Someone has defined the difference between prosperity, recession, and depression like this:

During prosperity you are annoyed because the dog and cat won't eat the expensive canned food you buy for them.

In a recession you are delighted that the dog and cat won't eat the expensive canned food. You hope they remain finicky until things get better.

In a depression you begin to look thoughtfully at the dog and cat.

For the past decade we have experienced a time of unequaled prosperity in our land--but recent events have been troubling. Massive lay-offs. Plunging stocks. Loss of consumer confidence. Thousands of our fellow citizens are in the midst of their own private economic downturn--the poor, of course, and those who have found themselves downsized out of a well-paying job in the midd…