At what Point?

[Paully_44]

Micro$oft laying off 5K
HomeDepot laying off 7K
Starbucks laying off 1K
AT&T laying off 15K
Sprint laying off 8k

and the list just keeps growing.

my question is, at what point does this Recession turn into a Depression or does it?

[rjjunior]

A recession is when your neighbor loses his job.

A depression is when you lose your job.

[MacUser]

We are not in a depression by a long shot (yet). Only certain areas are undergoing a correction.. either by market or by Government incentives.

If we were in a depression.. you would not see this headline.

U.S. Existing Home Sales Rise on Record Price Slump
http://www.bloomberg.com/apps/news?pid= ... =worldwide

Single-Family Homes. Resales of single-family homes increased 7 percent to an annual rate of 4.26 million. Sales of condos and co-ops rose 2.1 percent to a 480,000 rate.


McDonald's posts sizzling 80% profit rise
http://www.breitbart.com/article.php?id ... _article=1


ALso some jobs are literally BOOMING.. See this.

[Paully_44]

A recession is when your neighbor loses his job.

A depression is when you lose your job.

Ok, that is good. you are still da'man. Now I know why you are the Boys Dean at camp.

[paul]

Micro$oft laying off 5K
HomeDepot laying off 7K
Starbucks laying off 1K
AT&T laying off 15K
Sprint laying off 8k

and the list just keeps growing.

my question is, at what point does this Recession turn into a Depression or does it?

Take a close look at the History channel and some of the presentations. We are in a world of hurt but far from what was seen over all in the great depression.

But rjjunior does have a good point

[JohnDB]

Micro$oft laying off 5K
HomeDepot laying off 7K
Starbucks laying off 1K
AT&T laying off 15K
Sprint laying off 8k

and the list just keeps growing.

my question is, at what point does this Recession turn into a Depression or does it?

Take a close look at the History channel and some of the presentations. We are in a world of hurt but far from what was seen over all in the great depression.

But rjjunior does have a good point

I think that today's events in Iceland...or was it Greenland... would rise to a hostoric event.

Their whole country is in chaos. The government is in shambles and is now defunct.
The banking system is also defunct.
The only thing there working is "Might making right"
That whole country is in complete chaos.

And we are whining due to 8% unemployment.

[dolfan]

JohnDB wrote:

And we are whining due to 8% unemployment

Paul Thorn says,

"I'm still here. I made it through another day.
I'm still here. That's more than some can say.
When I get down, I don't shed a tear.
I say, 'Glory hallelujah, thank you Jesus, praise the Lord, I'm still here'."

[Jennifer Smith]

My son lost his job... Or, at least he is laid off for now. It is

his first job, he is only 17!

[JohnDB]

It would take me some several days to try and put together and remeber the number of times I have been laid off from a job...or fired...or simply quit since that first one at age 15.

LOL...

I got laid off week before last (15th)
laid about all of last week
Tomorrow I have to report to work. 27th
Making more than I did at my last job...go figure.

It is a crazy world.
With one incredible God.

[Tim Elston]

It would take me some several days to try and put together and remeber the number of times I have been laid off from a job...or fired...or simply quit since that first one at age 15.

Now that I have a good job I have nightmares about quitting it and afterwards thinking how stupid it was to quit, then getting hired to it again, and forgetting not to quit again. Wierd. It's like the old nightmares I used to have about signing up for a college class and forgetting to attend it until the final exam. That was always a Greek class.

The only time I've ever been "let go" is when I stepped between my supervisor and an Iranian Baha'i refugee who was being verbally abused. I told him, "You are not going to talk to him like that as long as I am working here." I wasn't working there for very much longer. The Iranian refugee quit after he saw that I was fired for standing up for him, and he came to live with me for a few months since he no longer had a job. I drove him to Vancouver, B.C., where he was going to try again, and I never saw him again.

[pastorables]

Micro$oft laying off 5K
HomeDepot laying off 7K
Starbucks laying off 1K
AT&T laying off 15K
Sprint laying off 8k

Our region is not far from depression. I just found out this weekend that both Goody's and Toys R Us are closing down in our area.

pa

[Tim Elston]

Micro$oft laying off 5K

Palin announced a hiring freeze right when Micro$oft did its layoff. My supervisor would like to hire some of those Micro$oft programmers. Alaska has had a hard time recruiting technical staff. I told my supervisor to petition for an exception.

[pastorables]

Micro$oft laying off 5K

Palin announced a hiring freeze right when Micro$oft did its layoff.

Why is the purpose of a hiring freeze?

pa

[Jennifer Smith]

It would take me some several days to try and put together and remeber the number of times I have been laid off from a job...or fired...or simply quit since that first one at age 15.

LOL...

I got laid off week before last (15th)
laid about all of last week
Tomorrow I have to report to work. 27th
Making more than I did at my last job...go figure.

It is a crazy world.
With one incredible God.

You are so right...I felt a little badly for my son, but I also saw God's hand at work. He was making "a lot" of money with tips... but he also needs a chance to be a "child" for a little longer and when I was driving him to work on Thursday and the sun was shining, he wanted to go outside and play basketball so badly I could tell it hurt him to go to work! I told him if you have all the money in the world but are not able to enjoy it- (a biblical principle) what good does it do? So he is really okay.

[RamboPreacher]

...
my question is, at what point does this Recession turn into a Depression or does it?

essentially a depression is a long (and "more severe") recession. There really isn't any real definition. it's kind of like "religion". what does it mean to you?.

As I recall from my old university Econ. II classes, a depression is 3 or more years long, and a decline in the GDP by a certain percentage (arguable). it is difficult to say that the country is in a depression, when there are area's that don't even feel it as a recession.

trends are going that way, but we really have a long way to go, in my opinion. America has been through several depressions. in modernity, with a more global economy (whatever you want to make of that), it is more difficult to have an actual, lengthy depression.

hope that helps.