Reply #19: Canned answers

[DadOf2LittleAngels]

From The Business Cycle Dating Committee at the National Bureau of Economic Research

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’s called an expansionary period. By this definition, the average recession lasts about a year.

FYI before the big one all recessions were called depressions the new naming difference does nothing but server as a talking point for whoever is in charge so that can say 'Its *just* a recession' so even to this day there is no definition other than to say a depression is just a long recession.

Now bear in mind this too is very deceptive because say 3% loss in GDP per year even if its stable will make things on the poor and middle class worse and worse as time goes on..