When Is a Recession a Depression?

I’ve been wondering that for a while. It’s getting harder to see the difference.

Yesterday awesome Andy shared this link from Daily Kos which makes it even more real, with a Pennsylvania House member’s explanations of exactly how close we’ve come to global financial ruin. And it links to his interview (below).

I’m not sure how much of an expert this guy is, but I have to say I’m terrified.