How bad will the economy get? Depression?
musicismylife78
Posts: 6,116
How much worse could things get? I have heard stories of CEO's and such working shift work, getting paid slightly higher than minimum wage, and I know that a credit card company, a major one is now offering 300 dollars to some customers to QUIT, yes QUIT their partnership with the company. You know things are bad when credit card companies arent pestering you to get a credit card, but are pestering you to NOT get one!
I would argue we are in a Depression, but even if you dont think we are in one yet, it seems clear we are nearing one soon. WHat would a modern day Depression look like?
The apocalypse does seem to be at hand when even middle of the road Thomas Friedman, starts to suggest this economic crisis is a product of consumerism and capitalist culture and ecological and environmental degredation as he did a few days ago.
Seems to me, he is right, that there really isnt going to be a point in a few months where people can start paying for more highways and roads to be built, for more cars to be bought, for more expansion whatnot.
It seems we have come to the end of the road. This lifestyle we all live, consuming, and expanding, has until recently not reared its ugly head of consequences for all to see. I think whats going on now is what the CIA calls Blowback.
I remember after 9/11, The Onion, yes that satirical newspaper from Madison WI, did some of the most powerful coverage of a post 9/11 world. One news brief, was that a 6 year old muslim girl, was taunted and harassed on the playground, called slurs. There was no punchline. There was no joke. Pretty powerful stuff.
The other day the Onion had an article entited Nation Instrinctively Forms Breadline with this intense snippet:
Will work for food! Will work for food!" cried unshaven Arizona resident Ed Gallagher, who, upon waking this morning, intuitively put on a sandwich board, rinsed his face in a pail of water, and started wandering the streets in search of work. "Have graphic design experience! Will work for food!"
"We've lost everything," said Janice Mann, an Iowa native, who watched helplessly as dozens of so-called Bushvilles sprung up across her state. "The land, the house—it's all gone. They say this could last an entire decade. That it's going to get worse before it gets any better."
At press time, nearly 250 million Americans had found themselves waiting in line for bread. Though few could explain how they wound up huddled together in the cold, clad in threadbare fedoras and fingerless black gloves, others seemed less surprised.
"I told 'em it was coming," said 97-year-old Wyoming man Howard MacGregor. "They didn't listen to me, oh, no, but I tolds them. I did."
---
Now I obviously know The Onion is a satire, and its all a joke, but just like the story of the Muslim girl, I didnt laugh. Things are bad when even the Onion doesnt make you chuckle!
I would argue we are in a Depression, but even if you dont think we are in one yet, it seems clear we are nearing one soon. WHat would a modern day Depression look like?
The apocalypse does seem to be at hand when even middle of the road Thomas Friedman, starts to suggest this economic crisis is a product of consumerism and capitalist culture and ecological and environmental degredation as he did a few days ago.
Seems to me, he is right, that there really isnt going to be a point in a few months where people can start paying for more highways and roads to be built, for more cars to be bought, for more expansion whatnot.
It seems we have come to the end of the road. This lifestyle we all live, consuming, and expanding, has until recently not reared its ugly head of consequences for all to see. I think whats going on now is what the CIA calls Blowback.
I remember after 9/11, The Onion, yes that satirical newspaper from Madison WI, did some of the most powerful coverage of a post 9/11 world. One news brief, was that a 6 year old muslim girl, was taunted and harassed on the playground, called slurs. There was no punchline. There was no joke. Pretty powerful stuff.
The other day the Onion had an article entited Nation Instrinctively Forms Breadline with this intense snippet:
Will work for food! Will work for food!" cried unshaven Arizona resident Ed Gallagher, who, upon waking this morning, intuitively put on a sandwich board, rinsed his face in a pail of water, and started wandering the streets in search of work. "Have graphic design experience! Will work for food!"
"We've lost everything," said Janice Mann, an Iowa native, who watched helplessly as dozens of so-called Bushvilles sprung up across her state. "The land, the house—it's all gone. They say this could last an entire decade. That it's going to get worse before it gets any better."
At press time, nearly 250 million Americans had found themselves waiting in line for bread. Though few could explain how they wound up huddled together in the cold, clad in threadbare fedoras and fingerless black gloves, others seemed less surprised.
"I told 'em it was coming," said 97-year-old Wyoming man Howard MacGregor. "They didn't listen to me, oh, no, but I tolds them. I did."
---
Now I obviously know The Onion is a satire, and its all a joke, but just like the story of the Muslim girl, I didnt laugh. Things are bad when even the Onion doesnt make you chuckle!
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Comments
8/7/08, 6/9/09
huh?
Bridge School '06 Night 1 & 2
Venice '07 pummeled by the sleet!
Nijmegen '07
Werchter '07
April Fools ~ LA1
Whats not to get? I think we probably will get into a depression. Luckily for me, im not getting myself worked up and worried about it. What happens happens, i cant control it, so deal with it.
8/7/08, 6/9/09
Sure things have slowed, but the news outlets go on and on and on and on and on and on about how the economy is to blame for all of our ills.
I just don't see it.
...are those who've helped us.
Right 'round the corner could be bigger than ourselves.
EV- 08/09,10/2008.06/08,09/2009