Are we experiencing another Depression?
musicismylife78
Posts: 6,116
I had a class in college back in 2006 taught by one of the most respected socialist thinkers in the world. his analysis was that when the house's started losing value and started going crazy, things would fall apart. next thing I knew, this past year the housing market was top news. and of course now, things seem to be going bonkers/
in addition, this financial crisis seems to me to be extremely serious. even bush admits millions of jobs could be lost.
Chris Dodd and others are being extremely tight lipped about whats going on, even for politician standards. what was said at the meeting that made "the air go out of the room"? Why was the "language" at the meeting, so disturbing to Dodd and others? Why havent they told us what was said? Why when asked on a sunday morning talk show, what exactly was said, he replies "on a sunday morning one cant repeat what was heard". Well what about on a monday or tuesday? Can we learn then?
So are we in the beginning stages of another depression?
in addition, this financial crisis seems to me to be extremely serious. even bush admits millions of jobs could be lost.
Chris Dodd and others are being extremely tight lipped about whats going on, even for politician standards. what was said at the meeting that made "the air go out of the room"? Why was the "language" at the meeting, so disturbing to Dodd and others? Why havent they told us what was said? Why when asked on a sunday morning talk show, what exactly was said, he replies "on a sunday morning one cant repeat what was heard". Well what about on a monday or tuesday? Can we learn then?
So are we in the beginning stages of another depression?
Post edited by Unknown User on
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but i will say The Fed is doing its damnedest to flood the market with liquidity, quietly pumping billions every evening in to the system ... that alone has a good chance at holding off a real depression.
So what did this most respected socialist goof ball think was the answer to all of our "capitalist" ailments?
I can't wait to hear this.
It really bugs the shit out of me when people who don't even understand what capitalism is or isn't start erroneously blaming the failures of our system on capitalism, and then start proposing radical shifts in government as answers.
But not to knock him before you tell me what he had to say,
so what was his great socialist solution to this?
:(
If I opened it now would you not understand?
Weren't Freddie and Fannie created by the Govt and aren't they part of the reason why we are in this mess to begin with. Socialism is not the answer
I don't think we are heading for a depression. Unemployment is only around 6% full employemnt for our economy is around 5%, it was around 25% during the depression. Adjusted wages from the depression are much higher as well. My unscientific approach is this. Try going out to dinner on the weekend you will have a long wait to get seated. Try finding a WII system they are still in great demand at $350 when all is said and done. Iphones sold out when they were first released. Sporting events here in MA. are sold out, the patriots raised prices by 33% in some areas of the Satdium. PJ played to packed houses all summer. We have been told for the last year that we were in a recession. Yet we have had quarterly economic growth. Maybe someone redefined what a recession is. I realize some people are affected curently but I do not think it is nearly as bad as we are being lead to believe. My point of all this is if people were really concerned about a depression the things listed above would be drastically different.