A depression happens when a recession is deep and goes on for a long time. The accepted definition of a depression is when the economy of a country stays in recession for at least three years and the GDP shrinks by more than 10 percent. In the US at current writing a depression only happened during the 1930s. The economic disruption caused by the Coronavirus may result in a depression of the US and many other economies.

Share and Enjoy !



Leave a Reply

Your email address will not be published. Required fields are marked *