Quote:
Originally Posted by TheCoolinator
No.
We are in the second phase of a depression. The recession started in 2008 and by January it was considered a depression.
We must remember the definition of a Recession and that of a Depression. Recessions only last a few months.....after those select number of months then it is defined as a depression.
2008-2010 = Depression - Job losses, bankrupt banks, credit freezes, bailouts, bankrupt states, forclosures, etc, etc, etc...
Just because the men on television keep referring to it as a "Deep Recession" or a "Credit Crunch" that's just another way of saying DEPRESSION.
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No, the definition of a recession is a significant decline in activity spread across the economy,
lasting longer than a few months, as you previously posted in another thread. You had trouble reading your own definition in that thread too, though. It's already been pointed out how you don't seem to understand how bad things were in the recession of the '70s, let alone the depression of the '30s so I'm not surprised that you would consider what's going on now as a depression. It'd blow your mind if you went to live in a third world country for a few months.
Quote:
Originally Posted by TheCoolinator
Your point?  |
He was pointing out how you contradicted yourself.