The financial markets generate a lot of number on a per second basis. There are people who have made it a profession to convert this information into trends, buy-sell signals, charts and pivot tables. Over the last 18 years of financial journalism, I have realised that every number has a story to tell. And these numbers as a trend normally never lie. I am forever looking for these trends.
As one nation after the other slips into recession, dark memories of the Great Depression of 1929 are coming back. One wonders whether this free-fall will only end in a ‘mother-of-all’ depression. But then, what is a depression? Someone said recession is when your neighbour loses his job and depression is when you lose yours. Plausible, but there are more serious descriptions for those willing to consider them.
All Fall Down
Investopedia defines depression as “a severe and prolonged recession characterised by inefficient economic productivity, high unemployment and falling price levels.”