The phrase "under depression" is correct and usable in written English.
You can use it in a variety of contexts to refer to a state of feeling sad or depressed. For example: "After the death of his father, he has been under depression for several months."
But under depression conditions that has not been enough.
"I believe my daughter is under depression and heavily medicated.
And both methods break down completely under depression conditions, which is what we have right now.
One was interest rates: would large budget deficits drive rates up, as a classical view implied, or would they do no such thing under depression conditions?
Finally, a third implication involved inflation: would large increases in the monetary base produce soaring inflation, again as classicists of all kinds claimed, or do no such thing under depression conditions?
Friedman's claim that monetary policy could have prevented the Great Depression was an attempt to refute the analysis of John Maynard Keynes, who argued that monetary policy is ineffective under depression conditions and that fiscal policy — large-scale deficit spending by the government — is needed to fight mass unemployment.
As black Americans are crushed under Depression-level unemployment, the administration's policies are condemned by some conservatives as an outburst of Kenyan racial revenge against the white overlord.
To take a not at all arbitrary example, a standard macroeconomic approach, the IS-LM model (don't ask) told us that under depression-type conditions like those we're experiencing, some of the usual rules would cease to apply: trillion-dollar budget deficits wouldn't drive up interest rates, huge increases in the money supply wouldn't cause runaway inflation.
The stress tests will use computer-run "what if" situations to estimate what would happen to each bank under Depression-like conditions, with unemployment surging to 10 or 12percentt, for example, or home prices dropping 20percentt further, Treasury and Federal Reserve officials said.
Two nations are staggering under depression-level jobless rates: Greece, where the European sovereign debt crisis began, had a rate of 27.2 percent in January, the latest month for which data were available; and Spain, which had unemployment of 26.7 percent in March.
It's hard to avoid the conclusion that we're over-diagnosing or under-thinking depression in our TV characters.
