In this time of economic struggle, I have heard many people say we are only going to lose more and that it is going to be harder than any other depression we have ever had... is this true or people just finding a way to describe their economic woes?
The west has been in recession since the early 1970's - the periods that economists and the media claim as any kind of "not being in depression" are just short spikes of apparent recovery.
There is a major flaw in world economics in its basic premise that the base quantity of all the economies will always continue to expand - patent bull@@it that nobody seems willing to address. This thinking arose in the dawn of modern economics with colonisation - where the base 'quantity' or sum total did expand. Colonisation is largely over - except for the American model of colonisation by franchise and 'global' companies.
It is time economists shed their super rich riders and tell it like it is and start planning for balanced economics where gobal corporations become unworkeable and local industry and business becomes the norm again.
The most simple and obvious example is the bacon in your superstore that grew in one country, got processed in another, packaged in another and sold in another. Versus the bacon in my local market that grows within earshot, is processed less than 1 kilometer up the road and is sold in my next door market. No vast quantities of fuel to drive it, train it, fly it, no overdose of suspicious chemicals to make it last long enough to get half way around the world, no corporation putting all the small players out of the game by underpricing until they have control of the whole market. Same goes for everything you buy and consume.
Interesting...I didn't know you could grow bacon. Why stop at buying local? Let's just ignore law order and property rights and live off the land as hunters and gatherers!
I sit here, laughing at the wording. I think to myself, "where can I get some of this bacon seed?"
I just can't stop laughing. Seriously.
Erm, where to get bacon seed, now let me think, erm, wouldn't be out of a boar would it?
Ohh... *frowny face* ... that's umm... Anyways, depressions in the economy are bad, and it doesn't look like the US is doing anything to solve their debts. In fact, they are trying to keep Japan's economy stable because they invested money over there, (Toyota, Honda, etc.)
So, unless a genie comes along and came magically erases the trillions of dollars in deficits, I think that the US will be in this depression for a long time. But, hey, it is all matter of supply and demand, and the supply is dropping like a rock...
I have to say it is worse than ever; the governments have a very twisted set of priorities and their first priority is POWER. The U.S. government says we're broke, but, continue to print money to fund an illegal war we cannot afford, they continue to cut funding to programs designed to keep our elderly and disabled taken care of, and off the streets, but, somehow manage to shit a few million to send to foreign countries under the guise of 'foreign aid'.
When a government's priorities mean outside nations' welfare takes precedence over their own countrymen, it's time to get rid of them.
Remember, politicians are like diapers; they must be changed often and for the same reasons.
That is what analysts are saying so that the general public aren't scared into withdrawing their stocks and cashing out.
It all actuality, the entire world is in a depression. Global markets are dropping and there isn't anything anyone can do about it. But, if the general public knew about this then consumer spending would decline and then the US and world economy would be in big trouble.
To answer your question Phoebe, yes. The "great" depression of the thirties has an impact but, mostly on the US. This depression, recession, (whatever you want to call it), is having an impact on the world. Our connectivity is slowly killing us, due to the fact that not all economies are created equal.
The Great Depression was the first recession that the government stepped in to try to fix. It lasted for 2 decades.
This Depression (no, it's not a recession - all the words mean the same thing. They used to be called "panics") the government is trying to solve everything once again.
But this time, the Fed has been keeping interest rates at 0% for well over 2 years now, and there are no signs of the rates increasing.
In so doing, the money supply has more than Quintupled in under 10 years.
Things are going to go horrible.
I think the word "depression" originated from pressing into a flat surface and creating a dent. Now - going from the higher level of a flat road into the dent, that is what is referred to as going into a depression.
The little picture makes one assumption, the assumption of always being a way out of of the dent, out of depression. Is that so?
I don´t think so. What if there is no dent but the whole economic road is permanently deformed (lets say by other emerging economic heavyweights like China or India). Then of course the dent, the depression pit cannot be filled with monetary means to ease the way out of the depression.
Signs are strong that things will not recover. So this is no depression, no bump in the economic road, it is a permanent situation and better adjust to it.
by kerryg 8 years ago
Funding for our country's children is being cut, but we allow a hedge fund manager to make enough money to pay the salaries of every public school teacher in New York City. Most of his earnings are taxed at a rate less than that of his secretary.We haven't been able to do anything about it because...
by MikeNV 8 years ago
"WASHINGTON (AFP) – The US economy is "gradually" improving after the financial crisis, US Treasury Secretary Timothy Geithner said in an interview on NBC News' "Meet the Press" program, to be broadcast Sunday."Gee that means a lot coming from the incompetent...
by lady_love158 7 years ago
http://spectator.org/archives/2011/05/1 … economics/Sadly too many here believe as Jesses Jackson Jr. does. Luckily for us they aren't in congress too. His ideas teach us a couple of lessons, that elected and educated people in government are not the best and brightest nor are they correct...
by Doug Hughes 8 years ago
In 20 years, the history books will call this the 2nd depression. We are in a liquidity trap, according to Paul Krugman, nobel-prize economist. That’s central to the problem. “The term liquidity trap is used in Keynesian economics to refer to a situation where monetary policy is unable to...
by wacknuts 8 years ago
And what does it mean for us?
by Castlepaloma 3 years ago
If you think this government is working. Please explain to anyone why the average person earns less wages today, than 35 years ago? Why is the cost of living gone up ten times? Most people do not like their jobs or find it unsustainable along with housing and dealt. It gets worst, by the time...
Copyright © 2018 HubPages Inc. and respective owners. Other product and company names shown may be trademarks of their respective owners. HubPages® is a registered Service Mark of HubPages, Inc. HubPages and Hubbers (authors) may earn revenue on this page based on affiliate relationships and advertisements with partners including Amazon, Google, and others.
|HubPages Device ID||This is used to identify particular browsers or devices when the access the service, and is used for security reasons.|
|Login||This is necessary to sign in to the HubPages Service.|
|HubPages Traffic Pixel||This is used to collect data on traffic to articles and other pages on our site. Unless you are signed in to a HubPages account, all personally identifiable information is anonymized.|
|Remarketing Pixels||We may use remarketing pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to advertise the HubPages Service to people that have visited our sites.|
|Conversion Tracking Pixels||We may use conversion tracking pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to identify when an advertisement has successfully resulted in the desired action, such as signing up for the HubPages Service or publishing an article on the HubPages Service.|