is it a recession or a depression

[Don Quixote]

how long before the government or some important organization announces that we have moved from a recession to a depression

the doom and gloom boys seem to think that our current 'downturn' will last though 2009 and into 2010

i hope that BO's people can at least put the brakes on the downturn before the next by-election

of course if the world economy breaks out of the downturn, the price of oil will and food will go up

oh, by the way, the prediction is that the price of food will not decline but continue to rise

oh well

 

[Obfuscate]

Won't be close to the depression, may be as bad as the late 70's stagflation but differant circumstances.

 

[a11n]

its not a depression nor a recession....this is yet another dead thread by you, my friend.

 

[Don Quixote]

its not a depression nor a recession....this is yet another dead thread by you, my friend.

perhaps, but over 4,000,000 officially unemployed is a wee bit too many

i never said that a depression on the order of the great depression would occur, but unless a turn around happens within a year, things will be quite bad - so bad that more WPA type projects may be needed


the automakers are looking for give backs by the unions and cutting production/jobs on a large scale

where will the jobs for the unemployed come from

state and local governments are looking to cut services to balance their budgets which means more unemployed or under employed

oth, our older daughter's job looks secure and she just bought a house - our older son's business is still afloat and while the house he bought is not worth what he paid for it, he is able to meet his payments

the boggy man on the horizon is likely stagflation or a whopping bigger deficit

then the wars - still costing about $1,000,000,000 a week plus the human losses are slated to go on for about a year and a half in iraq and no end in sight in afghanistan

even if the government decides to bailout (with loans) the automakers, there will be significant job losses

 

[uscitizen]

It is gonna get worse before it gets better.

 

[Don Quixote]

It is gonna get worse before it gets better.

you are such a ray of sunshine, but correct

at least the price of energy has gone down

 

[cawacko]

you are such a ray of sunshine, but correct

at least the price of energy has gone down

he is going out on a limb because no one else in America is predicting things might get worse here. He's really sticking his head out there. A bold prediction one might say.

 

[Damocles]

I'm still trying to decide whether I should move all the Lodge's cash into Bonds. I always knew I put my own at risk in the market (I still have a long way to go before I show actual loss from original investments), but the Lodge's... Well, it isn't my money...

 

[Don Quixote]

I'm still trying to decide whether I should move all the Lodge's cash into Bonds. I always knew I put my own at risk in the market (I still have a long way to go before I show actual loss from original investments), but the Lodge's... Well, it isn't my money...

they must trust you, so act within that trust

oth, i am a lousy investor, but then i think that i was correct about buying when the market dropped below 8000

i think that you are a much better investor than i am so go with your knowledge or gut but maybe a little on the conservative side

best of luck, i think the brethren will be satisfied with your choices

 

[Topspin]

its a depression if your a finance guy in NY or a HS diploma computer tech from KY

 

[uscitizen]

he is going out on a limb because no one else in America is predicting things might get worse here. He's really sticking his head out there. A bold prediction one might say.

LOL, just stfu, I saw this coming when you said all was rosy and I was stupid for saying it.

 

[uscitizen]

its a depression if your a finance guy in NY or a HS diploma computer tech from KY

That is a comfortably retired small business owner in KY now

 

[Chapdog]

Well the book definition I learned in economics way way way back in 1993 would be 2 consecutive quarters or more of negative GDP is a recession. 10%+ drop in GDP is a depression.

But since everyone's saying we have been in recession since 2007 I guess that definition changed just like the definition of marriage.

 

[Topspin]

I think the liberal economist declared it, to keep it Bush's and Not Obama's.

 

[Chapdog]

I think the liberal economist declared it, to keep it Bush's and Not Obama's.

Id say the recession began somewhere in Q308 and will last till Q209.

 

[Topspin]

q3 was the first negative qtr, and q4 would be the second.
It would still be Bush's thought moronic nazi cons could argue that it was apparent Obama Nation was on it's way.

 

[uscitizen]

Id say the recession began somewhere in Q308 and will last till Q209.

We will be darned lucky if we have hit bottom by Q209.

 

[Chapdog]

We will be darned lucky if we have hit bottom by Q209.

if we invest 700B into state ready to go jobs like obama was talking about yesterday i think its definitely possible. I just need to look into investing into metal futures and construction companies.

 

[uscitizen]

Ohh we may be able to technically be able to "credit card" buy our way out for a quarter or two. But we will drop right back if we do not work on the real causes.

 

[Chapdog]

Ohh we may be able to technically be able to "credit card" buy our way out for a quarter or two. But we will drop right back if we do not work on the real causes.

Nahh we will come out and go to bull market by 2010 then prob another recession down the road. Id like to see us really focus on Alt energy and bio tech. It could be the next golden age for America. A chance for us to be manufacturers again.