Politics choke of Chavez and their Arab allies, to keep the production of crude oil without increases, the increasing international demand that increases its price, also affects the Venezuelan people and Latin Americans with limited resources, becoming even poorer. If Americans reduced their purchasing level, not you can buy items that export them, and even less to devote himself to charity. In a question-answer forum Physicians Committee for Responsible Medicine was the first to reply. A recession in the United States, affects the whole of humanity. Those who are happy to see the Colossus reeling, not realize that if it falls will do so above all. Not even the powerful economies will be free of problems, because its largest buyer of products with high added value, is in North America. Some consider that United States is in recession. What does that mean? There is an old joke that says: A recession is when your neighbor loses his job. A depression is when you lose your job.
There is not a universal definition that pleases everyone. Macroeconomics considers that recession is a period of decrease of GDP of economy, of duration equal to or more than one year. This definition does not really like economists, for two reasons. First, because not takes into account changes in other variables. For example ignores the unemployment rates and consumer confidence.
Second, use quarterly information makes it difficult to locate precisely when the recession begins or ends. What is a depression? Before the great depression of 1930, any shift in the growth of the economy was considered a depression. The term recession emerged after that period to differentiate it from the 1930. This leads to a simple definition, in which a depression is a recession that lasts longer and has one higher in commercial activity decline. To adequately differentiate a recession of a depression, there to observe the changes in GDP. A depression is when GDP declines more than 10 percent. A recession is less severe. original author and source of the article.
