It's not only a credit crunch

[CelticMuscle]

it's a bodybuilding crunch.

Just in the last week, six of my bodybuilding friends online have told me that they are not going to compete this year because of the economy. In fact one of them called Chuck vlogged about it on YouTube (and sounded quite desperate). Have any of the members who compete in contests found the entry fees too expensive this year (or the cost of getting to a contest prohibitively expensive?) and if we have any economics people, could you explain what a recession and a depression is?

[AS2000]

Well, a recession is 2 quarters (6 months total) of negative growth in the economy. (GDP, usually.) Currently, it doesn't appear that the U.S. as a whole is in one, according to official numbers (which might be restated at some point.) We have weak growth overall, so no recession, although parts of the country may have local recessions (like California, where I'm at, which is arguably in a recession.) Of course, not being technically in a recession is small comfort when the prices of fuel and food are climbing rapidly, as they have.

A depression is just a really bad recession, from what I recall. I don't think it gets more specific than that, but I'm not really an economist. Just had a lot of Poli Sci, back in the day. :)

[abbraxis]

People have less and less money to spend on hobbies and excentricities. Things like competition fees and everything involved become too out-of-reach.

Gas and food is about all we can pay for now... and with so many people getting laid off, people have to work more to make up, which takes away free time. Time that may be used at the gym.

So no, this isn't a recession by definition... but it's damned inconvienient for everyone.