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Central questions these days are how severe will the U.S. economic downturn be and how long will it last?
The most serious concern is that the downturn will become something worse than the largest recession of the post-World War II period -- 1982, when real per capita GDP fell by 3% and the unemployment rate peaked at nearly 11%. Could we even experience a depression (defined as a decline in per-person GDP or consumption by 10% or more)?
Originally posted by yellowcard
...and now GE looks like it might go under...if GE was to go under, I would almost guarantee we'd slip into Depression, GE has been an American powerhouse for decades.
Originally posted by Divinorumus
Eventually, countries like China and those OPEC nations will wise up and realize how stupid they were for exchanging their national resources and labor for those pieces of IOU paper and ink.
A depressiondepressiondepression is thought to occur when the GDP declines by 10% or more in aaa year’s time. Economists tend to differ over the exact percentage of decline. The Great DepressionDepressionDepression in the US and in Europe after the Stock Market crash of 1929 showed aaa steadily declining GDP in the subsequent years.
Originally posted by OBE1
I have to believe that Bay St. will welcome the spenders from Beijing with open arms.
Originally posted by Common Good
The Odds of a depression?
Well, with Obama in office, its a sure thing.
$1000 on black.