Global depression? How long?

Chances are I don't live in the same country you do. I threw out the TV long ago, but every now and then I tune in to BBC radio. Their coverage of the economic woes of the past several months has been very good, but today for the first time I sensed a bit of anxiousness in the business reporter's voice. So excuse my naivet� when I ask -- are North America and Western Europe really facing a major economic depression? If you believe so, how long do you think it will last?