[Go Gordon]

There are hundreds of freepers who won’t admit there’s a Depression.

I hadn't thought about it, so lets go to the definition of 'Depression': A severe and prolonged downturn in economic activity. In economics, a depression is commonly defined as an extreme recession that lasts two or more years. A depression is characterized by economic factors such as substantial increases in unemployment, a drop in available credit, diminishing output, bankruptcies and sovereign debt defaults, reduced trade and commerce, and sustained volatility in currency values. In times of depression, consumer confidence and investments decrease, causing the economy to shut down.

1. Prolonged downturn - yes

2. Increased unemployment - yes, if we look at labor force participation

3. Drop in credit - yes for businesses (not for banks)

4. Diminishing output - yes

5. Bankruptcies - yes, plenty

6. Sovereign debt defaults - Greece? Spain?

7. Reduced trade - ?

8. Investment decrease - yes

9. Consumer confidence down - definitely

Okay Miss Marmelstein, maybe an objective opinion is yes, there is an economic depression.

[miss marmelstein]

And now we have the added delight of people in Detroit bathing in the river ‘cause they ain’t got no water! Somewhere, Bill Ayers is smiling.