In your opinion, is this a recession or a depression?

Question

In your own opinion, given the state of the economy and the foreclosure rate, among other factors, what do you think?

Answer 1

We're in another recession (though they're still trying to deny it).

Answer 2

We've been in a recession for a long time now and thank God this is an election year and we can get someone else in office because if we had one more term of GWB, we would all go down the tubes.

Answer 3

a deppression with out doubt. the way gas, food, housing is being manipulated by the administration, is no different in it's result then rationing of everything during w.w. 2. look at the job market. i could go on and on, get the jist.

Answer 4

Recession - It will be depression soon when nobody at all can find a job....

Answer 5

My house foreclosed, my pockets empty, and it's depressing. Gotta go with depression

Answer 6

By definition this isn't even a recession.  It does seem like it is, but the real GDP has managed to increase.  We have yet to have 2 consecutive quarters of negative real GDP growth.  But then again, some Harvard economists said we are in one, and they would know better than me =P