Recession depression drought, what’s the difference?
Are you at a crossroads?
In one direction lies the comfort of the familiar, where change happens to you; in the other lies conscious evolution, where you shape your transformation and overcome tough times.
Many people find wanting to live in the present frustrating. They are told that life renews itself in the present moment and that the burden of the past disguises the joy that is always available in the present. The problem is that these great promises are hard to translate into personal experience.
You need to probe a little deeper to see what is required. There is wisdom in the now that isn’t revealed to the mind. Constantly occupied with thoughts, feelings, and sensations, our minds give the impression that it is already present, an illusion, and we can do something about it by removing the stressors.
Is there a difference between recession, depression, and drought?
In prolonged drought, agriculture and all those associated with it suffer from recession and depression. They might as well be in a recession, even a depression, when it doesn’t rain and a prolonged drought, which might last for many years, emerges.
Most financial people agree that a recession happens when the economy shrinks for at least two fiscal quarters or six months. In Australia, recessions are measured by Gross Domestic Product (GDP), which represents the total value of goods and services produced within the country.
A recession lasts at least six months when the number goes down instead of up. When GDP climbs back to prerecession levels, the recession is over, or is it?
It doesn’t matter whether it’s a recession, depression, or drought.
Should you fix critical things first if you are trapped between flagging sales, employee turnover, and unhappy customers? Every issue might seem urgent, but you cannot address all of the problems at once.
Businesses that continue to go in endless circles, worrying about whether we are in a recession or depression, putting out ‘urgent fires’, and prioritising the wrong things are asking for trouble.
Prolonged droughts can be classed as a recession or depression for those involved. Be careful of the opinions you notice, as a recession can’t be defined until at least half a year has passed. Depression is difficult to determine until after it has happened.
I know what it’s like to be wiped out by prolonged drought. If you would like a copy of my book, Startup Smart and Sustain a Clever Business, please get in touch with us at https://faqsupport.com.au/contact.
Quotable quotes.
“It’s a recession when your neighbour loses his job; it’s a depression when you lose your own”. Harry Truman
“What are the odds that people will make smart decisions about money if they don’t need to make smart decisions, if they can get rich, making dumb decisions”? Michael Lewis