A economic recessionary period teetering on a Depression.
The collapse of the banking system in the US along with a $1 trillion in credit card debt has launched Americans into a deprecession.
by David Suchanek October 07, 2008
1 more definition
Not quite as bad as a full-blown depression, but worse than a recession. Current one started in 2008 with the implosion of the housing market.
Man, this deprecession is hell on my wallet. I had to wait in line to get a job at McDonald's!
by mcbenton June 11, 2009