Looking Back: What is a Depression?

Sometimes it is fun to look back. I remember watching CNBC in March 2009, and it seemed every talking head was bearish - and many were predicting a depression. Below is an excerpt from one of a series of my more positive posts in 2009 (after being very negative for several years).  Not perfect, but clearly my outlook was changing. Those of us looking for the economy to bottom were definitely in the minority! In early March 2009, I wrote: What is a depression? It seems like the "D" word is everywhere. And that raises a question: what is a depression? Although there is no formal......(read more)

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