Originally Posted by
CRJJ
A recession about to turn into a depression, wow............here's the first definition of depression I find on google:
"A depression is a severe and prolonged downturn in economic activity. In economics, a depression is commonly defined as an extreme recessionthat lasts three or more years".
I sure hope you're not an economist.
Well least I didn’t get it from googling...here’s a “real” definition of depression
Depressions are drastic economic downturns in which real GDP falls by 10% or more. They are far more severe than recessions and their effects can be felt for years. Depressions are known to cause calamities in banking, trade and manufacturing, as well as falling prices, extremely tight credit, low investment, rising bankruptcies and high unemployment. As such, getting through a depression can be a challenge for consumers and businesses alike.