The difference between Recession and Depression is the extent of
the job losses. The flippant answer is "when your neighbour
loses their job, it's a recession; when *you* lose your job, it's a
depression".
Re: difference between Recession and Depression -- I was kind of
joking when I asked, but I did actually google it and basically it
says over 20% unemployment = a depression (and that it needs to be
an extended time). I promise you when we hit 20% in the coming
weeks the press will not be calling it a depression. Since there is
no real definition I think it's going to be a dealers choice --
call it what you want, but no matter what you call it it's a
disaster.
That's a staggering chart. Scary.
Over 10 Million Americans Applied For Unemployment Benefits In March ...
Posted by puma on 2nd of Apr 2020 at 09:10 pm
That's a staggering chart. Scary. So what's a recession and what's a depression? Just asking for a friend.
The difference between Recession and
Posted by rojoch on 3rd of Apr 2020 at 01:22 pm
The difference between Recession and Depression is the extent of the job losses. The flippant answer is "when your neighbour loses their job, it's a recession; when *you* lose your job, it's a depression".
Re: difference between Recession and
Posted by puma on 3rd of Apr 2020 at 01:28 pm
Re: difference between Recession and Depression -- I was kind of joking when I asked, but I did actually google it and basically it says over 20% unemployment = a depression (and that it needs to be an extended time). I promise you when we hit 20% in the coming weeks the press will not be calling it a depression. Since there is no real definition I think it's going to be a dealers choice -- call it what you want, but no matter what you call it it's a disaster.
It is a scary chart.
Posted by goldnice on 2nd of Apr 2020 at 09:14 pm
It is a scary chart. I honestly never thought i would see anything like it. This makes 1929, 1987, 2000, 2008 look like a Sunday picnic.