Quote:
Originally Posted by bitontheslide
In economics, a depression is a sustained, long-term downturn in economic activity in one or more economies. It is a more severe economic downturn than a recession, which is a slowdown in economic activity over the course of a normal business cycle.
A depression is an unusual and extreme form of recession. Depressions are characterized by their length, by abnormally large increases in unemployment, falls in the availability of credit (often due to some form of banking or financial crisis), shrinking output as buyers dry up and suppliers cut back on production and investment, large number of bankruptcies including sovereign debt defaults, significantly reduced amounts of trade and commerce (especially international trade), as well as highly volatile relative currency value fluctuations (often due to currency devaluations). Price deflation, financial crises and bank failures are also common elements of a depression that do not normally occur during a recession.
https://en.wikipedia.org/wiki/Depression_(economics)
Unemployment is decreasing, there is still plenty credit available, there are still plenty buyers. We are not seeing an abnormal number of bankruptcies, our government has not defaulted on any loans, we are still doing plenty of trade and commerce. Our currency is relatively stable. We have not seen any recent financial crisis, our banks are recovering nicely.
No, we are not in a depression or anything close to it |
Totally agree ,but sadly that doesn't suit everyones agendas
