Will someone or can someone tell me, are we in a depression or a deep recession? Is there really a difference?

We are (it might be over) in a deep recession. It's officially over when the National Bureau of Economic Research says so.

There is a difference between a depression and what we're going through now, or what we went through about a year ago. We have much more control today over the economy because the standard knowledge back then was to just wait it out. Now when the exchange of money slows, we can increase the money supply. We can make loans cheaper, giving people an incentive to borrow. The problem? When people borrow more, loan rates increase.

Your other question addresses globalization. Globalization isn't as bad as it seems. Sometimes it's cheaper for U.S. Companies to produce in foreign countries. I have friends who work in Alice Springs, Australia. They have lived in Los Angeles, but are working abroad for an American Corporation because assets (plant, property, and equipment) are cheaper in foreign countries than here. Production costs are cheaper there too. Of course, freight-in adds to their operating expenses, but that company has deemed it worth it. And here's the kicker, if you invested in that company, you would be able to save more money. See my point?