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I think of the word "depression" as a lagging descriptor. It means there have _already_ been two to three years of low or negative GDP growth. Technically, I t
by mtnygard 6y ago
I think of the word "depression" as a lagging descriptor. It means there have _already_ been two to three years of low or negative GDP growth.
Technically, I think it even takes 2 quarters to call a recession.
But I get your point... even if we don't have the stats for six months or two years, we all know where this is going. It's just the standard terminology doesn't help right now.
- chadlavi 6y agoThis makes sense to me, but people are talking about it in future-forecasting terms already ("this will have been..." etc), might as well start facing the music in those future-perfect statements and say it will probably have been a depression.