What Is Your Definition Of An Economic Depression?

[John Galt incarnate!]

Here is the definition of an economic depression from Investopedia.

"In economics, a depression is commonly defined as an extreme recession that lasts three or more years or leads to a decline in real gross domestic product (GDP) of at least 10 percent."


My definition of an economic depression is based on Investopedia's definition.

I define an economic depression  as  at least a one-year  decline in real GDP of 10% or more.

What is your definition?

If you are an economist, financier, banker, stock-market professional, etc., and you have your own definition please post it.

[Bloop Bloop]

If my personal income drops by more than 20% gross (10% net) it's a depression!

[Buffaloski Boris]

A 10% or more drop in GDP over at least one quarter.

Then there is the Time Honored definition: a recession is when your neighbor loses their job. A depression is when you lose YOUR job.