The difference between a recession and a depression

[I have WHAT in my yard?]

I was always told its a recession when your neighbor loses his job and its a depression when you lose yours.

DH just lost his job today. Permanently. It's simply gone.

I only work part time and we know full well that good paying manufacturing jobs are rare. The CEO gets over ten million a year and a bonus for cutting costs.

We need all the positive thoughts we can get.

 

[EweSheep]

 

[piecemaker]

good thoughts your way

piecemaker

 

[Luvin Life]

My prayers are with you.

 

[Scoop]

The so called experts say a recession is short and a depression is a long recession. I say we already are in a depression. I can't believe how many houses are vacant and/or foreclosed in my area. Oh my, so sorry.

 

[Kansaseq]

I'm so sorry.

 

[EweSheep]

From what I understand, we are not in a depression but still in a recession. A depression would be really bad, take a look back in stock market crash of 1929, the downfall of ecomony fueled the fire of uncertainty and soup kitchens. We are not there just yet.

 

[I have WHAT in my yard?]

"we're just not there yet" is the key. The real depression didn't start until 1933.

And as long as they can keep us fighting amongst ourselves we'll keep getting the shaft. There are some eery similarities between now and 1932.

 

[I have WHAT in my yard?]

Here is the link to a comparison of newspaper headlines from 1932 and now.


http://www.scribd.com/doc/19729161/Havent-We-Been-to-This-Show-Before-Dan-AlpertWestwood