http://blownmortgage.disqus.com/Mortgage and finance with a sarcastic bentenSat, 22 Nov 2008 02:19:30 -0000http://www.blownmortgage.com/what-is-the-technical-definition-of-%e2%80%9cdepression%e2%80%9d#comment-3951152<p>Collateral, I wasn't pointing the finger at you. Constantine didn't fully upload the article. He added more. You're cool, my finger pointing was at HIM!!!</p>DonSat, 22 Nov 2008 02:19:30 -0000http://www.blownmortgage.com/what-is-the-technical-definition-of-%e2%80%9cdepression%e2%80%9d#comment-3936010<p>i think i wasn't clear in my comment. i was trying to say you were right and I agree with your point. it probably read like i was making fun of you. apologies.</p>CollateralDamageFri, 21 Nov 2008 12:49:44 -0000http://www.blownmortgage.com/what-is-the-technical-definition-of-%e2%80%9cdepression%e2%80%9d#comment-3929568<p>Um, you want to ADD those. It equals 29.3 percent. No we weren't in a "recession", we were in DEPRESSION.</p><p>HELLO, S &amp; P was off 89% from it's high and unemployment was somewhere between 25 and 33 percent.</p><p>"So there really is no technical definition for a depression." Uh, yes there is, just like there is a techincal definition of a recession, which is two contiguous quarters of contracting GDP.</p><p>Riduclous comment.</p><p></p>DonFri, 21 Nov 2008 02:50:26 -0000http://www.blownmortgage.com/what-is-the-technical-definition-of-%e2%80%9cdepression%e2%80%9d#comment-3916209<p>technically, you're right. :D</p>CollateralDamageThu, 20 Nov 2008 12:33:54 -0000http://www.blownmortgage.com/what-is-the-technical-definition-of-%e2%80%9cdepression%e2%80%9d#comment-3916075<p>Technically, a depression occurs when the economy contracts 10%. In the early 30's, we contracted 30%, thus a Great Depression. This country has seen many depressions, but the one in the 30's was oviously the worst. I think we contracted 4 or 5% in the recession of '82 or '83.</p><p>We'll be lucky if we don't go further than that this time.</p>DonThu, 20 Nov 2008 12:28:27 -0000