Double dip recession + 2008 great recession = Depression?

Discussion in 'Economics' started by kxvid, Aug 6, 2011.

  1. kxvid


    What people don't seem to be talking about, is the cumulative effect of having 2 back to back recessions on GDP. GDP still has still not recovered to pre-recession levels; I have read GDP is still >5% below pre-recession levels. If another recession strikes, even if it is not as severe as the last the net effect could easily be a depression.

    Short version:
    If there is a double dip there easily may be a depression due to the economy still not having recovered from the last recession's blow to GDP.
  2. They don't want to admit it.