09 AM   
meatcleaver


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Status: offline 		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.

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RE: Depression? Recession? - 10/24/2008 8:02:56 AM   
sub4hire


Posts: 6775
Joined: 1/1/2004
Status: offline 		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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