"The word “depression” frightens a lot of people. It should. But, we are in one now. Our leaders just invented the word “recession” to take our minds off what’s really happening. Murray Rothbard in his book, America’s Great Depression noted that when the economy crashed again in 1937, Franklin D. Roosevelt and his advisers didn’t want to use the “D” word so they came up with “recession.” Until that time there were no “recessions.” Now a “recession” is just a mini-depression. Since we, in my opinion, have not yet recovered from the Crash of 2008, we are in a depression."
