Why is it a recession rather than the second Great Depression?

[Big Dog]

No soup or bread lines.............yet.

[Bobl]

Recession is reading about the decline in economic activity, and worrying about it.
Severe recession is losing one's job and dealing with overdue bills due to the decline in economic activity.
Depression is wondering where your next meal and shelter will come from.

Unsophisticated and anecdotal, but arguably true!

[Lorax]

The reason is the conservative co-opted media, all of which is owned or managed by right wing conservative interests. They certainly aren't going to point the finger of blame on themselves.

Rupert Murdoch's Newscorp is a fascist organization, and those who work for Fox are taking their talking points from an Austrailian fascist.

The safety net of what conservatives deride as "socialist systems" like Social Security, Medicare and Medicaid are in place now, and were a direct result of the Great Depression.

Goes to prove that socialism when handled properly, can work well. Can anyone imagine the anarchy that would take place if we didn't have the social safety nets in place, as underfunded as they are, even now?

What's even scarier is what the nation's domestic policy would look like if John McShame and Saracuda were in the White House.

[ccbatson]

The definition of recession is pretty cut and dry...negative growth of GDP for at least 2 quarters. Depression is less well defined. Most agree that a very deep and very prolonged recession is a depression. Some say that a decline of GDP over 10% qualifies.

[Lorax]

All I need to see are the rows of homeless people standing under overpasses here in Miami, and the tent cities, now know as Bushievilles popping up all over California and the southwest.

Pick nits if you like, it's a depression, and a deeping one at that. Thanks to Bush Cheney- now that's not change we can believe in!

[Gannon]

Just wait until our new-and-improved Dustbowl hits...we're a season or two away from those reports.


You will begin to hate that 'Perfect Storm' analogy...

[firstandten]

Depression - possibly. Great Depression - nowhere close [[yet).

I'll just settle for the Republican Depression