It’s time to start calling the current situation what it is

Discussion in 'Economy' started by samjones, Dec 13, 2011.

  1. samjones
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    samjones Member

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    a depression.

    Agree?
     
  2. gallantwarrior
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    gallantwarrior Gold Member

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    Now that's kind of racist, don't you think? Considering the current administration, and all.
    But, yeah, I have to agree. You must not be paying much attention to the pundits, though. The current administration would rather you believe that we are in an economic upturn of their making.
     
  3. expat_panama
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    expat_panama Gold Member

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    Unemployment rates:
    1929 _3.2 ____ 2007 4.6 ____ 1979 5.8
    1930 _8.7 ____ 2008 5.6 ____ 1980 7.1
    1931 15.9 ____ 2009 8.7 ____ 1981 7.6
    1932 23.6 ____ 2010 9.6 ____ 1982 9.7
    1933 24.9 ____ 2011 9.0 ____ 1983 9.6
    Tell me if you want to call the '83 downturn a depression too.
     
  4. Mr Clean
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    Mr Clean Gold Member

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    I'll believe it's a depression when I don't have to wait for a table in a restaurant.
     
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  5. samjones
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    samjones Member

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    Unemployment in both America and Europe remains disastrously high. Leaders and institutions are increasingly discredited. And democratic values are under siege.

    Furthermore....

    The crisis of the euro is killing the European dream. The shared currency, which was supposed to bind nations together, has instead created an atmosphere of bitter acrimony.

    European demands for ever-harsher austerity, with no offsetting effort to foster growth, have done double damage. They have failed as economic policy, worsening unemployment without restoring confidence
     
  6. rightwinger
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    rightwinger Award Winning USMB Paid Messageboard Poster Gold Supporting Member Supporting Member

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    Do you understand what a Depression is?


    We are not even in a Recession
     
  7. jillian
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    jillian Princess Supporting Member

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    no.
     
  8. samjones
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    samjones Member

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    Not surprisingly, the loss of faith in democracy has been greatest in the countries that suffered the deepest economic slumps.
     
  9. Dont Taz Me Bro
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    Dont Taz Me Bro USMB Mod Staff Member Gold Supporting Member Supporting Member

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    No
     
  10. rightwinger
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    I never saw the US abandon democracy in the Great Depression. If anything, it was stronger
     

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