February 7, 2009
What is a depression?
Story link: What is a depression?
As suggested, there is no right or wrong answer when defining a depression, all we know is that a depression and a recession are slightly sifferent, as mentioned in this article.
If the “R” word, recession, spells a headlong economic retreat, then the “D” word uttered by Gordon Brown is a problem on a wholly different scale, standing for “disaster” as well as “depression”.
Both recessions and depressions are the sorts of things that experts argue about how to define, but ordinary folk know when they see them.