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The terms "depression" and "recession" aren't just catch alls, they have actual definitions. And "we" (depending on the country, i'm assuming USA) are not in ei
by jsn117 11y ago
The terms "depression" and "recession" aren't just catch alls, they have actual definitions. And "we" (depending on the country, i'm assuming USA) are not in either.
- paulpauper 11y agodepression/recession has now been redefined to mean 'economy is not how we want it to be'
- AnimalMuppet 11y agoNo. They haven't been redefined. They are used that way by people who are ignorant of the definitions, careless, or trying to mislead.
- venomsnake 11y agoDepends. If you look at the bottom 90% and their economy - we are in depression. Or extremely deep recession. The top 10% are both capturing the lion's share of new growth and siphoning wealth from the rest.
- dcd0101 11y agoNo. It doesn't depend. As he said, those words have actual definitions.
- venomsnake 11y agoYeah but USA is having two economies right now that are masked as one in statistics.
- sanderjd 11y agoPut another way: the proposition is that the current definitions of those words might not be as useful as they once were because assumptions implicit in them have changed.