Recession Or Depression...which Is It?
I keep hearing that we're in a "recession". Why do I beleive that it's actually a "depression"?
When anyone mentions "depression" everyone thinks back to the early 20th Century and the "Great Depression". Surely, the name implies that there are "lesser" depressions than that one.
What is the difference between the two? Which one are we in and why do you think so?