Quote:
Originally Posted by Dragoneye
I agree with ya, Mr. Icky.
I'd like to extend my thoughts on the subject...A "depression" by definition (at least the way I was taught) is an extended recession. So if this environment continues for any length of time, we could very well be in a legitimate depression. However, we have not nearly reached the severity of the Great Depression. And I pray to God we never do.  |
I believe a depression is an extended significant downturn, something like 10% reduction in GDP. I think the forecast for 2008 is something like 1.5-2% reduction.