Is America Close to New Great Depression?
Heisenberg
2012/07/17 20:00:00
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Richard Duncan, author of "The New Depression: The Breakdown of the Paper Money Economy," says that America is experiencing a new type of "Great Depression." Do you agree with him?
CNBC.COM reports:
CNBC.COM reports:
The risk of a new depression — a sustained, severe recession — has struck fear into the heart of markets and driven monetary policy in developed economies since the current financial crisis began.
Read More: http://www.cnbc.com/id/48193471
Until now
Are we heading into a New Great Depression ...WTF?
Where do you think we've been these past 6 years?
We were set up in 1999 by the "Gram-Leach-Bliley" Act’s repeal of the affiliation restrictions of the Glass-Steagall Act that was enacted in 1933 to help combat the then 3 year old depression. With a lame duck dumb ass Democrat President signing it into law, (Gram-Leach-Bliley) & an idiot Republican President running the ball 8 years then handing it off to a Who The Hell Are You President, hand picked by both parties to take the ultimate hit for Team Have Politicians (US Royalty) from Team Have Not Public (poppers)
Obama was a dufass for accepting the nomination, he had ZERO CHANCE of turning this massive crime scene around, ZERO. But he's probably the biggest idiot of the last 12 years for not conceding to Hilary before it was too late, that or he's getting a mighty big ...&
Until now
Are we heading into a New Great Depression ...WTF?
Where do you think we've been these past 6 years?
We were set up in 1999 by the "Gram-Leach-Bliley" Act’s repeal of the affiliation restrictions of the Glass-Steagall Act that was enacted in 1933 to help combat the then 3 year old depression. With a lame duck dumb ass Democrat President signing it into law, (Gram-Leach-Bliley) & an idiot Republican President running the ball 8 years then handing it off to a Who The Hell Are You President, hand picked by both parties to take the ultimate hit for Team Have Politicians (US Royalty) from Team Have Not Public (poppers)
Obama was a dufass for accepting the nomination, he had ZERO CHANCE of turning this massive crime scene around, ZERO. But he's probably the biggest idiot of the last 12 years for not conceding to Hilary before it was too late, that or he's getting a mighty big payoff for taking the role of president for the most miserable & worst four years in any political history.
But that's just my opinion, I'm sure to be corrected by some koolaid drinker from either side of the isle. lmfao
Learn somthing..
http://www.nber.org/
Last Four Recessions and their Durations
12/07 - 6/09 18 months
3/01 - 11/01 8 months
7/90 - 3/91 8 months
7/81 - 11/82 16 months
The NBER decides and has since the late 20's. its a FACT. Stop being ignorant.
this is not a depression ...this is not a recession
this is not a depression ...this is not a recession
this is not a depression ...this is not a recession
this is not a depression ...this is not a recession
Hmmm ...
Nope, didn't work, closed my eyes & clicked me heals too :( sad face
Lets try this,
this is not a depression ...this is not a recession ...this is a mugging
Yup, that did it :) happy face
I know I'm going to hate myself for asking this question ...but ...explain to me in your own words what it is then. And No, I don't want to go to your lovely nber.org site you posted, you put it in your own words as conclusion's from your own brain. You know, rely on what you see not what your told, rely on what you see outside of your shiny little neighborhood if you are brave enough to travel outside your own little manipulated shell. Be like Frodo, take a walk outside of the Shire.
Open your eyes, take a look around you, form your own opinion for once in your life then explain to me what you see or saw.
After that exercise, explain to me why you thought it necessary to call me a liar? However if my spidey sense is correct, your only about 11 years old & then you wouldn't have to.
You can do this on your own if you really really try really really hard. ;<}
Yours Truly,
Reality
Easy even for you I think..
Sorry Bro, sorry for your loss
Anybody who is unemployed is a lazy bastard right.
8 or 9 %, what a ditz, not even worth commenting on with a straight face.
No wonder this country, this world is in the shape it's in, too many dumb ass people out there.
Your loyalty is not to your school, or fave football team or your current employer or your party or your club, it's to your family & Country & countrymen, all of them.
You may have a good job now & a pocket full of money or solid credit, but unless you own Apple or Microsoft, what you think is giving you strength is nothing more than a dose of Viagra to an old man, and when your Viagra prescription runs out ...oooow weeee. Things are gonna change.
IT WILL BE CALLED THE "GREAT TRIBULATION".........MATTHEW 24:21-51
I do agree Romney is not a whole lot better. Today I think they are all alike, dem and republicisns
Hoover followed years of Coolidge mismanagement with attempts to balance the budget at exactly the wrong time. Hoover, implemented austerity out of fear of deficits. While Coolidge and not Hoover caused the recession by ignoring the plight of agriculture, the collapsing real estate bubble and the lack of wall street regulation Hoover made it worse by following classic Hylickien economics.
FDR found himself in a situation where all his thinking which was based in that same classical economics had to be thrown out the window. While much more flexible then Hoover he still in 1936 believed in a balanced budget and almost sent us into a double dip trying for one.
The parallels are obvious. The economic arguments are the same today as then. We must reject budget cutting or we will have a double dip and another great depression. The Ryan budget is the greatest threat to America since the Axis. It could send us into a tail spin that would be worse then the great depression.
Obama, much more so then FDR, has been to worried about a balanced budget. This is not the time for that. I have backed the idea of an upper income tax increase in the past. I now oppose that. I also oppose all budget cuts. We can not affor...
Hoover followed years of Coolidge mismanagement with attempts to balance the budget at exactly the wrong time. Hoover, implemented austerity out of fear of deficits. While Coolidge and not Hoover caused the recession by ignoring the plight of agriculture, the collapsing real estate bubble and the lack of wall street regulation Hoover made it worse by following classic Hylickien economics.
FDR found himself in a situation where all his thinking which was based in that same classical economics had to be thrown out the window. While much more flexible then Hoover he still in 1936 believed in a balanced budget and almost sent us into a double dip trying for one.
The parallels are obvious. The economic arguments are the same today as then. We must reject budget cutting or we will have a double dip and another great depression. The Ryan budget is the greatest threat to America since the Axis. It could send us into a tail spin that would be worse then the great depression.
Obama, much more so then FDR, has been to worried about a balanced budget. This is not the time for that. I have backed the idea of an upper income tax increase in the past. I now oppose that. I also oppose all budget cuts. We can not afford to cut social programs because more and more people need them. Cutting defense and space costs jobs. The rumblings and layoff announcements are already here. We need to spend more and accept larger deficits.
Federal grants to states should be increased.
However, it is true that we can not maintain these deficits. Therefor we should enact legislation to automatically raise taxes by 10% as soon as the unemployment rate has been below 5% for 6 months in a row. We need to fully implement Keynesian theory and bring down the deficit in good times and allow it to grow in bad. If we do not do this history says we will have another great depression or worse.