Chances of a "officially recognized" economic depression within 10 years ?

[steve2470]

Officially recognized economic depression = stated by the government and these people: National Bureau of Economic Research

6 votes, 0 passes | Time left: Unlimited
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	0 (0%)
	25%
	1 (17%)
	50%
	1 (17%)
	75%
	0 (0%)
	100%
	4 (67%)
	I don't know
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	Other (see my post)
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[Drunken Irishman]

1. Depends on what happens this November.

[steve2470]

2. excellent point nt

[jtuck004]

5. Or maybe not. n/t

[Po_d Mainiac]

6. yup n/t

[malthaussen]

3. Unemployment could be 75% and they'd still call it a recession

Nobody is going to be willing to admit that the system is that broken.

-- Mal

[limpyhobbler]

4. I don't think the NBER identifies depressions

In the United States the National Bureau of Economic Research determines contractions and expansions in the business cycle, but does not declare depressions.[1]

http://en.wikipedia.org/wiki/Depression_(economics)

Q: Does the NBER identify depressions as well as recessions in its chronology?

A: The NBER does not separately identify depressions.

http://www.nber.org/cycles/recessions_faq.html

Is there really an official declaration of a depression, or is it just a worse recession? I'm not sure.

[steve2470]

8. good find ! nt

[Warpy]

7. I'd say it's 100% that in 10 years or so

the collapse that began in 2007 will be called a depression, but hey, folks, the government and corporations worked together to get us out of it.

Never mind that if you're in the 99%, you'll likely still be stuck in the middle of it.

[Drunken Irishman]

9. Retroactively? :P