recession vs depression

[vmax190]

does anybody know the exact difference between these two, they say we are in a recession now, 1 out of 5 people in my area are out of work, the company i work for is the only one within a 100 mile radius that you can work 40 hours, in the last year alone i have lost over 30k in my pension, any thoughts guys?:ummm:

 

[kaboom]

does anybody know the exact difference between these two, they say we are in a recession now, 1 out of 5 people in my area are out of work, the company i work for is the only one within a 100 mile radius that you can work 40 hours, in the last year alone i have lost over 30k in my pension, any thoughts guys?:ummm:

Semantics....and duration.....

Depends on your perspective and point of view.......

Sorry to be so vague but that is the only definition I can come up with:confused2:


If you are still working and making the same money....it's only a recession....

If you are recently unemployed....definately depression.....:damn angry:

 

[vmax190]

Semantics....and duration.....

Depends on your perspective and point of view.......

Sorry to be so vague but that is the only definition I can come up with:confused2:


If you are still working and making the same money....it's only a recession....

If you are recently unemployed....definately depression.....:damn angry:

thats what i am talking about, me and my wife still have jobs, and i have good friends who have worked at good companys for 30 plus years and are out of work, it scares the shit out of me, i have 3 grand children, whats this country going to be like when they are grown

 

[KJShover]

"A recession is when your neighbor loses his job.
A depression is when you lose your job."


http://economics.about.com/cs/businesscycles/a/depressions.htm

 

[vmax190]

"A recession is when your neighbor loses his job.
A depression is when you lose your job."


http://economics.about.com/cs/businesscycles/a/depressions.htm

c'mon KJ you can better than that.

 

[kaboom]

thats what i am talking about, me and my wife still have jobs, and i have good friends who have worked at good companys for 30 plus years and are out of work, it scares the shit out of me, i have 3 grand children, whats this country going to be like when they are grown

At this point.....I am not sure I want to know:confused2:

 

[Noxx72]

in the last year alone i have lost over 30k in my pension, any thoughts guys?:ummm:

The silver lining here, is that if you still have ten years or more left on your career, this is a great time to up your 401K funding. I plan on working another twenty years, and ATM I'm banging lots of what used to be mutuals money into my companys stock, since it's currently "half off".

Of course if you were putting on your coat and getting ready to leave it's another story entirely.

This is also a very good time to make any large, long term purchases (vehicles, appliances, etc) as retailers are desperate to sell, and recovery from recession is almost universally followed by inflation, so get those dollars working for you now while they are still worth something.

 

[vmax626]

"A recession is when your neighbor loses his job.
A depression is when you lose your job."


http://economics.about.com/cs/businesscycles/a/depressions.htm

I guess I`m in a depression too but I`m looking into a home buisiness.
being unemployed sucks:damn angry:

 

[vmaxride06]

Recession is when your neighbor loses his job. Depression is when you lose your job. Recovery is when Obama loses his job.

 

[kaboom]

:rofl_200:

 

[vmaxride06]

My new Hero, Man watch this guy!!!!!!!!!

http://www.youtube.com/watch?v=UP73cK3GXdo

 

[kaboom]

That's who should have ran for president:clapping:

 

[jfeagins]

A recession is when economic growth slows down, but remains the same or grows at a slower rate than before, if I remember economics class in college, while a depression is when the economy actually suffers a sustained loss of value and a dollar becomes worth less. The gross product of america is going backward, so I'd say we really are in a depression.

Now if we could figure out a way to prevent huge companies like AIG from paying their top execs huge bonuses from the stimulus money Obomunism just paid them, ........ :bang head::bang head::bang head:

 

[jedi-]

A recession is when you can't afford to ride your Vmax on the weekends but ride it to work to save fuel money v's the car.

A depression is where you can't afford fuel costs at any price, the Vmax is parked and you're catching the train.

 

[BIGMO]

I am surprised none of my congressmen have suggested that THEY themselves take a pay cut. im sure that it is right around the corner for all politicians to take a 40% pay cut ... hell they are all millionaires anyway.