Why isn't it called a Depression yet?
musicismylife78
Posts: 6,116
Obviously, 1929 was markedly different than what is going on now. I havent heard any stories of people jumping off buildings and havent heard any talk of shantytowns poppy up. That said, from what I can tell, the economy is the worst its been since 1929.
Why is this mess continually referred to as a recession, rather than Depression? Recession suggests things will get better in a few months. Thats the whole joke of it all. Even back in 2006/2007, people were saying, "oh this housing bubble will turn around in a few months", "things will get better in a few months", this has been uttered every few months now for 2 or 3 years. Things havent gotten better. Things have gotten worse.
Why are people unwilling to call it as it is. This is a depression. Things arent getting better.
Ultimately, this mess only reaffirms my basic belief that, this is what happens when a civilization is run on the basic tenets of capitalism: that money and expansion and development and globalization is king, and that all else, is secondary. Making money is the key.
I think thats what got us in this mess. And until that way of thinking is abolished, we will continue to see this decline.
Why is this mess continually referred to as a recession, rather than Depression? Recession suggests things will get better in a few months. Thats the whole joke of it all. Even back in 2006/2007, people were saying, "oh this housing bubble will turn around in a few months", "things will get better in a few months", this has been uttered every few months now for 2 or 3 years. Things havent gotten better. Things have gotten worse.
Why are people unwilling to call it as it is. This is a depression. Things arent getting better.
Ultimately, this mess only reaffirms my basic belief that, this is what happens when a civilization is run on the basic tenets of capitalism: that money and expansion and development and globalization is king, and that all else, is secondary. Making money is the key.
I think thats what got us in this mess. And until that way of thinking is abolished, we will continue to see this decline.
Post edited by Unknown User on
0
Comments
And besides, for the way I've been seeing folks spend money in Philly this past week? There's def. no recession going on...
As for shantytowns:
http://online.wsj.com/article/SB124994409537920819.html
Things just keep getting tougher and tougher. I can't believe how much the basics ,like food, have risen.
However I think there's a conspiracy here. We are told here that things are getting better and it's the financial institutions that give us this wondrous news. And yes you've guessed it the banks are talking about paying out huge bonuses again next year. The financial industry used to regarded with some respect but now many regard them as the lowest of the low.
have we hit that 10%?
i honestly don't know...
Let's just breathe...
I am myself like you somehow
My dad worked for the W.PA. at one point. He wonders why they aren't putting some program like that in place now. I think he only sees what is happening here. I am guessing our state gov. won't put anything in place. It will have to wait until must of the U.S. is in a depression.
I agree with most of this post, but prefer not to even get bogged down in the semantic nuances anyhow.
Things are bad, seem to be getting worse (for some, though i personally work two blue collar jobs that are both on the up and up, so everything is subjective), and probably will continue to decline in real terms, even if the stock market does magically rise another 1,000 points next year (and i wouldn't be surprised if it did, the market is a fantasy world now anyhow).
What i do disagree with, and disagree with violently, is the end analysis here: "this is what happens when a civilization is run on the basic tenets of capitalism.
::CRINGE::
With all due respect, this is what happens when a country has been dominated so wholly by shadowy supranational occult forces, that the original liberating doctrines of its forefathers have been completely perverted and subverted to the point where the country is now utterly unrecognizable.
If by "capitalism" you mean the right: to private property so that one may be secure in their person and live as they so choose; to work for self sustenance, self betterment, and for the acquisition of leisure and to retain, in full the fruits of that labor (ie. no income tax!, ie. property theft); to intellectual property so that one may advance the common good while providing for self interest as well; THEN I COULD NOT DISAGREE WITH YOU MORE!
If, instead, by "capitalism" you mean the system: whereby the modern day "royal families" have re-made us all in to their subjects anew through the silent revolution against our constitutional republic in which they have now instituted fully almost all 10 of the original planks of Marx's Communist manifesto; whereby under the 2nd plank a heavy progressive income tax is installed to transfer the peoples wealth back to the state (and the secret "royal" "owners" of the state) -- an income tax clearly illegal under our constitutionally specified ultimate rules of taxation, and clearly still ruled unconstitutional by more than one supreme court decision even after the questionable passage of the deliberately vaguely worded 16th ammendment; whereby under the 5th plank all credit is centralized under a national bank, and in the case of our country it is aggravated further by the fact that this power is consolidated technically outside of the government by way of an insidious creature known as the "federal" reserve; whereby under the 10th plank a free educational system is set up to entirely indoctrinate and train children for a non-critical thinking, life of subservient-laboring for this very same "royalty"; and whereby in every instance it be possible to do so these "royal" interests exert influence through their numerous political and supra-political organizations to manipulate the regulation of our country in favor of their own agendas and ultimately in direct subversion of our constitution and the rights it declares given to us unalienable; WHY THEN YES, YES I AGREE WITH YOU, "capitalism" is bad.
But you would have to re-read that entire sentence-graph and understand that what you are really dis-enthralled with is actually a post-modern, well planned hybrid communist-monopoly-capitalist government, which not only does it's damnedest to control the whole of the market for the favor of its own masters, but does so at the direct and most often deliberate expense of you yourself.
Our nation rose to great prosperity under the beautiful tenants of free-market constitutional republicanism.
The term "capitalism", which arose later anyhow, went hand in hand with the escalating consumerist nature of human civil development, and ultimately became associated NOT with the principles this country was founded upon, but became in truth more of a smoke screen buzzword to help legitimize, on a world scale, the modes and ethos of a "political" theory that allowed the elitest of elite to commandeer our nation (and ultimately the world) through pirate corporate swindling. By elevating the corporation over man (a situation entirely unknown to our country until the mid-1800s, before which a corporation could only exist for the public good) the super-elite began to gradually pervert and ruin our nation. By 1913 when they got their kingpin private corporate holiest of hollies, the temple (i.e Federal Reserve) established, the beginning of the end was already nigh. What we are witnessing now is just the end sweep.
Public opinion, by way of an engineered economic crisis is being made to bend to the exact whim of these very same self-serving "people" (those who can hardly so be called). Your imagined bitterness towards "capitalism" is entirely planted there by design. The massive wave of backlash against what the ignorant will ultimately ascribe to "capitalism" will lead to the much desired downfall of our true (and nearly gone) American heritage. After the necessary sacrifice of America and its hated vile constitutional limitations on elitist power, the world will be reshaped anew according to much baser new age doctrines which hail that man is united in a new brotherhood, while in reality each country has only been deeply deceived into handing over its people's sovereignty to a new international mega-power owned and backed by the richest of the rich. And yet you will be hammered endlessly with propagandist discouragement from "greed" and "materialism" in order to keep you "down here with the rest of us" while they continue to dine on their silver plates, in their gated palaces, on their private fully-staffed (with neo-surf peasantry) islands, guarded by their own private armies of publicly educated brain dead dolts.
If I opened it now would you not understand?
No, we haven't:
http://useconomy.about.com/od/economici ... istics.htm
The rules aren't hard and fast though. Not all economists agree on how they should be defined. And the Bureau of Economic Analysis can call a recession, or depression, based on factors other than GDP (employment for example)
Bobby Kennedy campaigning for president in Kansas March 18, 1968; here he discussed GDP. He was shot and killed less than three months later:
http://www.youtube.com/watch?v=77IdKFqXbUY
i feel for you in michigan...its gotta be really tough there. i work in mortgages and see first hand how the housing market has destroyed many parts of that state, especially detroit.