Regardless of definition, do you believe we are in an economic depression rather than a recession?
I'm afraid that how each is defined is the best...no...the ONLY way to even begin to analyze the economy BASED on the definitive criteria for each. How do you distinguish between two different entities but by establishing those criteria, and in so doing, *defining* said entities?
I am not naive and although I am not into political/historical aspects or debates but from my standpoint I see this as a ecnomic depression & there is no bouncing back from this....as the political people tell the U.S. citizens, it's not a recess
I agree with @stanwshura. You have to define your terms, otherwise you have nothing to talk about.
Personally, I think we're in a depression -- a manufactured event.
There are some very powerful people who don't care about America and what it used to stand for. The Rockefellers and Rothschilds, for instance, don't want borders. They want one world government. I used to think this was a good idea -- like Star Trek's Federation. But one-world government means no escape when the leaders are not so altruistic.
It started before America was born. The Rothschilds were honing their skills of coercion and subterfuge -- financing both sides of wars.
Fast forward to the 20th century -- 1913 -- the creation of the private Federal Reserve bank (owned in part by the Rothschilds). The R's finally had their central bank in America. Every major downturn could've been prevented, but the Fed made some of them worse. The Fed could've released more cash during the Great Depression, but held back to deepen the problems America faced. This gave the government the "justification" to take people's gold. What a con job.
And 9/11 gave our lovely government the excuse to do away with many of the remaining liberties. All of the insane military spending on baseless wars is making the depression even deeper as the debt skyrockets. When will that bubble burst? Perhaps somewhere between $16-30 Trillion.
We have a chance to save our country, but the Corporate Party media kool-aid is poisoned against people like Dr. Ron Paul. President Paul could fix all this with help from Congress, but they don't want America saved. There is no room in the New World Order for sovereign nations. Just ask George Bush (both of them) and David Rockefeller. All kinds of treason brewing there,... and they're not done, yet.
The rules are always changing, and it is not so much the rules but the circumstances that tells us if we are in a recession or depression. I think as a nation we are in a recession. I think in some areas a depression may be looming. I have a friend who is the publisher of a small-town newspaper. It was a textile town at one time, but all the plants were moved overseas. There was hope that a car plant would move there, but they are not built overnight. My friend was faced with the problem of meeting payroll. He could let five people go, and he could then have trodden along. He and I both work for the same boss at one time, who I described in my hub "The Best Boss I Ever Had." My friend found a solution. He call everyone together and explained the finances and said he could lay five people off or everyone could take a five-percent cut in pay, including himself. They voted on slips of paper right then and there. By a unanimous vote, everyone agreed to the pay cut. So the five people kept their jobs. I tell this story to show what a little imagination could do to help some companies keep their employees at a decent salary and still survive this recession. If more companies did the same thing, and if people were willing to give up a little, more people would be working, and fewer would be drawing unemployment checks.
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