P. Kalven

Recession, Not Depression

"A proposed definition for depression is a sustained recessionary period in which the population is forced to dispose of tangible assets to fund every day living" en.wikipedia.org/wiki/...)

"is a decline in real GDP exceeding 10%, and the other is a recession lasting 3 or more years" en.wikipedia.org/wiki/...)

"You can't build and economy on debt." Seems to be antecedent.

"By any traditional measure we are already in a depression." An inaccurate assumption in this comment from your critics, unless we're referring to state of mind. There I might agree given the vitriol I read everyday.

There is no doubt we're in hot water and I for one am happy to have you throw a little cool water into the bath Lok Sang Ho