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The D-word: Will recession become something worse?

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posted on Mar, 2 2009 @ 07:51 PM
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yahoo.com


The trouble is, unlike recessions, which are easy to define, there are no firm rules for what makes a depression. Everyone at least seems to agree there hasn't been one since the epic hardship of the 1930s.

But with each new hard-times headline, most recently an alarming economic contraction of 6.2 percent in the fourth quarter, it seems more likely that the next depression is on its way.

"We're probably in a depression now. But it's not going to be acknowledged until years go by. Because you have to see it behind you," said Peter Morici, a business professor at the University of Maryland.


I know in California the "official" unemployment figure is 10%.


The current downturn has many of the 1930s characteristics, including being primed by big stock market and real estate booms that turned to busts, said Allen Sinai, founder of Boston-area consulting firm Decision Economics.

Policymakers and economists note there are safeguards in place that weren't there in the 1930s: deposit insurance, unemployment insurance and an ability by the government to hurl trillions of dollars at the problem, even if it means printing money.


The old saying is " a recession is when your neighbor loses his job, a depression is when you lose your job!"

I have been predicting a 5000 Dow and we broke 6 today and AIG still can't get it's act together. Not to mention this downturn is global.

We may be in for something not ever seen even in the 30's!




posted on Mar, 2 2009 @ 07:59 PM
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I read this a few minutes ago and almost posted it..


I think it is going to be a depression...the economy is tanking fast.

I'm scared to death that i'm going to be unemployed soon. I've been lucky so far...but work is getting very slow.

As soon as that happens...my vehicle is gone. Won't be able to feed my kid and keep that. It will have to go. Can't sell it...no one is buying.

Cripes I hope i don't lose my job.

We've only seen the beginning man...it's going to get far worse.



posted on Mar, 2 2009 @ 08:13 PM
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2009 Depression Validated
www.abovetopsecret.com...

Try this on fer size...now look throught it, don't just open the last page...

You tell me after seeing all that...Depression?




posted on Mar, 2 2009 @ 08:36 PM
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Of course it is. We know it, the government knows it, the market knows it. This is just a bit late...Like acknowledging the recession a year after it starts.



posted on Mar, 2 2009 @ 08:42 PM
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reply to post by projectvxn
 
Star 4 U!

Ignorance is bliss...

MSM shall soothe all worries...


12. "There's an old saying in Tennessee -- I know it's in Texas, probably in Tennessee -- that says, fool me once, shame on --shame on you. Fool me -- you can't get fooled again." -Nashville, Tenn., Sept. 17, 2002
www.listze.com...




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