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OKdon
Senior Contributor

difference between a recession and a depression.

A recession is when your neighbor is going broke. A depression is when you and your neighbor are going broke.

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rawhide
Advisor

Re: difference between a recession and a depression.

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MMG900
Contributor

Re: difference between a recession and a depression.

Recession is when your neighbor loses his job, a depression is when you lose yours.   A recovery is when Jimmy Carter loses his job.  (something to that effect)  Ronald Reagan

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