Afternoon Coffee: Recession vs. Depression, Boeing Signs $14.7bn United Deal, Euro Hits Two-Year Low

A historical comparison.
Did The Great Recession Bring Back The 1930s? -- The long economic downturn that began in late 2007 came to be known at the Great Recession –- the worst period since the Great Depression of the 1930s. Even though both events were momentous enough to earn the word "great" as a modifier, they really are not comparable, according to recent research by economist Mark Vaughan, a fellow at the Weidenbaum Center on the Economy at Washington University in St. Louis. "It's now clear the Great Recession was the worst downturn of our lifetime -- the worst since the Great Depression," Vaughan said. "But in terms of human suffering, it pales in magnitude" with the 1930s.

Boeing and United Airlines announce $14.7bn deal -- US planemaker Boeing has announced an "historic" order from United Airlines for 150 Boeing 737s, in a deal worth up to $14.7bn (£9.5bn). The order comprises 100 of the new Boeing 737 Max 9 planes and 50 Boeing 737-900ER aircraft. Boeing said the deal meant it had now received more than 10,000 orders overall for aircraft from the 737 family.

European vacation, anyone?
Euro Falls to Two-Year Low -- The euro fell below $1.22 for the first time in two years, continuing its July slide, while the yen was broadly stronger after the Bank of Japan held off from expanding its asset-purchase program. The euro has hit a string of two-year lows in recent days after the European Central Bank and other policy makers around the world cut interest rates last week in a sign of concerns about the state of the global economy. Poor Australian jobs data and an interest-rate cut by the Bank of Korea, both Thursday, fed those worries ahead of a stream of Chinese data on Friday.

Non-procurement related (yet important) question worth sharing of the day.
What Really Happens When You Get Sucked Out of an Airlock -- Death by vacuum has become a hallmark of modern space cinema. 2001, Total Recall, Outland, Armageddon, every one of the Aliens series--no movie set outside Earth's atmosphere is complete without somebody getting sucked out of an airlock, tearing their suit, or otherwise being subjected to the vacuous extremes of space. However, every film seems to find new and inventive ways for people to expire. Some go by explosive decompression--Quaid had his eyes nearly burst in Total Recall, and the construction worker from Outland had his head explode outright. Still, others simply flash freeze into meat Popsicles (a la Event Horizon). So which is it? Well, a bit of both, actually.

- Sheena Moore

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