LookieNoNookie
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Joined: 8/9/2008
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quote:
ORIGINAL: MzMia
quote:
ORIGINAL: slaveboyforyou
A depression is a lot more complicated than a "recession that last for years." The last depression has unemployment rates peaking at around 25%. We're not even at 5% unemployment, and I don't see use getting anywhere near 25% in the foreseeable future. We have safety nets that did not exist in the 1930's or the Long Depression that occurred for almost 20 years at the end of the 19th Century. We are almost assuredly headed for a recession, and it's going to hurt. It's not going to be pleasant. It's anyone's guess as to how long it will last. But we are not looking at another Great Depression.
Thanks for the reply, slaveboy!
We are not in a DEPRESSION, yet!
We are on the way!
As I said, a DEPRESSION is a recession that keeps gettting worse and worse and goes on for YEARS.
As I heard tonight, they did not think or know they would be in a Depression in 1929, but the situation, kept getting worse.
Riddle me this?
Is our country and our situation NOT getting worse every day?
Humm, maybe I am the only one around here watching and listening to the news.
Hon....life gets stickier every day, but that doesn't make it duct tape.
On the other hand, slaveboys points are a little flawed as well.
First he argues that we're not at 5% unemployment.
Correct. We're at 6.1%.
Secondly, he argues that we're nowhere near 25% unemployment as we were 75 years ago.
Also correct, but 25 years ago Carter, Reagan, Bush I, Clinton and Bush II hadn't bastardized the definitions and mathematics of unemployment.
Indeed, Bush II reclassified folks who make hamburgers into "manufacturers" so he could show that our manufacturing base had in fact NOT declined.
Interesting.
The information can be verified here: http://www.shadowstats.com/ . Often quoted by national news channels, they've been around for years and all their info, ironically, can be verified at http://www.bls.gov/CPI/ which is the federal govt's website.
In fact, the current real unemplyment rate, depending on who you speak to is between 11 - 16%.
Is that why it "feels worse" to most than they're telling us?
Possibly.
I haven't been unemployed since I was 17 largely because I've owned my own companies since I was that age, and considering their long term success, it's unlikely I'll ever have those concerns, however, the people I speak to all over the country are truly concerned, they are honestly fearful about their futures, and frankly, the closed store fronts, broken windows I've seen with my own eyes, and the business shut downs I've been reading about in every newspaper in these same towns I've been in across the nation since early 2006 tells me the information on shadowstats is accurate, possibly even understated, that our unemployment rate is in fact quite a bit closer to 14% than it is to 6%, and while I'd disagree we're either in a depression or heading towards one....where we are heading is going to feel like a depression to more people than not.
And for a very long time to come.
< Message edited by LookieNoNookie -- 10/7/2008 4:57:13 AM >
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RE: The End of Prosperity/Fasten your seats, its going ... - 
i hope someday one of you guys will remember what i have been saying here. 
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RE: The End of Prosperity/Fasten your seats, its going ... - 
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