Are we in a depression to trying to avert one?

January 8th, 2009 smith

Seems to me we are in the early stages.

First off, a recession is defined as 2 consecutive quarters of negative growth. We have had positive growth as of last GNP report. Second, there have been 9 worse market meltdowns losing more in the last 100 years.

The uncertainty is this is a global crash, not a domestic as previous ones. So it is unchartered water which include foreign markets, economies, and government, giving us less control.

I would not call what is happening in the financial markets either. What we have is a"banking panic", which has the potential to do damage to the real economy but it has not had much effect so far.

I hope not. I really sincerely truly hope not.

People forget how bad the depression really was. It was a serious disaster.

I think the key is working through our problems quickly. A recession is fine and normal. A recession that is drawn out for 10 years is a depression.

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Are we in a depression to trying to avert one?

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