Comments on: What is the technical definition of ?depression??

By: Don

Don — Sat, 22 Nov 2008 05:19:30 +0000

Collateral, I wasn't pointing the finger at you. Constantine didn't fully upload the article. He added more. You're cool, my finger pointing was at HIM!!!

By: Don

Don — Sat, 22 Nov 2008 04:19:30 +0000

Collateral, I wasn't pointing the finger at you. Constantine didn't fully upload the article. He added more. You're cool, my finger pointing was at HIM!!!

By: CollateralDamage

CollateralDamage — Fri, 21 Nov 2008 14:49:44 +0000

i think i wasn't clear in my comment. i was trying to say you were right and I agree with your point. it probably read like i was making fun of you. apologies.

By: Don

Don — Fri, 21 Nov 2008 04:50:26 +0000

Um, you want to ADD those. It equals 29.3 percent. No we weren't in a "recession", we were in DEPRESSION.

HELLO, S & P was off 89% from it's high and unemployment was somewhere between 25 and 33 percent.

"So there really is no technical definition for a depression." Uh, yes there is, just like there is a techincal definition of a recession, which is two contiguous quarters of contracting GDP.

Riduclous comment.

By: What is the definition of “depression”? « Collateral Damage

What is the definition of “depression”? « Collateral Damage — Thu, 20 Nov 2008 17:45:47 +0000

[...] More from me at BlownMortgage: It is difficult to believe but earlier this year people were still debating whether or not we were i… [...]

By: CollateralDamage

CollateralDamage — Thu, 20 Nov 2008 14:33:54 +0000

technically, you're right.

By: Don

Don — Thu, 20 Nov 2008 14:28:27 +0000

Technically, a depression occurs when the economy contracts 10%. In the early 30's, we contracted 30%, thus a Great Depression. This country has seen many depressions, but the one in the 30's was oviously the worst. I think we contracted 4 or 5% in the recession of '82 or '83.

We'll be lucky if we don't go further than that this time.