"La récession c'est quand un voisin perd son emploi La dépression c'est quand vous perdez le vôtre Reagan c'est quand les économistes perdent le leur"

Simplified Meaning:

When someone in your neighborhood loses their job, it can be sad and troubling, but it feels more distant, almost like something happening to someone else. However, when you lose your own job, it’s much more personal and distressing, and it changes everything in your life. Life becomes much harder, and it’s not just a piece of news anymore; it’s your own reality. Imagine if we reached a point where even the experts, the economists who are supposed to understand and predict job trends, couldn’t keep their jobs. That would mean the entire economy is in such bad shape that no one is protected from job losses, not even the professionals who are supposed to be the most knowledgeable. Using this idea, if you're seeing other people struggling with job loss, it might be wise to start preparing yourself. Save some extra money, build new skills, or even think about having a backup plan. This way, if the tough times hit you, you’ll be more ready to handle them.