Last week some Freeper laughed at me for suggesting we are very likely in a depression, though we just don’t have the published figures yet.
Last week some Freeper laughed at me for suggesting we are very likely in a depression, though we just don’t have the published figures yet.
////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////
Once again it has been made obvious to you as well as to me that being a Free Republic member, in and of itself, does nothing to raise a person’s intelligence level. I would have asked why you said very likely, I consider it a foregone conclusion, anyone who laughs at the thought is living in dreamland.
My only question is whether it is a depression, which implies a recovery at some point or an engineered descent to a lower level plateau, the latter is looking more and more likely.
Economics / Recession 2008 - 2010
May 11, 2009 - 05:35 AM
By: Money_and_Markets
Martin Weiss writes: Any economist fixated on so-called “signs of a recovery” needs to have his head examined.
As I’ll prove to you in a moment, the hard-nosed reality is that five major economic cyclones are in progress at this very moment.
The storms are not abating. Nor are they changing direction. Quite the contrary, what you see today is, at best, merely a deceptive calm before the next, even larger tempests.
For investors who follow Wall Street, it could be fatal.
[snip]
According to those that follow Austrian economics theory this is a depression which are caused by the boom and bust of a huge credit expansion.