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Could we be heading for a global depression rather than ‘just’ a global recession?
I know nothing about economics at all, I am just curious. I know the loose criteria for it to be labelled a depression, but I’m just wondering what you all think the chances are of it getting that bad. I’m only wondering because previous recessions of the last 20 years have been things that could conceivably be bounced back from once things settled, but with such a huge shift globally, won’t it take a lot longer for this to settle (if that’s even the right word)?