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You Call this a Depression?

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  • Posted By: lueman @ 12/01/2008 1:04:42 PM

    Someone once said if your unemployed it's a recession if I'm unemployed it's a depression.

  • Posted By: Jim G. @ 08/09/2008 4:47:04 PM

    I did not grow up in underpriveledged circumstances, nor am I miserable. I'm also reasonably well positioned if the economy continues to go in the direction I expect it to. That said, the don't-worry-be-happy approach won't solve the challenges the country is facing, although life as a bobble head must be blissful. For the last 10-15 years, any time there was a report on economic growth, they mentioned how it was driven by consumer spending. Hmmmm...but weren't real wages falling during that whole period? So...what drove the economy? Home equity. Hmmmm...how did that work out? And, by the way, now that the equity has been sucked out of 80% (my guess) of the houses in this country, what will fuel economic growth when the downturrn starts to level off? From an economic standpoint, I don't think either of the candidates the MSM and major corporations have blessed us with undo the damage that has been done to the economy in the short term. It will take decades.

  • Posted By: jrysk @ 07/28/2008 6:34:49 PM

    It willl get much, much, much worse, and then we will be justified in calling it a Depression.

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