Take heart...only 45 more days until the game changes...
Depression or Recession?
by lisavegas420 52 Replies latest social current
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Elsewhere
I can't wait until America has become an Obama Nation!
Dispite all of the recent gloom and doom, I can't help but feel optomistic of the future knowing that Obama is going to be President.
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choosing life
Definately a deepening repression. My husband lost his long time job twice in the last 2 repressions. It all matters if we are able to get through this one without job loss. It is still hard, but not near as much as when you don't know whre your next paycheck will come from.
I know Obama is wanting to help, but things are going to take time to improve. At least, we now will have an intelligent president who desires to help this country rather than exploit, lie and pillage it like the last one.
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hillbilly
yea...the Obama Nation...Cris Rock, Beyonce, Ludicris etc all on a nation wide WPA tour... Obama as the black FDR... I am looking forward to the ride. Oprah Winfrey and Martha Stewert doing segments on substinece gardens for the inner city and near suburbs.
Last Depression we had folks with manners... this time around it'll be more "Mad Max" than "brother can you spare a dime?"
Like the last depression...if you can KEEP a job or hold on to the farm or business you might mop up at the end. I see some bargains in real estate coming if you dont starve in the meantime.
Jeff
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lisavegas420
more things I remember....
Many of the things he told me, didn't apply to me at this time, but I'm glad I know....
He said, he has three children in college, all three are living in different states,...colleges that teach where they will be able to get a job when the graduate.
He said, I'm ahead of 90% . ...Most have one or a combination of issues that are and will probably continue to hold them back. Big percentage don't have a GED or Diploma. Many have felony's or drug and/or mental or health issues.
lisa
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slimboyfat
Choosing life called it! It's a repression folks.
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BurnTheShips
We turn into a deflationary depression, globally.
That is not going to happen with fiat currencies. They will run the presses 24/7 and throw money out of helicopters if they have to, the deflation is temporary. They will reflate through monetary policy. They are already doing this through rate cuts and bailout packages. They don't call the US Treasury Secretary "Helicopter Ben" for nothing.
BTS
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slimboyfat
They will reflate through monetary policy. They are already doing this through rate cuts and bailout packages.
Indeed which is essentially stealing from the Chinese who hold dollars. Will they stand for theft on such a massive scale?
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Big Tex
I agree somewhat with BTS. Deflation is part of this recession but what with the credit spree everyone was on, it's unavoidable at some level.
I don't think this will turn into the 30's Great Depression. This seems more like the mid-70's style recession, or even early 80's recession. I do think 2009 will be bad, but if, and that's a big if, if Obama's economic team can perform up to their paper, 2010 will see a slow turnaround. We didn't get here overnight and we're not going to get out overnight. -
slimboyfat
That is not going to happen with fiat currencies. They will run the presses 24/7 and throw money out of helicopters if they have to, the deflation is temporary.
Indeed which is essentially stealing from the Chinese who hold dollars. Will they stand for theft on such a massive scale? This is why I wonder whether war can be avoided.
