USA 2008: The Great Depression

reply to post by mybigunit


I believe we are in a recession as well.. however from a technical standpoint there is little evidence to back this up..

Its odd .. its like.. businesses are doing ok .. in many places they are not, but in enough places they are.. I have tried to read on why this is happening. In cities like Portland Oregon cranes tower the skyline and new buildings are erected with new jobs. It has a very young population, huge corporations, very nice schools.. and its a boom and its unexplained why.

Yet in some cities like Detroit, Cleavland, St. Louis.. our once big cities.. are now shrinking, there is no construction only decay.. it should be noted, in the cities that are new and on the rise such as Portland, the infrastructure is new as well, rebuilt as the cities expand .. where as older cities it is decrepit.

But enough NEW business or old standing businesses in specific areas are doing OK .. while in many other areas its not.

So some see a depression. Some see an economic boom.. I see transition .. a move from the old world to the new world of globalization .. if I where not up for a big promotion in the coming month I had planned to move to Portland Oregon in July.. me and my fiancee both had jobs lined up, well paying, and the city is growing compared to our decaying city we currently live in (federally classified as "depressed urban center" ... lol )

some states are seeing this problem state wide.. in Ohio counties pay students to go to school.. all in the hopes that for a minimum of 3 years you will stay and work in that county.. because students don't want to be here.. its old, its dead, there is no urban life left in the city. the buses and the thugs took it over (our city built 3 downtown areas in the suburbs so surburbanites could go to a urban center without the urban problems.. thats a telling sign of America..) so Students are fleeing the state and not looking back. Ohio is not alone, Michigan, PA, Indiana, Mississippi and several others have the same problem.. an acceleration of what was once an obvious truth - America experiences migration of populations from one point to another. This is why I feel so many experience the economic changes so much worse then others.

others just like to gripe for the sake of griping.

but either way, i agree we are in a recession .. GDP may not be down, but I think enough people are now suffering compared to the late 90's..

runetang

The Dow Jones is up 360 points, UP 360 points as of 3pm EST!

A depression has nothing to do with the stock market. In 1929 the markets crashed, but the only effect was banks closing that hurt people, then the loss of jobs. After the initial massive sell off, the market steadily gained points, far more up then down if you look at the graphs. Massive sell offs like that are now impossible, once the market hits a certain percentage the markets are closed to allow investors to calm down.

LLoyd45

You'll be calling it hunger when you no longer have a job, and your parents can't help you out anymore.

I won't be loosing my job. And besides, my family owns a farm. And by the way, my parents do not help me at all, not since 18 mate. Thanks for assuming.

I'm glad you feel all safe and secure in you fantasy world right now

Its not a fantasy, its a fact.. we are not in a depression.. how can we be in a depression if we are not even sure if we are in a recession? .. I doubt you know what a depression is.

Then you'll get to meet some of those people with those personal problems you seem to look down your nose at face-to-face. I doubt you'll enjoy the experience.

My industry makes more money during economic hard times then we do in prosperous times. Or rather, there is a far better chance to exploit the money that is lieing around. and yes, even in 1929 there was money.. not everyone was poor you know.. about 20% or so unemployment.

Believe me Rockpuck, I've been there, and things were alot better then they are right now. You'll definitely learn the meaning of humility or you won't last long.

Iv been at the bottom, I worked from the bottom, and that only solidifies my belief the only thing that holds people back is themselves.

Realtruth

Regardless of numbers that are posted by the banks, feds, surveys, etc,.. I can assure everyone outside of the USA that we are in a recession.

I live in Michigan and it is really bad here, as for the rest of the country I can not vouch for.

My first big paragraph is for you as well.. I believe it is human migration causing this problem.. because where Michigan is depressed.. Oregon, Washington, Vermont, South Carolina, North Carolina, Arizona, are still seeing economic expansion far greater then other states.. remember.. those industrial centers are 100-150 years old + .. times change, and with it will come the pains of change.

reply to post by Christian Voice


Hello Christian Voice, sorry about all your turmoil, but thanks for the info my friend. It does prove that IT is really happening.

I am from Canada and here we are loosing major jobs in the Wood industry, paper factories... He the gas prices average 1$/Gallon and food prices are getting higher...

Seems to me that something worst will happen because it cannot continue like this...

Take care

Grinder

I don't think we are in a depression, or a recession.....
I think we are in totally uncharted territory here. and, it doesn't help when you read articles that state that even the "experts" in the fed and the treasury are lost at trying to figure out just what has gone down, and what will go down, or what to do about it. the projected loss of all these derivitives is greater than the combined value of all the real estate world wide, greater than the gnp of our country and I believe all the rest...it's huge!
someone mentioned the new bankruptcy laws, and about how we can't even releive all this debt to give the economy a kick start. all I can say to that is that the laws can be rewritten if necessary, and it might be necessary? how about a year of jubilee? when all people, businesses, countries, banks, ect. are forgiven of all their debt and we all start all over again? I wonder if there would even be even any losers with such a proposal? ya, I owe some people some money, and alot of other people do also, but how much do these people owe others, and them others, and on down the line.....to the fed. and of course, there's people who owe my money also, like my boss, my bank, ect. I don't know if it would be feasible or not...

1 in 6 residents in west virginia is recieving food stamps now, I think the nationwide average is something like one in ten? Our wages have steadily been decreasing, the good jobs have gone overseas, being replaced with lower paying jobs, jobs that enable a person to qualify for food stamps and such.....they're acting like it's a new problem, but I think it's something that's steadily been growing. Like I keep asking, why is it that the taxpayer is subsidizing so many company's payroll.....a starving employee, isn't gonna be worth sqaut for the companies, so, well.....it stands to reason that either we have alot of companies that really cannot operate and turn a profit without alot of gov't money being directed at them to allow them to, or, their "record profits" and high salaried upper management comes with a cost to the taxpayers.

Originally posted by Smokersroom
Wow, that's a pretty poor outlook.
War, recession, split down the middle politically, raging crime, a ramp up of surveillance.
You guys aren't having it very good at the moment are you?

No, no we are not.

Those that voted for these major and irresponsible spend-a-holics in the White House that railed against big government while dramatically increasing it will hopefully have learned a valuable lesson. Although this isn't entirely this administrations fault they certainly helped to drag this country down which is probably the plan they had all along.

Even McCain is beginning to distance himself from this pathetically erroneous Presidency of George W. Bush.

Anyway lets keep focusing on Clinton v.s Obama, how Chelsea should answer Lewinsky questions and whether Obama "could" ask for reparations from the U.N. "if" he is elected President.

The "major issues" that we love to keep fighting over.

It's going to get a helluva lot worse before it gets better...then of course we'll have become a part of the E.U. by then. Learn Spanish and French before that though so we can relate to our soon to be citizens to the north and south.

America is becoming a parody of its former self, which according to what most believe is fate...should precipitate the end of the world.

- Lee