What will happen during depression?

What will happen during depression?

What will happen during depression?

A prolonged, long-term slowdown in economic activity in one or more economies is referred to as an economic depression. It is a more severe economic downturn than a recession, which is a regular business cycle slowdown in economic activity.

Economic depressions are defined by their length, abnormally high unemployment, decreased credit availability (often due to some form of banking or financial crisis), shrinking output as buyers dry up and suppliers cut back on production and investment, increased bankruptcies, including sovereign debt defaults, significantly reduced trade and commerce (especially international trade), and highly volatile relative currency value fl (often due to currency devaluations). Price deflation, financial crises, stock market crashes, and bank collapses are all prominent features of a depression that aren’t seen during a recession.


The term “depression” is most commonly linked with the Great Depression of the 1930s, but it was first used much earlier. Indeed, President James Monroe referred to an early major American economic crisis, the Panic of 1819, as a “depression,”[6] and President Calvin Coolidge referred to the economic crisis immediately preceding the 1930s depression, the Depression of 1920–21, as a “depression.”

Financial crises were typically referred to as “panics” in the 19th and early 20th centuries, such as the “major” Panic of 1907 and the “minor” Panic of 1910–1911, however the 1929 crisis was more frequently referred to as “The Crash,” and the term “panic” has since fallen out of usage. The phrase “The Great Depression” had already been used to refer to the era 1873–96 (in the United Kingdom), or more narrowly 1873–79 (in the United States) at the time of the Great Depression (in the 1930s), which has subsequently been called the Long Depression.

For Depression Therapy and Treatment For Depression in Oklahoma City OK contact New Vision Counseling and Consulting at (405) 921-7776

The 1934 book The Great Depression is credited with ‘formalizing’ the phrase,[6] though US president Herbert Hoover is widely credited with ‘popularizing’ the term/phrase,[6][7] informally referring to the downturn as a “depression,” with such uses as “Economic depression cannot be cured by legislative action or executive pronoun” (1931).


The classification of any era as a “depression” is difficult due to the lack of an agreed-upon definition and the significant negative overtones. Regional crises were commonly referred to as “depressions” from the early nineteenth century until the 1930s, as well as the more widespread crises of the 1870s and 1930s, but economic crises since 1945 have been referred to as “recessions,” with the global crisis of the 1970s referred to as “stagflation,” but not a depression. The 1870s and 1930s are the only two eras that are popularly referred to as “depressions” today. [8]

To some extent, this is merely a stylistic change, akin to the fall in the use of “panic” to refer to financial crises, but it also reflects the fact that the economic cycle has been more moderate since 1945 in the United States and most OECD countries (though not all).

Since 1945, there have been numerous periods of extended economic underperformance in specific countries/regions, as listed below, however labeling these as “depressions” is debatable. The 2008–2009 economic cycle, which included the most serious global crisis since the Great Depression, has been referred to as a depression on occasion,[8] but this phrase is not frequently used, and the event is instead referred to by other labels, such as the “Great Recession.”

Depressions of note

During the General Crisis, the world’s worst Great Depression ever occurred. The Ming Province of China went bankrupt, while the Stuart Monarchy was fighting civil war in Ireland, Scotland, and England on three fronts. Based on the pervasive misery in society at the time, English philosopher Thomas Hobbes developed the first known explanation of the need for a universal Social Contract in his 1652 book Leviathan.

New Vision Counseling and Consulting
11209 N May Ave
Oklahoma City, OK 73120
(405) 921-7776
HCMJ+VM Quail Creek, Oklahoma City, OK
35.5846, -97.5683

Leave a Reply

Your email address will not be published. Required fields are marked *


Andrew BrownAndrew Brown
11:05 06 Feb 24
Shawn called me directly and sought out a resolution with me for a recent poor experience I had. He showed genuine care and consideration over the phone, and demonstrated he truly cares about the clients that come here and wants everyone to get the help they need. That's how it needs to be in any place helping others in God. God bless.
Andy EatonAndy Eaton
21:00 11 Oct 23
I totally recommend Josh Rhoades. He's helped me overcome a lot of anxiety and work-related stress and the effects it's had on me this year. For any guys out there wondering if they should go to counseling, you should definitely give Josh and New Vision a try.
Mark VonFeldtMark VonFeldt
12:04 23 Aug 23
I admit I didn't think I needed counciling but when I hit a tough period in life. Caleb McKean at New Vison Counseling was extrodinary in helping me out and providing encourgement, prespective and confidence. In addition, it was great seeing Shawn McGuire who consitantly provided an uplifting personality that’s just contagious.
Elizabeth ProtzmanElizabeth Protzman
11:41 24 May 23
My husband and I just wrapped up counseling with Shawn. And if you told me 6 months ago our family would be how we are now, I would have been in total disbelief. Shawn’s approach to counseling is next level and took us to new places we never thought that we could experience freedom and he put a light on places we never knew were still dragging us down.My husband (before counseling) had past trauma that weighed him down so heavily that his negative self talk was taking over his mental life. He was completely unable to be social anywhere, see positivity in anything, and talked with a super meek voice because he didn’t see worth in himself. We thought that “this is just his personality”, but Shawn was able to uncover the trauma that was holding him back and helped him break free of it. He now speaks with a voice to be heard and even he engages in social situations!I went through a terrible health scare while we were going through sessions. My optometrist thought that I had a tumor or fluid build up in my skull. Shawn helped me navigate all of the feelings that I kept shoving down. On my second session of talking about this medical situation, we really got to the root of my stress and behavior in this situation and in life. I felt a ton of weight lifted off of me in that moment just by digging out every root in my heart that wasn’t welcome there. Later that day (a Thursday) I had my MRI scans and that Sunday I woke up headache/migraine free for the first time in four months. Monday I got the news that nothing was there. I truly believe that God did a healing work in that therapy session. A physical healing of my body and a spiritual healing of my mind.Through all of this Shawn was not only there for just our counseling sessions, but when I was going through all of the medical stuff he would check in and see how everything was going. He recommended for my husband to go to a camp that absolutely played a part in changing my husband’s life. And all that I’ve shared is only the surface of all of the healing we received. I would have to write a novel for the rest, lol.If you’re looking for healing and willing to show up and put in the work…Shawn will help you get there.
Steve RodriguezSteve Rodriguez
14:25 06 May 22
New Vision Counseling and Consulting saved my marriage as they helped and are helping me deal with my issues with depression and anxiety. I have been taught new methods of dealing with these issues and they are life saving. I have enjoyed my experience with Shawn Maguire, the best therapist I could ask for, and feel this place is a Godsend. I never thought therapy would work for me but I was wrong and wish I had come here sooner. Excited for what the future holds.

Easy to Get Started
Click an Option Below

Our Location

11209 N May Ave
Oklahoma City, OK 73120

(405) 921-7776