Posterous theme by Cory Watilo

The difference between recession and depression

It's hard out there right now, no question. In many ways though, it feels as if we are talking ourselves deeper and deeper into a problem.  Our fascination with this recession has become akin to the morbid appeal of a motorway wreckage.  And the more we focus on the wreck, the less attention we give to the road ahead.

Yesterday we conducted a creative workshop with one of our key clients.  As part of this process we took a look at our favourite adverts, both old and new, in an effort to distill out what makes a great idea.  One of those adverts was this standout campaign from Budweiser, launched in 2001.  

In the eight years that followed, America entered into some of the most turbulent times in living memory.  Many Americans couldn't understand what had become of their country, and the rest of world was at best bewildered, at worst engaged in war. Towards the end of last year, the boys from the Bud commercial were back on air, but with something a little different to say.

And that brings me to the title of this post.  In my mind, the difference between recession and depression is the ability to recognise that the situation is temporary. Financial markets are cyclic, much like every other system on the planet.  We have not reached a final destination, we're still very much on the ride. There will be a return to prosperity, there absolutely is a way forward and if we can lift our sights back towards the road ahead then we'll all be in a better position to take advantage of the numerous opportunities that are certain to make themselves apparent. Put in place the necessary strategies to manage, look out for the people around you, make good use of your social and professional networks and above all else, keep looking forward.