There is a bit of gallows humour that goes something like this:
Q: What is the difference between a recession and a depression?
A: A recession is when your neighbour loses his job; a depression is when you lose yours.
Yesterday, the firm I work for laid off some 300 people. I worked with at least nine of those people. I consider three of them to be friends.
Somehow it feels like a depression to me.
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