Is the US in a Depression?

[georgephillip]

Not according to a Wiki definition relating to any economic downturn where real GDP declines by more than 10% or a recession that lasts longer than two years.

There is an argument that when the Fed buys $600 billion worth of US Treasuries (QE2) it is effectively sending investors into riskier assets like stocks and commodities.

"Is there an element of class warfare in the policy?"

"You bet there is. It's a direct subsidy to the investment class while workers face higher prices on everything from gasoline to corn flakes."

"While rising headline inflation (gas and food) is painful for workers and people on fixed income, it actually intensifies the downturn by diverting money from other areas of consumption. So, discretionary spending falls and the economy begins to contract.

"It's more proof that we're in a Depression."

Author Mike Whitney makes the claim the US economy is essentially comatose, and the Fed has been QE-ing strings around its hands and feet to produce marionette movements; however, with no props or support system, "the economy would drop to its knees, gasp for air, and exipire. Dead."

Mike Whitney: Hyperinflation? No Way

How would things change if the US dollar loses its status as the global reserve currency?

 

[Avatar4321]

It will get ugly. Very ugly. That's how it will change.

And it's something we should be seriously concerned about.

 

[LilOlLady]

No, we are in a state of temporary stupidity. It will pass without too much being done about it.

 

[RachelMadcow]

Yes we are depressed that democrats have stolen our grankids future and gave it to democrat interests calling it a stimulus plan.


Poverty up
Unemplyment high
Foreclosures up
Gitmo Open
Gas prices up
Democrat Lobbyists control washington
Earmarks on every bill
Illegal Libyan wars that cost 40 million per day borrowed from China
More division than anytime since the civil war


Of course we are depressed


Democrats create ghettos



and are right on track


Bankrupting the country





Democrats are scum

 

[matty]

Not according to a Wiki definition relating to any economic downturn where real GDP declines by more than 10% or a recession that lasts longer than two years.

There is an argument that when the Fed buys $600 billion worth of US Treasuries (QE2) it is effectively sending investors into riskier assets like stocks and commodities.

"Is there an element of class warfare in the policy?"

"You bet there is. It's a direct subsidy to the investment class while workers face higher prices on everything from gasoline to corn flakes."

"While rising headline inflation (gas and food) is painful for workers and people on fixed income, it actually intensifies the downturn by diverting money from other areas of consumption. So, discretionary spending falls and the economy begins to contract.

"It's more proof that we're in a Depression."

Author Mike Whitney makes the claim the US economy is essentially comatose, and the Fed has been QE-ing strings around its hands and feet to produce marionette movements; however, with no props or support system, "the economy would drop to its knees, gasp for air, and exipire. Dead."

Mike Whitney: Hyperinflation? No Way

How would things change if the US dollar loses its status as the global reserve currency?

It didn't get to be a pretentious global debate for nothing; the question being raised over and over is a fair indicator all the symptoms are present. The catchy phrase Great Recession saw notoriety for a bit.

You can find design--purposeful and not--for classwarfare in many a venue all around us today and more avenues en route where that came from.--Oh that it were limited to places like here. Such a disaster is finally only a further ripening climate for creating yet more of the same divide--mother of all vicious circles.

The dollar has already taken such a dive, to the detriment of us all, I hate to think of humbling it any further, lol, omg.

 

[Rozman]

I agree it's not officially a Depression,but I bet a whole bunch of Americans are depressed and with good reason.I don't feel good about this country's future at all right now.The stock market is up but is that a false indicator,another bubble about to burst.If the market nose dives again it's all over folks.

 

[matty]

No, we are in a state of temporary stupidity. It will pass without too much being done about it.

I've never known a case of Stupid to be temporary yet.

 

[matty]

Yes we are depressed that democrats have stolen our grankids future and gave it to democrat interests calling it a stimulus plan.


Poverty up
Unemplyment high
Foreclosures up
Gitmo Open
Gas prices up
Democrat Lobbyists control washington
Earmarks on every bill
Illegal Libyan wars that cost 40 million per day borrowed from China
More division than anytime since the civil war


Of course we are depressed


Democrats create ghettos



and are right on track


Bankrupting the country





Democrats are scum

That was while he was just ushering in Hu for a secret intimate White House dinner We were on a needtoknow basis about. Press said any details to the public were refused, lol!, that's fucking crazy, fucking sheep.

 

[matty]

I agree it's not officially a Depression,but I bet a whole bunch of Americans are depressed and with good reason.I don't feel good about this country's future at all right now.The stock market is up but is that a false indicator,another bubble about to burst.If the market nose dives again it's all over folks.

9/10's of a Depression is, for all purposes a fucking depression by my count.--I think we passed there being any issue in this debate long back--(Who cares, are we still talking about this?).--Other falsies, those jobless numbers which take nothing into account of already forgotten wouldbe workers, unemployed and unnaccounted for, the count only takes into consideration those who've recently actively sought work/receiving unemployment, lol.

 

[georgephillip]

It will get ugly. Very ugly. That's how it will change.

And it's something we should be seriously concerned about.

There seems to be a fairly broad consensus from one end of the political dial to the other that you are right. Whitney makes the case in his article that 1st Quarter GDP has been revised down to two percent and may be headed even lower.

"Have you noticed that unemployment is stuck at 8.8 percent and underemployment at 16.2 percent with more people falling off the rolls and into abject poverty every day? Did you see that manufacturing is starting to slip and 'the production index, a key measure of state manufacturing conditions, fell from 24 to 8, indicating slower growth in output.'

"Do you realize that the downturn in housing is getting more ferocious even after falling steadily for 5 years straight?

"Have you considered the fact that the government and Fed have pumped trillions of dollars of monetary and fiscal stimulus into the financial system with just about nothing to show for it?

"And, do you know why? Because we're in a Depression, that's why.

Mike Whitney: Hyperinflation? No Way

 

[Avatar4321]

It didn't get to be a pretentious global debate for nothing; the question being raised over and over is a fair indicator all the symptoms are present. The catchy phrase Great Recession saw notoriety for a bit.

You can find design--purposeful and not--for classwarfare in many a venue all around us today and more avenues en route where that came from.--Oh that it were limited to places like here. Such a disaster is finally only a further ripening climate for creating yet more of the same divide--mother of all vicious circles.

The dollar has already taken such a dive, to the detriment of us all, I hate to think of humbling it any further, lol, omg.

The problem is that we aren't following the dollar and humbling ourselves to fix our problems. We, in our pride, are declaring ourselves too big to fail, pretending that this is how things will always be, that we can keep acting like we are without any negative consequences.

Pride comes before the fall and unless we repent and become humble, we are in for a huge fall. The more we say it can't happen to us, the more likely it will.

 

[matty]

That's right, that's four fuckings, I think, but apt.

 

[Avatar4321]

There seems to be a fairly broad consensus from one end of the political dial to the other that you are right. Whitney makes the case in his article that 1st Quarter GDP has been revised down to two percent and may be headed even lower.

"Have you noticed that unemployment is stuck at 8.8 percent and underemployment at 16.2 percent with more people falling off the rolls and into abject poverty every day? Did you see that manufacturing is starting to slip and 'the production index, a key measure of state manufacturing conditions, fell from 24 to 8, indicating slower growth in output.'

"Do you realize that the downturn in housing is getting more ferocious even after falling steadily for 5 years straight?

"Have you considered the fact that the government and Fed have pumped trillions of dollars of monetary and fiscal stimulus into the financial system with just about nothing to show for it?

"And, do you know why? Because we're in a Depression, that's why.

Mike Whitney: Hyperinflation? No Way

I have to agree. I think we are in a Depression, or close to it. The fact is we get our figures and statistics from the government, for the most part. And how on earth can we trust them? How do we know they are giving us accurate information? Especially when they have every motive to hide the truth from us in order to keep their power.

This is why we need to seek the truth and hang on to good princples. We need to prepare for what's coming.

 

[skookerasbil]

Somebody back there mentioned ghetto's...........indeed........the more ghetto's the better for Democrats. always been that way............only suckers dont realize........

 

[georgephillip]

No, we are in a state of temporary stupidity. It will pass without too much being done about it.

Some of the least stupid people on the planet are playing shell games with taxpayer dollars. Should we do something about that?

"A study requested by Sen. Bernie Sanders (I-Vt.) found numerous instances during the financial crisis of 2008 and 2009 when banks took near zero-interest funds from the Federal Reserve and then loaned money back to the federal government on sweetheart terms for the banks.(AP/J. Scott Applewhite)...

'"This report confirms that ultra-low interest loans provided by the Federal Reserve during the financial crisis turned out to be direct corporate welfare to big banks,' Sanders said.

"'Instead of using the Fed loans to reinvest in the economy, some of the largest financial institutions in this country appear to have lent this money back to the federal government at a higher rate of interest by purchasing U.S. government securities.'”

Analysis: Banks Play Shell Game with Taxpayer Dollars | Common Dreams

 

[georgephillip]

Yes we are depressed that democrats have stolen our grankids future and gave it to democrat interests calling it a stimulus plan.


Poverty up
Unemplyment high
Foreclosures up
Gitmo Open
Gas prices up
Democrat Lobbyists control washington
Earmarks on every bill
Illegal Libyan wars that cost 40 million per day borrowed from China
More division than anytime since the civil war


Of course we are depressed


Democrats create ghettos



and are right on track


Bankrupting the country





Democrats are scum

Wall Street stole your grandchildrens' futures and Republicans AND Democrats took turns helping in every way they could.

btw, the richest 1% of Americans only know one word.
M-O-R-E

They are not through taking.

 

[matty]

It will get ugly. Very ugly. That's how it will change.

And it's something we should be seriously concerned about.

There seems to be a fairly broad consensus from one end of the political dial to the other that you are right. Whitney makes the case in his article that 1st Quarter GDP has been revised down to two percent and may be headed even lower.

"Have you noticed that unemployment is stuck at 8.8 percent and underemployment at 16.2 percent with more people falling off the rolls and into abject poverty every day? Did you see that manufacturing is starting to slip and 'the production index, a key measure of state manufacturing conditions, fell from 24 to 8, indicating slower growth in output.'

"Do you realize that the downturn in housing is getting more ferocious even after falling steadily for 5 years straight?

"Have you considered the fact that the government and Fed have pumped trillions of dollars of monetary and fiscal stimulus into the financial system with just about nothing to show for it?

"And, do you know why? Because we're in a Depression, that's why.

Mike Whitney: Hyperinflation? No Way

Or at least they've come in better in some capacity recently, I don't know which but somebody was trying to instill more confidence recently on that note.

Simple fact is, though, infrastructure itself is rather a Major player in the whole 'indicators' scenario and that's been reported 'crumbling' on all sorts of planes, mnfg certainly didn't escape criticism.

Besides, wanna talk obvious indicators, howsabout all that foreign ownership, our industry has been all but gutted, sold out from under us right out the back door... What more indicator do we need, people?

Heal thyself, invest in Thyself. Really not difficult math at all.

 

[william the wie]

Cashflow from USG to citizens is positive. Household real wealth is down and is likely to sink further. Prices of necessities such as food and fuel are way up. Obama makes Carter look like a great president. This will get real interesting.

 

[matty]

So anything Liberal is OUT.

 

[matty]

No, we are in a state of temporary stupidity. It will pass without too much being done about it.

Some of the least stupid people on the planet are playing shell games with taxpayer dollars. Should we do something about that?

"A study requested by Sen. Bernie Sanders (I-Vt.) found numerous instances during the financial crisis of 2008 and 2009 when banks took near zero-interest funds from the Federal Reserve and then loaned money back to the federal government on sweetheart terms for the banks.(AP/J. Scott Applewhite)...

'"This report confirms that ultra-low interest loans provided by the Federal Reserve during the financial crisis turned out to be direct corporate welfare to big banks,' Sanders said.

"'Instead of using the Fed loans to reinvest in the economy, some of the largest financial institutions in this country appear to have lent this money back to the federal government at a higher rate of interest by purchasing U.S. government securities.'”

Analysis: Banks Play Shell Game with Taxpayer Dollars | Common Dreams

What's he doin' on this plane?