Top Definition
The current economic downturn, which is declining quickly toward a depression. No breadlines yet, like in the *Great* Depression, but still, it is significant - let's say *Pretty Good*
(In the year 2020)

Joe History Teacher: The Pretty Good Depression started in late 2007 as wild speculation in the housing markets fueled by artificially suppressed and lax credit came to a crash, lasting until through 2011. Unemployment didn't reach Great Depression levels but did peak at over 15% in the United States.
by Fraggle Rockstar March 25, 2009

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