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Originally Posted by The_Blur
 On a related side note, it irks me when newscasters still report on how we're "heading toward" recession.  No longer is anyone asking, "Are we there yet?" We've been there in the parking garage for months! |
Wait, Not that I thnk the economy is good, by any streatch of the imagination. But, there are spedific numbers that we have to hit for it to be a real depression. We aren't there yet.
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So how can we tell the difference between a recession and a depression? A good rule of thumb for determining the difference between a recession and a depression is to look at the changes in GNP. A depression is any economic downturn where real GDP declines by more than 10 percent. A recession is an economic downturn that is less severe.
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