A Thought Just Occured to me. ( Queit at the back) As we are defo in a reccession I dont think that we need anymore signs. What think ye of a depression thread?
The Signs of the recession thread is depressing enough thank you.
What’s the difference between a recession and a deppression, other than whether employed or not.
A depression is when living in Albert Square looks inviting.
In recessions governments, unlike firms, do not slash spending and jobs, so they help to stabilise the economy; and income taxes automatically fall and unemployment benefits rise, helping to support incomes. Another reason is that in the late 19th and early 20th centuries, when countries were on the gold standard, the money supply usually shrank during recessions, exacerbating the downturn. Waves of bank failures also often made things worse.
But a recent analysis by Saul Eslake, chief economist at ANZ bank, concludes that the difference between a recession and a depression is more than simply one of size or duration. The cause of the downturn also matters. A standard recession usually follows a period of tight monetary policy, but a depression is the result of a bursting asset and credit bubble, a contraction in credit, and a decline in the general price level.
No more Signs of the Xxxx threads, please!
ok girls now ye have it from an Economist “size does count”…Question for Saul “does that mean we had a depression back after the dotcom.burst”… its just one depression after another so.That Anglo/American Economic model is one giant fuck-up.
I’ve seen a few recessions, but I’ve never seen a depression before. What was that definition i heard of the difference between the two?
I think it was in a recession your neighbour loses their job, but in a depression you lose you job too! The catbear household is certainly down a few days work.