tag:blogger.com,1999:blog-32512109.post8610804374813098978..comments2024-03-27T11:10:52.382-07:00Comments on On My Mind: Another "Jobless Recovery"Jayhawkhttp://www.blogger.com/profile/00756807802218022043noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-32512109.post-20798479151723235572010-06-15T01:03:08.506-07:002010-06-15T01:03:08.506-07:00It has been something like 30 years since I took e...It has been something like 30 years since I took economics, and I don't remember the exact distinction between a "depression" and a very bad "recession". But as I recall, it had to do with with deflation of the currency, and (maybe "or") a certain number of successive quarters of "negative growth". (Now there is an oxymoron for you! In plain language, the economy gets smaller.) I noticed about a year ago that both of these criteria had been met -- that we were in an depression, but nobody would admit it! Actually, I did hear one person admit in a television interview that we really were in a depression, but that we couldn't call it that, because it would frighten people if we did.<br />Bah! <br /><br />By the way, does your 20% include those who are working full-time, but have to have three jobs to do it? And those who are working 40+ hours a week, but still can't make enough to keep food in their kid's bellies and a roof over their heads at the same time?Arthurnoreply@blogger.comtag:blogger.com,1999:blog-32512109.post-78238167619123671612010-06-13T12:59:37.653-07:002010-06-13T12:59:37.653-07:00Very good commentary. Right on the money.Very good commentary. Right on the money.Bartender Cabbiehttps://www.blogger.com/profile/05623813045706584212noreply@blogger.com