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<blockquote data-quote="Old Man Jingles" data-source="post: 3649115" data-attributes="member: 18222"><p>Depression and Recession have defined terms and conditions.</p><p>The recession of 2008-2009 did not meet the threshold or length to qualify as a Depression.</p><p>It was, however to your point, the worst Recession since the Great Depression of 1929-1938.</p><p></p><ul> <li data-xf-list-type="ul"><span style="font-size: 26px"><strong><a href="https://www.thebalance.com/recession-vs-depression-definition-causes-and-stats-3306048" target="_blank">Recession Versus Depression </a><---</strong></span><span style="font-size: 15px">(note to bbsam - this is a link)</span><br /> A <a href="https://www.thebalance.com/recession-definition-and-meaning-3305958" target="_blank">recession</a> is widespread economic decline that lasts for at least six months. A <a href="https://www.thebalance.com/what-is-an-economic-depression-3306013" target="_blank">depression</a> is a more severe decline that lasts for several years. For example, a recession lasts for 18 months, while the most recent depression lasted for a decade. There have been <a href="http://wwwdev.nber.org/cycles/cyclesmain.html" target="_blank">33 recessions</a> since 1854. There's only been one depression since then, <a href="https://www.thebalance.com/the-great-depression-of-1929-3306033" target="_blank">The Great Depression of 1929</a>. It was actually a combination of the recession that lasted from August 1929 to March 1933, and the one from May 1937 to June 1938. <br /> <strong><span style="color: #ff0000">If you are wondering if we are in a depression or recession, it's probably a recession.</span></strong></li> <li data-xf-list-type="ul">The Great Recession of 2008 was the worst recession since the Depression. The 1980 recession was almost as bad. It was caused by high interest rates needed to curb <a href="https://www.thebalance.com/what-is-stagflation-3305964" target="_blank">stagflation</a><span style="color: rgb(0, 0, 0)">. Economic stagflation was a result of attempts to end the 1973 recession, which led to the demise of the </span><a href="https://www.thebalance.com/what-is-the-gold-standard-3306137" target="_blank">gold standard</a><span style="color: rgb(0, 0, 0)">.</span></li> </ul></blockquote><p></p>
[QUOTE="Old Man Jingles, post: 3649115, member: 18222"] Depression and Recession have defined terms and conditions. The recession of 2008-2009 did not meet the threshold or length to qualify as a Depression. It was, however to your point, the worst Recession since the Great Depression of 1929-1938. [LIST] [*][SIZE=7][B][URL='https://www.thebalance.com/recession-vs-depression-definition-causes-and-stats-3306048']Recession Versus Depression [/URL]<---[/B][/SIZE][SIZE=4](note to bbsam - this is a link)[/SIZE] A [URL='https://www.thebalance.com/recession-definition-and-meaning-3305958']recession[/URL] is widespread economic decline that lasts for at least six months. A [URL='https://www.thebalance.com/what-is-an-economic-depression-3306013']depression[/URL] is a more severe decline that lasts for several years. For example, a recession lasts for 18 months, while the most recent depression lasted for a decade. There have been [URL='http://wwwdev.nber.org/cycles/cyclesmain.html']33 recessions[/URL] since 1854. There's only been one depression since then, [URL='https://www.thebalance.com/the-great-depression-of-1929-3306033']The Great Depression of 1929[/URL]. It was actually a combination of the recession that lasted from August 1929 to March 1933, and the one from May 1937 to June 1938. [B][COLOR=#ff0000]If you are wondering if we are in a depression or recession, it's probably a recession.[/COLOR][/B] [*]The Great Recession of 2008 was the worst recession since the Depression. The 1980 recession was almost as bad. It was caused by high interest rates needed to curb [URL='https://www.thebalance.com/what-is-stagflation-3305964']stagflation[/URL][COLOR=rgb(0, 0, 0)]. Economic stagflation was a result of attempts to end the 1973 recession, which led to the demise of the [/COLOR][URL='https://www.thebalance.com/what-is-the-gold-standard-3306137']gold standard[/URL][COLOR=rgb(0, 0, 0)].[/COLOR] [/LIST] [/QUOTE]
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