The U.S. economy’s vital signs may not confirm a diagnosis of depression. The symptoms increasingly point to one.
As in the Great Depression, world trade is collapsing, wealth is evaporating and the banking system is broken. Deflation is a growing threat as companies slash production, pay and prices. And leaders worldwide are having difficulty making headway in halting the self-perpetuating decline.
“We are tracking 1929-1930,” says Barry Eichengreen, a professor of economics and political science at the University of California, Berkeley.
The result: This contraction may leave a lasting imprint on the economy and society, just as the Depression did. In the wake of the devastation of the 1930s, Americans swore off stocks, husbanded their own resources and looked to the government for help. Now, another generation might draw some of the same lessons from the deepest economic collapse of their lifetime.
“This is going to scar the collective psyche,” says Mark Zandi, chief economist at Moody’s Economy.com in West Chester, Pennsylvania. “People will become much more conservative in borrowing, lending and investing.”
There’s no official definition of what qualifies as a depression. In the 1930s, the unemployment rate rose to 25 percent and the economy shrank by more than a quarter.
March 9th, 2009 at 11:09 am
Maybe what will define this as a depression, is when the American people get fed up enough, to grow some balls and hang these elitist bankers, by the biggest tree. America will be over joyed, and the bankers will be depressed.
It’s a win win in my humble opinion.
xxplanetpprojectxxx Reply:
March 10th, 2009 at 2:10 pm
http://www.youtube.com/watch?v.....annel_page dire predictions 2009
March 9th, 2009 at 12:11 pm
Change is unavoidable, it’s simple….you can prepare the best you can and then relax. The Earth is going to experience severe changes brought upon buy the collective negative energy created by billions of scared people. Is it just me or does anyone else out there feel we actually create earth changes (earthquakes, floods, etc…) ? I thought we had figured that much out…..we are here to evolve in case you’re not aware, not here to fight
Temp Behold Reply:
March 9th, 2009 at 8:01 pm
The evolution of man on planet earth is a pretty weird thing. Esp. the evolutionary period in the company of MONEY and its companion holy PYRAMID producing deserts where it used to be lush and green.
March 9th, 2009 at 1:14 pm
nothing is going to change until the American people can put their petty differnces aside and focus on freedom. After all it’s freedom that gives us the right to bicker among ourselves about our petty differences.
March 9th, 2009 at 1:44 pm
Hate to sound like Dr. Dooms Day, but can not help and say that so far all we have seen is repetation of the same old mistakes that dragged us all in the mess in the first place.
Without economic emancipation of the man in the Main Street, bailing out of Wall Street and the Auto Industry is like watering the plant after cutting its roots off.
There is still tike to rectify the mistakes, but time is running out real fast, so please do the right thing for once and for a change.
March 9th, 2009 at 2:04 pm
I think first the insolvency problem needs to be addressed. This means that “off balance sheet” junk needs to included. Since this is going to take a lot of time, no one knows what is going on with these sudden huge liabilities that will appear.
Meanwhile party on big execs! The bailout will pay for your prostitutes on your corporate cards!
March 9th, 2009 at 2:33 pm
Until we evolve as a species, the only tool in our belt is revolution! Fight fire with fire at the NWO!
March 9th, 2009 at 3:11 pm
Girls will suck you off HARD. Just click below:
http://www.suckmeoffhard.com
Thom Reply:
March 9th, 2009 at 5:37 pm
Spam, and off topic, where are you moderator?
Temp Behold Reply:
March 9th, 2009 at 8:05 pm
Let em blow off steam why panic? Sorry about the ….whatever.
March 9th, 2009 at 3:25 pm
http://www.vagina.com
Thom Reply:
March 9th, 2009 at 5:38 pm
Get lost.
March 9th, 2009 at 4:03 pm
Have any of you ever wondered why the pyramid symbol has the cap stone missing?
Why is everything speeding us so fast it is like the foot is flat to the floor?
Why does it say this in the bible?
Revelation 10:6 And sware by him that liveth for ever and ever, who created heaven, and the things that therein are, and the earth, and the things that therein are, and the sea, and the things which are therein, that there should be time no longer:
Why did the Mayans choose Dec 21 2012?, if the long count of 26,000 years only refers to the completion of one circuit around the universe, which it does. So why choose that point in the circuit and call it the end???? The Earth does not stop, it continues and does yet around trip around the universe. So why pick a point in the circle and label it the end??? It’s obvious, something happens at that point in the circuit.
Are you all aware that this planet is only warm for about 10,000 years out of ever 100,000 years and we are well over due to go back into an ice age and in fact if you find the real facts you will find it is already happening and has been for some time. The planet was much warmer 6-10 thousand years ago. Do you know that ice ages happen suddenly, not gradually?
What are you all missing? You are missing the fact that all of these secret groups are not different groups but one group working towards an outside agenda. The over lords are returning and they want you chipped or dead.
March 9th, 2009 at 4:51 pm
The times that we are facing now are for sure the most serious since the great depression. But do not get it confused my friends. The Great Depression of the 1930s is completely different than the one we are about to be in in this day and age. Reason being is this, in the late 20s and early 30s people didnt have credit cards our great nation was not in TRILLION dollars of debt people did not take out a 2nd mortgage on there homes because if they did they would have been considered losers that had no money and finally back then after the war we had a solid base for this nation to climb its way out of the depression with the manufacturing industries……
Now, that compared to the present day and the crisis we are in lets see. Everyone has a credit card with debt, the majority of people have taken out a 2nd mortgage on their home, our great nation is in the most debt ever in its history TRILLIONS of dollars with a war that is continuing to add to that number each and every day. But the worst part of all is that we do not have anything to help us climb out of this crisis. Our manufacturing industries are basically folding or on the verge of “the big ones atleast”
Point being that everytime I see these “economist” on the news saying “Oh we have been here before in this country and we will get out of it like we did then” well I hate to tell you but they are idiots. The only comparison to make is that unemployment is not as bad as it was in the 30s. But if thats all that our so called leaders look at to consider it a serious problem then as we already know we are in a world of shyyyt.
Understand that what we are on the verge of entering is by far the worst at any point in time in our history. The way we continue to just print and print and print money not to mention money we do not have is def. phucking us up and be prepared for the shyt to hit the fan mates. Right now we basically have one foot in the sea of hell and by the end of this year I would not be surprised if we are floating away in it. So please try and spread the word to people you know and dont know bring up conversations at bars out with friends etc etc. Because as sad as it sounds people or i should say the SHEEPLE do not know what is coming and when their mainstream media decides to let them know then it will be to late for them to be atleast somewhat prepared……
Follow facts NOT fiction!
And brace yourself and save what you have now for “The Greater Depression”
Cheers!
Temp Behold Reply:
March 9th, 2009 at 8:03 pm
Wow change awesome.
March 9th, 2009 at 5:36 pm
you are a very inarticulate person, learn how to put your thoughts into sentences that make sense. Man O’ live.
LOOK Reply:
March 9th, 2009 at 8:01 pm
Fuck you—-why don’t you just take notice of what I said—– Alex is C-I-A
March 9th, 2009 at 7:26 pm
a depression is a minimum of three years of negative 10% growth. I personelly don’t think we can define what we are in as a depression, however, the financial systems, housing market, and businesses are falling at such a rapid rate, I wouldn’t be surprised if we end up in a depression in less than two years. The jobless rates are off the hook and are going to continue to rise even faster, no one doubts that
March 9th, 2009 at 8:46 pm
I wonder what its going to take for people to get their heads out of the sand and stop making excuses by saying oh its not true or what can i do? I dont know why they cannot figure out that if we all stand together and confront these jerks they would be outta there. Instead people are too busy watching t.v. football etc. I wish so much i could explain to people when they say what can i do that if we all stop saying that and do something it would not happen. I do not get it…people tell me they dont believe it, or i am a conspiracy nut, or what can i do? I DONT GET IT! Its like are you blind?? All we gotta do is get together and chuck em out of office….
global plantation serf Reply:
March 10th, 2009 at 5:26 am
It’s the mass media mind-control. It works well. The Illuminati (for lack of a better name) have been honing for years:
http://educate-yourself.org/cn.....ov07.shtml
People simply can’t conceive of such evil. If you tell them about it they will think you are crazy. Look up Bohemian Grove too. Don’t stop digging for the truth.
“…and he who has no sword, let him sell his garment and buy one.”
– Jesus Christ, Luke 22:36 NKJV
March 10th, 2009 at 5:54 am
I,m afraid most americans are now brain dead and can,t see the train wreck coming.There are some of us who will take a stand and go down fighting but sorry to say,most people will just blindly follow the system that feeds them,tells them what to drive,how to live,our children have been dumbed down and expect the government to supply all their needs,no self reliance….but we shall see….
March 10th, 2009 at 12:21 pm
Dow Jones up 310 points as of 3:20 pm today (Tuesday, March 10, 2009).
Toronto stock market (TSX) up over 200 points.
I guess that won’t be reported here though – just the doom.