Payday loans are useful when you’re stuck in a situation that requires quick cash that you may not have until your next paycheck. During a recession like the one America is currently mired in, it’s good to know they’re available when necessary. But what’s a recession, or a depression, for that matter? It all depends upon whom you ask. I checked out Yahoo Answers recently, and I had to laugh. The “Asker” wanted to know the difference between recession and depression, and she (the avatar is female) wanted the information in “girly terms.” I’m not sure what girly terms are, but the Asker received a very straightforward response. The American economy is analyzed by quarter. When production is hi...

Payday loans are useful when you’re stuck in a situation that requires quick cash that you may not have until your next paycheck. During a recession like the one America is currently mired in, it’s good to know they’re available when necessary. But what’s a recession, or a depression, for that matter? It all depends upon whom you ask. I checked out Yahoo Answers recently, and I had to laugh. The “Asker” wanted to know the difference between recession and depression, and she (the avatar is female) wanted the information in “girly terms.” I’m not sure what girly terms are, but the Asker received a very straightforward response. The American economy is analyzed by quarter. When production is high, it’s considered economic growth. Three consecutive quarters (nine months) of decreased production is considered a recession. A depression occurs when a recession is deep and long. Some common characteristics of a depression include long-term unemployment growth, low prices and low levels of trade and investment. So when it comes to recession and depression, understand that one is bad and the other is worse. If you need a payday loan when things get rough, don’t be afraid to try. Be responsible and you’ll make it through your short-term financial difficulties.

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