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Are we in a recession...
I heard a joke ( if you want to call it that) it goes ... A recession is when your neighbor loses his job. A depression is when you lose your job. The dictionary definition of recession...Definition: A recession is defined to be a period of two quarters of negative GDP growth. I may be wrong but I believe this country is definately in a recession headed towards a depression. The experts warn of a recession but if you ask any everyday individual they will tell you that the United States is in a recession. Some will go as far to say that this country is in a depression. Back in December of last year, CNN did a poll to which 57% of Americans thought we were already were in a recession. Come on now. That was way before gas shot to $3 a barrel. This economy has been slipping since 1999. Most economists want to say that we, the American public, are ignorant and don't really know what a recession is. But to the working individual recession means hard times and that's what has befallen this country. Hard times may not be the best adjective to describe what we are all going through. I've seen hard times. This is becoming unbearable. Everyday, the price of oil goes up. Which inturn causes the price of gas to skyrocket. Which inturn causes the price of food and everything else to go up. This is not an "economic slowdown" as some like to call it. Those who really think that this is a slowdown need a reality check. Fast. Truckers can no longer afford to drive their eighteen-wheelers and neither can most Americans. They say we should start using public transportation. Cool. But what if you are like me? You live in the country miles away from everything. Not all of America live in the city. Some chose to move to the country or suburbs to get away from crime and violence. And now look at us. We can't really afford to drive such long distances. Slowdown? This is a full blown recession. The housing market is at its lowest it's ever been. Big companies like Citigroup, GM, Ford and many others are laying off workers by the thousands every week. Gas keeps going up daily. The cost of food is steadily rising. And now with the floods in the midwest, food is about to go up even more. Economists are now saying that problems are no longer restricted to just housing and manufacturing.One economist had said he doubted that the U.S. was in recession a week ago, but now he believes there's about a 75% chance that a recession began in January. "January" most of the public believed that we were in a recession in December of 2007. We know what it means to be in hard times. When working idividuals are squeezed hard enough, then you have the possibility of a genuine recession as technically defined. People buy less, spend less and drive less and the economic growth slows to the point where everyone will have to take notice. And that's exactly what is happening. The economists who were slow to say we are in a recession are now eating crow and saying "Yes America, we are in a recession". I say tell us something we didn't know nearly 7 months ago. |
http://www.progress.org/2008/experts.htm
| http://www.cnn.com/2008/POLITICS/03/17/poll.national/index.html
| http://www.progress.org/2007/cook04.htm
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Great intel, I believe the same applys to the U.K. Shame about the joke, could be classed as black humour though.
Mouse attacks, I agree with you 100%. I have heard some say that we are in the beginning of the Greatest Depression, how scary is that. Everyone I know does not see any signs of recovery that is for sure. I started getting into politics when 9/11 happened and now I am starting to see how insane our system is. Our whole system is based on debt spending and it seems like it is unsustainable. I started learning about Austrian economics and starting researching Ron Paul who is a huge advocate of it. His view seems more believable. We need some serious change in our system.
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