depression?

[chuckybrown70]

i looked up the definition of a depression, and it seems like we are in one. i am surprised they could shrug the GDP number off so easy. i hope business owners are preparing properly, this thing is clearly getting ugly

this is the definition:
In economics, a depression is a sustained, long downturn in one or more economies. It is more severe than a recession, which is seen as a normal downturn in the business cycle.

Considered a rare and extreme form of recession, a depression is characterized by abnormal increases in unemployment, restriction of credit, shrinking output and investment, numerous bankruptcies, reduced amounts of trade and commerce, as well as highly volatile relative currency value fluctuations, mostly devaluations. Price deflation or hyperinflation are also common elements of a depression.

 

[S2007S]

I believe its a lot worse than what they are saying, it took them until November-December of 2008 to realize the economy was in a recession, I really believe we are headed into a depression. There is just no way I can see the US spending Trillions of dollars to prop up a failing economy and succeed in only a few months by creating new jobs and new means of economic growth, its just not possible.

 

[thriftybob]

The Fed and govt, both parties, have lied to us at every turn so far, so therefore I see no reason to trust them now.

Just like the recession that wasn't for a whole year, we are likely in a depression that is equally not going to be admitted, already, I think. The only thing keeping anything alive is the Fed and Treasury printing money with wild abandon for the govt to borrow. Another ponzi scheme, LOL, and its the boomers expecting SS money that will eventually be the suckers.

A friend told me he and wife went into a restaurant a week ago in the evening, and both the waiter and piano player told him they were the only customers so far that WEEK.

If that's not a depression, I don't know what is. He is from CA.

 

[chuckybrown70]

a depression is defined as negative growth.

we are in negative growth, so where is the depression.

funny thing is i am not scared of a depression. gonna make everything affordable again. let deflation really get started.

only people who benefit from a boom are already rich people, i am not, so i am ready to even the playing field.

FUTURES ARE UP!!

bull market here we come.

 

[[Proximo]]

STW +5%, HSI +4%, SPI +3%

TO DA MOON !!!!!

 

[Podimer]

i reckon it depends on the definition used as there is no solid one for depression, the well defined word "recession" coined after the 30s depression. i found a definition that said "a decline in real GDP that exceeds 10%, or one that lasts more than three years." with that, we ain't quite there yet but with the other equally valid definition put forth by chuckie brown, seems like we are way into it.

 

[wildfirepow]

World War II helped the world get out of Great Depression 1930.

High population is the root cause of never-ending financial crisis because it pushes the prices sky-high. Remember the basic rule Demand and supply.

Russia, China and India are forming an alliance to destroy USA dollar and create the New World Order.

Do we need World War III for world dominance and to end world sufferings?