From Newsgroup: nz.politics
On Tue, 22 Jul 2025 13:20:36 -0400, Governor Swill wrote:
Depression - recession plus deflation
<
https://en.wikipedia.org/wiki/Economic_depression>, rCLDefinitionsrCY:
Generally, periods labeled depressions are marked by a substantial
and sustained shortfall of the ability to purchase goods relative
to the amount that could be produced using current resources and
technology (potential output).[3] Another proposed definition of
depression includes two general rules:[4][5]
1. a decline in real GDP exceeding 10%, or
2. a recession lasting 2 or more years.
Further above from that:
Other signs of depression are prices deflation, financial crises,
stock market crash or even bank failures, or even specific
behaviour of economic agents or population, that are also common
or also non common elements of a depression that do not normally
occur during a recession.
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