12.17.2008

When My Recession Becomes Your Great Depression:


Amity Shales reports in Bloomberg, "The difference between recession and depression is simple. Recession, goes the saying, is when you lose your job; depression is when I lose mine."

These days recession is starting to feel like depression to a lot of people. Recession starts to feel like depression every night at General Motors Corp. when they turn off the escalators and turn down the lights in the faint hope that one more person will get to keep his wage and benefits one more day.

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