David Rosenberg : Economy Caught in Depression, Not Recession

[??????????]

http://www.cnbc.com/id/38831550

Writing in his daily briefing to investors, Rosenberg said the Great Depression also had its high points, with a series of positive GDP reports and sharp stock market gains.

But then as now, those signs of recovery were unsustainable and only provided a false sense of stability, said Rosenberg.

Rosenberg calls current economic conditions "a depression, and not just some garden-variety recession," and notes that any good news both during the initial 1929-33 recession and the one that began in 2008 triggered "euphoric response."

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Duh.

[Beet]

At this point, it's still semantics.

Interestingly enough, depression itself was a euphemism. In the early stages of the Great Depression, instead of a "panic", it was said that we were in a "mere depression".

[??????????]

At this point, it's still semantics.

Interestingly enough, depression itself was a euphemism. In the early stages of the Great Depression, instead of a "panic", it was said that we were in a "mere depression".

Depression isn't even a official term is it?

[Sasquatch]

Politicians will never say the "D" word.

Never.

[Judäischen Volksfront]

At this point, it's still semantics.

Interestingly enough, depression itself was a euphemism. In the early stages of the Great Depression, instead of a "panic", it was said that we were in a "mere depression".

Depression isn't even a official term is it?

I believe there's a definition of three years of non-stop GDP contraction OR a 10% peak to trough contraction. By that definition, depression is a very common occurrence around the world.

[opebo]

So, States, does that mean you and Rosenberg accept the necessity of the cure?  Namely, enormously increased government spending and control in the economy.