Defining Economic Depression

Will they ever admit we are in a depression? I've been doing some research, and it seems there isn't an agreed upon definition for a depression. If saying we are officially in a depression, I feel it will hurt us more than if the government didn't admit it. The people who are oblivious will keep spending their money to the last penny.

All of you ATSers, in your researching this global meltdown, what have you found to be a measurable, realistic, definition for an economic depression?

I was actually reading this news story a couple of mins ago - you might find it helpful....or not

news.yahoo.com...

reply to post by Avarus
2009 Depression Validated
www.abovetopsecret.com...

Try this on fer size...now look throught it, don't just open the last page...

You tell me after seeing all that...Depression?

The definition of a depression is a period of negative growth that lasts for more than two quarters. You can also throw in unemployment rates as well, depending on the market, over 8-10% is considered at depression level.

I mistyped, the first part is a recession, not a depression. We've been in negative growth for 2 years now so I would say that we're in it. Sorry about that.

reply to post by Chikaleen
Japan has lost 10%-12% in the past 4 months...
Does this qualify?

The Stock Market has lost more, faster than the great depression actually...it took them 7 yrs to lose as much as we have in 2 yrs...

Well if we've lost so much so quickly to be a comparable to the percentage lost in 1929, why haven't they called it? Are they ever going to admit it's happened?

reply to post by Avarus
maybe in 30 yrs...like last time...butt-nuggets..

try this...
www.the-signal.com...
www.chartingstocks.net...
www.online-stock-trading-guide.com...

The quote doesn't touch on the obvious parallels in the banking system. Although there haven't been as many bank failures, the magnitude of the financial failures today are enormous - Bear, Lehman, Fannie, Freddie, Wachovia, Washington Mutual, Countrywide, National Citi, AIG. I realize not all of these were failures but many of the banks listed were purchased at firesale prices to prevent a failure.

The question to ask yourself about this recession is whether you think it's like the relatively mild downturns of 2001-2002, and 1991-1992 and even 1980 or is it really the worst economic downturn since the Great Depression? Because if you believe the latter, then that blue line has further to fall.
www.bestcashcow.com...

[edit on 3/2/2009 by Hx3_1963]