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Wednesday, April 2, 2008 12:00 AM

The Great Depression: The sequel

Is it coming to a soup kitchen near you? Here's how we'll know if the current recession is turning into something much worse.
By Andrew Leonard

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  • Wednesday, April 2, 2008 07:43 AM

    Depression

    Not the same situation.

    Don't we need two quarters of negative growth for a recession. We haven't reached that milestone yet, never mind a depression.

    All I know is beach houses on the shore are down 40% from last year, meaning someone other than a hedge fund managers can afford to sit near the ocean. That's a good thing!

    —picardian Read picardian's other letters

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