depression

Recession? Depression? Can We Call The Whole Thing Off?

by Eugene S. Melchionne, Connecticut Bankruptcy Lawyer

A recession is loosely defined as a period of two or more financial quarters where the Gross Domestic Product declines.  It is truly difficult to measure; difficult to determine when a recession starts, and difficult to determine when it ends.  Until 1929, all recessions were generally known as depressions.  By contrast, depressions are now measured [...]