Originally Posted by
UPSFO4LIFE
And for all you people who think we are on the verge of a depression, should pick up a book on the subject. When we get to 25% unemployment, then you can begin to talk. If that happens, I don't think there will be a need for either UPS or Fedex next day Air. We may have 300 pilots total on the list, and I will be eating dinner at the local church and living in a van down by the river!
I found a few definitions of depression and actually a few fit. The 25% unemployment is the peak of unemployment for the "Great Depression" but I don't think anyone has a number associated with a general depression. One indicator is said to be a GDP of greater than a 10% decline. One factoid that I recently discovered was that all periods of economic declines prior to the 1930's were referred to as depressions.
- a mental state characterized by a pessimistic sense of inadequacy and a despondent lack of activity
- a long-term economic state characterized by unemployment and low prices and low levels of trade and investment
- natural depression: a sunken or depressed geological formation
- sad feelings of gloom and inadequacy
- a period during the 1930s when there was a worldwide economic depression and mass unemployment
- low: an air mass of lower pressure; often brings precipitation; "a low moved in over night bringing sleet and snow"
- depressive disorder: a state of depression and anhedonia so severe as to require clinical intervention
- a concavity in a surface produced by pressing; "he left the impression of his fingers in the soft mud"
- angular distance below the horizon (especially of a celestial object)
- pushing down; "depression of the space bar on the typewriter"
We may not be in a depression but for some of the 300 UPS pilots (as well as others furloughed right now) it might feel like one.
Cheers!
