1. Recession or Depression?
... not accurately reflect what is happening in a specific state. The same problem exists when talking about a depression. An economic depression is a period of economic shrinkage that lasts for several years. Most Americans are familiar with the term because of the Great Depression beginning in 1929, but few people recall the details other than the stock market crash and the rush on the banks in October of 1929. What they fail to ... recall is that most of the 1930s saw massive unemployment, bread lines, and mass migration as people moved around ... ...
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