Im glad I didn't win the lottery last night - I wouldn't want to have to put my millions in any bank at the moment!
The credit crunch also raises another question. I think its pretty much inevitable that we are now in a recession, but a few media pundits have been talking about a depression.
So, my question is...when does a recession become a depression?
Saturday, October 11, 2008
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3 comments:
A recession is a reduction in economic growth and minor job losses.
A depression is when the reduction in economic growth gets to the point of mass unemployment.
ATM only the leisure industry and luxuries are being hit.
and the banking sector too, i would imagine
a recession is when your hair goes back and a depression is when the doctor gives you tablets for it
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