Quote:
Originally Posted by Rich Z
How do you know whether the economy is in an actual DEPRESSION or not? Or is that something you know know looking back at it when it is over with?
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Now I don't remember the specifics, but in my Economics class we learned that a recession is a drop for a certain amount of time, and a depression is a drop for a greater time. The difference between a recession and a depression, on paper at least, is only the amount of time you are there.
I think a recession is no economic growth (or shrinkage) for more than 6 months. I could be wrong there.