The Credit Crunch explained

[caddyman]

Recession (n): a temporary depression in economic prosperity.

Depression (n): an economic condition characterised by substantial and protracted unemployment, low output and investment.

Or, in language for the layman, a recession is when a manufacturer finds that sales have consistently dropped from ten items to five. A depression is when the same manufacturer hankers for the good times when they could sell five items...

Comments

Sayings

[ruletwo.livejournal.com]

"A Downturn is when a neighbour loses their job, a Recession is when you lose your job, a Depression is when your wife loses her job"

[ladkyis.livejournal.com]

Any and all caused by the fact that this country has got rid of its nasty dirty big-carbon-footprinted manufacturing and is now a clean green unemployed country. This is a surprise to some people