Monday, October 13, 2008

Economic Terms Put Simply

The best line I’ve heard this week:

A recession is when you have to tighten your belt; a depression is when you have no belt to tighten; but if you have no pants to hold up in the first place, then it’s all out panic!

There you go – you need no longer be confused.


Mulling Over My Thoughts said...

something i read on the freakonomics blog...

"So, if you are not employed by the financial industry (94 percent of you are not), don’t worry. The current unemployment rate of 6.1 percent is not alarming, and we should reconsider whether it is worth it to spend $700 billion to bring it down to 5.9 percent."

divinediu said...

:D :D

good one.

Saltwater Blues said...

Nice way to put it! :) what's our boy upto these days?