Recession, Recession, Where's the Recession? By Larry Elder
"It's a recession," said former President Harry Truman, "when your neighbor loses his job; it's a depression when you lose yours."
For people facing home foreclosure, job loss or the struggle of paying high gas prices, the definition a recession seems immaterial and insignificant. True.
Pedestrians are reflected on an electronic board displaying Japan's TOPIX index in Tokyo April 14, 2008. The Nikkei stock average fell 3.1 percent on Monday, with exporters such as Canon Inc hit by a stronger yen and further evidence the United States may be in recession. REUTERS/Kim Kyung-Hoon (JAPAN)
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