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Our Congress is spending us into third-world status and my vote has been rendered meaningless.
0bama and his policies will make the depression of the ‘30s seem like “The Lesser Depression”.
Huh?
This editorial is one of the oddest pieces I’ve ever read. First it asks if we’re “heading” into a Depression, then uses a current data comparison to the last Depression.
It’s like asking, “Will the boy grow into a man?” And then answer, “No, because the child is much too small.”
It would take a miracle of economic prudence to prevent it, and, as I believe in miracles, I remain open to the possibility. But I have no reason to bet on anything, so far apart from the utter mismanagment of the current perilous predicament by the powers-elect.
Most business people I have talked with are very concerned about the next 2 - 4 years.
Inflation. Taxes. What will the Jan 1 rise in the Missouri minimum wage do to small business since it does nothing to increase productivity?
Energy costs? I would be afraid to invest in utilities like new coal fired power plants. A widening scale of the Israeli ass kicking of their problem neighbors could make oil shieks mad and they might shut down oil production.
While we hope things will not collapse, most small businesses are gearing for the worst. Same for individuals.
Fear and uncertainty are running the course of economics.
People have lost confidence in our government because they continuously reward failure and brush off corruption.
Frankly, it is pretty much out of our hands. For Obama, capitalist economics are definitely above his pay grade.
Ahem, Erza. Look at this chart of unemployment during the Great Depression:
Notice that unemployment in late 1929 and early 1930 wasn't too bad. Unemployment didn't peak until 1934, and didn't fall below double digits until 1941, the start of World War II for the United States.
To make a historical comparison, we are currently in January of 1930.
We will only be in a depression as long as it takes the Chinese or Muzzies to take us over.
While things probably won't get as bad as the 30's, they're going to get much worse than they are now. The shocks to the world's economy have only begun, and the vicious cycle of downturn->layoffs->lower consumer spending->downturn has yet to begin.
Were the Dark Ages a "depression", or a "recession", or a "correction", or a "downturn"?
Did the Global Economy (for that era) continue to click along undeterred?
Definition: A depression is a recession managed by the government.
It depends on the the government’s reaction. It their continued reaction is to try to “bail out” practically everyone, especially those who should be allowed to fail and will eventually fail anyway, then, yes, we are headed for a Great Depression.
Canada ping.
A dem’s going to be in office - the MSM has got to start the “big positive economy” push...
Overstating our current economic difficulties is USEFUL to the powers-that-be who want to ramp up the govt printing presses and force a NewNew Deal ‘stimulus’ that will help spread corrupt govt money around.
That’s why they talk about the “Great Depression” - not because it is true but because it makes for a good boogeyman to scare people - its utter and contemptible nonsense.
It’s 1819 all over again.