The worst economy since The Great Depression

Discussion in 'Economy' started by TheGreatGatsby, Jul 6, 2012.

  1. TheGreatGatsby
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    TheGreatGatsby Gold Member

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    Congratulations Obama. Your 41st month in a row of unemployment of 8 percent or higher marks the first time that that has been done since The Great Depression.

    Source: June jobs swoon: America’s labor market depression continues | AEIdeas

    And "the amateur's" team said that if the $800 billion stimulus was passed then unemployment would drop to 5.6 percent.

     
  2. TheGreatGatsby
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    TheGreatGatsby Gold Member

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    Obama, you've made the worst economy since The Great Depression, what are you going to do next?

    [​IMG]
     
  3. Mac1958
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    Mac1958 Platinum Member

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    .

    Comparing this to the Great Depression is certainly understandable, but the fact remains: This disaster took decades to create, and it may well take decades to unwind. The partisans can point the finger all they want, but this a far deeper, far more complex, and far more culture-related situation. It's not going away soon, regardless of the political affiliation of the President.

    But by all means, let's keep things real simple and just point the finger at "the other guys".

    .
     
  4. regent
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    regent Gold Member

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    Republicans create depressions/recessions and then get upset because the Democrats take so long to fix them. They are still peeing and moaning that FDR took so long and that it took a war to completely recover from the Great Depression, but not a word about Hoover or Bush. In fact, Bush seems to have never existed, his term has become complete set of blank pages in the Republican history books. The Texas history books have probably gone from Clinton to Obama.
     
  5. Widdekind
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    Widdekind Member

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    everybody is complaining about public-sector government (Pres. Obama) not repairing the private-sector economy. What about the private-sector repairing itself ?
     
  6. Moonglow
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    Moonglow Diamond Member

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    that is the way it always works.
     
  7. iamwhatiseem
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    iamwhatiseem Gold Member

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    No.
    It isn't complex at all.
    Key components of the Great Depression...let's see if they sound familiar...

    1) Government sponsored cheap credit for an extended period
    2) Population had a negative savings rate
    3) The stock market was heavily over-valued
    4) Banks were precariously overly exposed
    5) Investment firms were hiding risks
    6) The general economy was dependent on consumer over consumption

    All of these will always be the end result of a runaway plutocratic governance....like today. And Obama is a very, very dutiful servant to Wall Street.
     
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    Last edited: Jul 6, 2012
  8. Big Fitz
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    Big Fitz User Quit *****

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    At least it's true this time when it's said.
     
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  9. Rshermr
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    Rshermr VIP Member

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    So, instead of making accusations, why are you unable to discuss what past repubs have done to decrease unemployment in a bad economy? My bet is that you can not.
     
  10. Big Fitz
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    I dunno. Reagan fared pretty darn well ending Carter's Stagflation. Maybe we should do what he did again. Cut taxes, bust unions and deregulate.

    :thup:
     

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