[jsn117]

The terms "depression" and "recession" aren't just catch alls, they have actual definitions. And "we" (depending on the country, i'm assuming USA) are not in either.

[paulpauper]

depression/recession has now been redefined to mean 'economy is not how we want it to be'

[AnimalMuppet]

No. They haven't been redefined. They are used that way by people who are ignorant of the definitions, careless, or trying to mislead.

[venomsnake]

Depends. If you look at the bottom 90% and their economy - we are in depression. Or extremely deep recession. The top 10% are both capturing the lion's share of new growth and siphoning wealth from the rest.

[dcd0101]

No. It doesn't depend. As he said, those words have actual definitions.

[venomsnake]

Yeah but USA is having two economies right now that are masked as one in statistics.

[sanderjd]

Put another way: the proposition is that the current definitions of those words might not be as useful as they once were because assumptions implicit in them have changed.