Well, hello again! To be honest, I sort of feel like one of those ridiculous weather forecasters standing on the dock as a hurricane whips through. Yes, economic numbers are bad. Yes, it’s likely to get worse before it gets better. At this point, the likelihood we’re headed into a recession is basically a given. Why aren’t we there already? Because a “recession” is generally described as a period of two consecutive quarters when GDP goes down, simply put, too little time has passed to make it official. There have been 33 recessions in the US since 1854, with 4 occurring after 1980. So, while they’re not a whole lot of fun,they are a pretty normal part of the business cycle. But lately, you may have heard another word floating around. Depression. Oh my...! OK OK, before we start freaking out, let’s get a clear picture of what a depression actually looks like and see what history has to teach us about softening the blow. Let’s start with the text-book definition of what...
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