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OT depression?????

Are we heading into a depression


  • Total voters
    14

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bouwob

Active member
Administrator
Aug 7, 2008
4,612
0
With the market dropping another 370 points today and the rest of the world falling the trend, what do you guys think? the Asian markets have started to open and are dropping big time already. What do you think?

http://money.cnn.com/data/world_markets/
 

hofautos

New member
Aug 29, 2008
6,678
0
After the elections, and after the housing market bottoms out (its not there yet), things will turn around...
 

Philip J. Fry

Well-known member
Aug 9, 2008
5,774
394
Ohio
It doesn't help that when the stimulus plan was announced, Bush told the American people to spend the money instead of using it to pay bills. If I can find a link or video/audio clip of that, I'll gladly post it.
 

Austin

Well-known member
Aug 7, 2008
5,706
41
Dallas, Texas
Anyone who answers yes to the poll does not remember basic high school economics. :ugeek:

A depression is a major economic catastrophe not seen since the 1930s. There are too many government and social safety nets now to prevent another depression.

A recession, which is what the original poster most likely meant, is a normal downturn in the business cycle. (early '80s, early '90s, briefly in the early '2000s and possibly imminent.)

Some economists call a recession "falling down" and a depression "not getting up."
Even though the economy is bad now, we are not yet even in a full-blown recession, and nowhere close to a depression.
 

bouwob

Active member
Administrator
Aug 7, 2008
4,612
0
depression is the buzz word today. I have no doubt that we are already in a recession (weather it meets the official definition or not) (and I am sure many agree) was just wondering how far you think it might go. job losses are continuing to grow, banks are still not lending and the bailout which was suppose to provide a bump had the exact opposite effect.
 

mredsox89

New member
Aug 29, 2008
8,724
0
Miami/Boston
bouwob said:
depression is the buzz word today. I have no doubt that we are already in a recession (weather it meets the official definition or not) (and I am sure many agree) was just wondering how far you think it might go. job losses are continuing to grow, banks are still not lending and the bailout which was suppose to provide a bump had the exact opposite effect.

The bailout will not be felt for a little bit as they have not yet used the $. The government has been approved to do it but has not done it yet
 

Austin

Well-known member
Aug 7, 2008
5,706
41
Dallas, Texas
bouwob said:
depression is the buzz word today.
Depression is the buzz word amongst the ill-informed and economically naive. (No offense)
The unemployment rate would have to skyrocket to 25% for us to be in a depression.
Economists forecast we'll be at just over 7% next year; far from a depression.
Today's CNN/Money poll shows just how naive the public is about the economy and how it works.
Please look at the poll, then read the reaction by the economists: http://money.cnn.com/2008/10/06/news/economy/depression_poll/index.htm?postversion=2008100616
Yes, the economy is horrible, the worst in a few decades, but we're not headed for a depression.
 

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