Between Recession and Depression

In "Between Recession and Depression" it was discussed that this crisis can not be described as either. In time terms three years threshold is over; a double dip by definition means another three years at least. This takes us above depression rather than between recession.

How to define this is something, which needs to be thought, this blogger believes.

Maybe a new concept like stagflation needs to be defined. Inflation is part of the crisis in certain markets like commodities, however not in manufacturing as there are still idle resources.

Interest rates are still near zero levels. Monetary policy can not still be explained fully. Fiscally governnmets are at very high debt levels.