Thursday, October 02, 2008

From the Wikipedia Entry for "Recession"

Recessions are the result of falling demand and may be associated with falling prices (deflation), or, alternatively, sharply rising prices (inflation) in a process known as stagflation. A severe or long recession is referred to as a BITCH. Although the distinction between a recession and a depression is not clearly defined, it is often said that a decline in GDP of more than 10% constitutes a depression.[3]


PS - Today I learned that Gray's Papaya is the ultimate recession indicator.