Are You as Tired of This "Recession" As I Am?

[SATIRical]

39. For depression, yes

But for recession, which is less severe than a depression is generally one of two definitions:

http://economics.about.com/cs/businesscycles/a/depressions.htm

"The standard newspaper definition of a recession is a decline in the Gross Domestic Product (GDP) for two or more consecutive quarters."

"The Business Cycle Dating Committee at the National Bureau of Economic Research (NBER) provides a better way to find out if there is a recession is taking place. This committee determines the amount of business activity in the economy by looking at things like employment, industrial production, real income and wholesale-retail sales. They define a recession as the time when business activity has reached its peak and starts to fall until the time when business activity bottoms out. When the business activity starts to rise again it is called an expansionary period. By this definition, the average recession lasts about a year."

By neither definition are we (99% or even the 100%) in a recession, much less are depression.