We are in a Depression. Read on.

[The Leader]

No, it isn't difficult to comprehend. It is, however, difficult for you to comprehend other people and what they write. It is also difficult for you to comprehend what the difference between a recession and a depression is.

[TheCoolinator]

Originally Posted by The Leader

No, it isn't difficult to comprehend. It is, however, difficult for you to comprehend other people and what they write. It is also difficult for you to comprehend what the difference between a recession and a depression is.

Ok, Shall we go to the dictionary then?

Recession:

A significant decline in activity spread across the economy, lasting longer than a few months.It is visible in industrial production, employment, real income, and wholesale-retail trade. The technical indicator of a recession is two consecutive quarters of negative economic growth as measured by a country's GDP.
http://dictionary.reference.com/browse/Recession

Depression:

A severe and prolonged recession characterized by inefficient economic productivity, high unemployment, and falling price levels.

http://dictionary.reference.com/browse/Depression

The financial crisis which struck the United States and the world in September and October 2008

2008-2010 is more than a "FEW MONTHS".

Ahhh.....swoosh!