When did they start calling it a depression back then?

I doubt they started referring to it immediately in 1929. It was probably a few years after they have finally accepted the truth. We are seeing the exact same pattern but with far more frightening speed. We are entering depression whether you like it or not. Besides, when do historians agree the start of the Great Depression? 1929.

Great Depression 2 started on September 15, 2008.

You cannot prevent a depression or catastrophe by taking actions just before it's about to occur. The only way to prevent something of such pervasive reach and magnitude is to make the appropriate changes far in advance. It's common sense. A depression is coming bailout or not; so get ready. At best, a bailout will only delay this payback period. But it will also make the payback worse when it occurs. At some point Washington needs to stop cheating the system by printing money. As we have seen from history, reckless monetary policy creates the illusion of recovery, with more severe consequences at a later time.

www.marketoracle.co.uk...

Originally posted by eldard
I doubt they started referring to it immediately in 1929. It was probably a few years after they have finally accepted the truth. We are seeing the exact same pattern but with far more frightening speed. We are entering depression whether you like it or not. Besides, when do historians agree the start of the Great Depression? 1929.

Great Depression 2 started on September 15, 2008.

You cannot prevent a depression or catastrophe by taking actions just before it's about to occur. The only way to prevent something of such pervasive reach and magnitude is to make the appropriate changes far in advance. It's common sense. A depression is coming bailout or not; so get ready. At best, a bailout will only delay this payback period. But it will also make the payback worse when it occurs. At some point Washington needs to stop cheating the system by printing money. As we have seen from history, reckless monetary policy creates the illusion of recovery, with more severe consequences at a later time.

www.marketoracle.co.uk...

It's kinda funny, because when you think about it, everything that happened then is happening in reverse now.

The biggest question is...how are we going to get out this time?

It wasn't until 1933 that it hit bottom. Many developed nations tried different strategies to recover from 1929-1939. It wasn't until 10 years had passed of national recovery efforts that a leader rose to restore one country to it's past glory, but he was Hitler.

There was also a 'Long Depression' from 1873-1896 (23 years) that affected the developed world, and hardest hit was the UK.

reply to post by eldard


I am sure you can look at our current "recession" as a bit of a guidepost. They didn't acknowledge that we were in a "recession" until a year after it happened. I expect the same thing to happen with a depression. We will all know that we are in one well before any officials actually use the word.

It won't be called a depression until it affects Washington directly.
Hell, they didn't call this a recession until gas prices went down, and they lost money on oil profits + taxes...