The Depression and The Recession

Soup kitchens were and are well attended. Here the Navy
staffs a recent soup kitchen in Salinas, California

The Great Depression and what is happening today financially seem very similar. No matter how these times are labeled compared to the Great Depression, there was hardship then and I know there is a great deal of hardship now.  That’s from practical experience, from reading books and searching the Internet and I’ve learned it must take a great deal of research to sort it all out.

I never feel like I’ve gotten to the heart of the matter with all of my questions answered.  So, as there is safety in numbers, I’ve decided to take you with me to see what you think about it all and share some information, hoping that you’ll respond about what’s happening to you where you are in the country, or the world.

First, here is an interesting comparison page on CNN, that you can access by clicking here.

Then I found an article, also on CNN, that says this is definitely a recession and not another depression and explains the ramifications of each, and you can find that here.

This video finds more similarities than not between the Depression and whatever is happening today, however you want to label it. To me the video was helpful in adding another point of view. Love the song, by the way…

Housing Bubble vs. Great Depression

Then, to top it off, here is an article on saying that the only difference between a depression and a recession is the length of time…whoa! After all we’ve learned in other places, that’s heavy. You can see in the article that “a depression is a protracted recession.” Here, you can read it yourself,  or read this except to get the gist of the discussion:

Recession versus Depression:

“It’s pretty easy to understand depressions once you get the concept of recessions. A depression is simply a prolonged or particularly excruciating recession. Economists don’t really have a watermark to indicate a depression. Believe it or not, there’s even an economists’ joke that describes the ambiguity between recessions and depressions: A recession is when your neighbor loses his job; a depression is when you lose your job [If you need a more technical explanation, click here.] While the presence of a recession is debatable, when a depression hits, the issue is no longer up for debate.”

H-m-m-m. Sorta’ seems like when you’re a kid and ask grown-ups, “How will I know when I fall in love?”

They always answer, “Oh…YOU’LL know.”


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