Chris Goodrich

Unless you have lived under a rock for the past year, you will be well aware that the U.S. economy has been under tremendous pressure.  The media and academics have been bantering about recession or no-recession, but does it matter?  There is an old saying that a wise man once told me about the difference between a depression and a recession.

“A recession is when your neighbor loses his job, a depression is when you lose yours.”

This statement could not be any more realistic with today’s markets and struggling economy.  Forget about the academic definition of recession and just look around and you will quickly notice that our economy is not what it was just one year ago.

What is the difference if we are in a recession or not?  Is our economy struggling?  If so, then let’s worry less about declaring the recession and worry more about fixing the recession.