Monday, November 17, 2008

Getting our terms straight.

Unc's post on how the economy around him seemed okie-dokey reminded me of this handy set of definitions of common economic terms:
Downturn: You hear that people have lost their jobs.

Recession: Someone you know has lost their job.

Depression: You have lost your job.
@

4 comments:

  1. Anonymous9:50 AM, November 17, 2008

    with the last having a double edge since being jobless is a near-certain recipe for the medical sort of "depression."

    ReplyDelete
  2. Les Jones10:32 AM, November 17, 2008

    Then there's the Ronald Reagan version: “A recession is when your neighbor loses his job. A depression is when you lose yours. And recovery is when Jimmy Carter loses his.”

    ReplyDelete
  3. Anonymous12:13 PM, November 17, 2008

    With apologies to Les Jones, "A recession is when your neightbor loses his job. A depression is when you lose yours. And recovery is when Barack Obama loses his. ;).

    ReplyDelete
  4. Anonymous9:10 PM, November 17, 2008

    a downturn happens if a democrap is in office. The other two only happen when repulicans are in office.
    Just check your local papers and you will see that I am correct.

    ReplyDelete

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