Economy Caught in Depression, Not Recession: Rosenberg

From: CNBC

Economy Caught in Depression, Not Recession: Rosenberg
http://www.cnbc.com/id/38831550


Positive gross domestic product readings and other mildly hopeful signs are masking an ugly truth: The US economy is in a 1930s-style Depression, Gluskin Sheff economist David Rosenberg said Tuesday. . . .

. . . Rosenberg calls current economic conditions "a depression, and not just some garden-variety recession," and notes that any good news both during the initial 1929-33 recession and the one that began in 2008 triggered "euphoric response.". . . .