“depression - a decline in real GDP exceeding 10%, or
a recession lasting 2 or more years.”
////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////
It’s rather arbitrary but I would probably go along with it if the official figures bore a little more resemblance to reality. The way they figure it if everyone went to work for the government we would have the biggest boom in history.
Regardless what the US does....A healthier U.S. and cheaper energy “won’t suffice to actually accelerate the growth or the potential for growth in the rest of the world,”.....“If the global economy is weak, on its knees, it’s not going to help,”..... Lagarde in remarks previewing the IMF’s latest forecasts for the global economy due out on Monday.