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Subject: Recession or depression? Wed Jun 27, 2012 12:49 pm

Which would you say we are currently in and have been in for quite some time?

A lot of people say depression, and I'd be inclined to agree, except I'd hate to think THIS is as bad as it could get and then the bottom really falls out from under us.

Subject: Re: Recession or depression? Wed Jun 27, 2012 1:00 pm

I'd say recession but we have the groundwork laid for a depression if things don't improve in the near future. What we have now is hard times for a lot of people but nowhere near as bad as the possibility of what it could become.

Subject: Re: Recession or depression? Wed Jun 27, 2012 1:10 pm

Supernova wrote:: Which would you say we are currently in and have been in for quite some time?

A lot of people say depression, and I'd be inclined to agree, except I'd hate to think THIS is as bad as it could get and then the bottom really falls out from under us.

Depression, the best is yet to come.

Subject: Re: Recession or depression? Wed Jun 27, 2012 1:24 pm

While not as fast and as devastating as the Black Thursday of 1929 that launched the Great Depression, this so called 'Great Recession' is on the brink of becoming another worldwide depression.

We never learned our lesson from the last one. We allowed the monied-interests and banks to play havoc in the stock market and housing market during a great boom and regulation did not keep up with the computerized age - then the inevitable paper fantasy came crashing down.

Now, just like the last Depression, everything is slowing, which causes greater slowing until eventually it will stop as it did before. Look around you. It is depressing to see the empty storefronts in my city. Even the big national chains are cutting back and hardly staying solvent for lack of business - because all those little guys have quit buying. There are many ppl who have been unemployed for over a year or two years now and the prospect of finding a job as even more ppl are losing theirs gets ever harder.

So, I think the commentators and gov't officials are afraid to call it what it is, or at least what it is fast becoming but it may soon be called the Second Great Depression.

Subject: Re: Recession or depression? Wed Jun 27, 2012 1:26 pm

Shale wrote:: While not as fast and as devastating as the Black Thursday of 1929 that launched the Great Depression, this so called 'Great Recession' is on the brink of becoming another worldwide depression.

We never learned our lesson from the last one. We allowed the monied-interests and banks to play havoc in the stock market and housing market during a great boom and regulation did not keep up with the computerized age - then the inevitable paper fantasy came crashing down.

Now, just like the last Depression, everything is slowing, which causes greater slowing until eventually it will stop as it did before. Look around you. It is depressing to see the empty storefronts in my city. Even the big national chains are cutting back and hardly staying solvent for lack of business - because all those little guys have quit buying. There are many ppl who have been unemployed for over a year or two years now and the prospect of finding a job as even more ppl are losing theirs gets ever harder.

So, I think the commentators and gov't officials are afraid to call it what it is, or at least fast becoming but it may soon be called the Second Great Depression.

Subject: Re: Recession or depression? Wed Jun 27, 2012 1:32 pm

Shale wrote:: While not as fast and as devastating as the Black Thursday of 1929 that launched the Great Depression, this so called 'Great Recession' is on the brink of becoming another worldwide depression.

We never learned our lesson from the last one. We allowed the monied-interests and banks to play havoc in the stock market and housing market during a great boom and regulation did not keep up with the computerized age - then the inevitable paper fantasy came crashing down.

Now, just like the last Depression, everything is slowing, which causes greater slowing until eventually it will stop as it did before. Look around you. It is depressing to see the empty storefronts in my city. Even the big national chains are cutting back and hardly staying solvent for lack of business - because all those little guys have quit buying. There are many ppl who have been unemployed for over a year or two years now and the prospect of finding a job as even more ppl are losing theirs gets ever harder.

So, I think the commentators and gov't officials are afraid to call it what it is, or at least what it is fast becoming but it may soon be called the Second Great Depression.

I think we are absolutely headed in that direction. Not there yet but if things don't change fast it won't take long.

Subject: Re: Recession or depression? Wed Jun 27, 2012 5:55 pm

We are in recession. We were in a deep recession a year ago. The fact of the matter is, you still have over a 100 million people out here working...not quite at the depression stage yet.

Subject: Re: Recession or depression? Wed Jun 27, 2012 6:17 pm

I'd say bad recession? We'd likely be in a depression if Obama got everything he wanted though. But for now, just recession.

Subject: Re: Recession or depression? Thu Jun 28, 2012 12:12 am

Recession. We came narrowly close to another depression, but it didn't get quite that deep.

» '5.9 Million Americans between age 25-35 have moved Back Home Since the Recession Started'
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Recession or depression?