General Discussion

coalition_unwilling

(14,180 posts)

18. Meh, I prefer 'stagnation' or 'dead-cat bounce'. IIRC, the Great Depression

Reply to cthulu2016 (Reply #17)

Thu May 31, 2012, 11:23 AM

May 2012

saw GDP (called Gross National Product, or GNP, back then) contract by some 20% (hence 'Great'). National unemployment rate was 25% in January, 1933, when FDR took office. When Obama took office, we faced the very real threat of depression, no matter whose definition we use.

I just resist using the word 'depression' when GDP is actually growing.

But I understand where you are coming from and think I somehow acquired my definition of 'depression' from Macro Economics 101 (or maybe Industrial Organization and Public Policy, another macro econ course I took many years ago).

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"We are in a depression." [View all] cthulu2016 May 2012 OP

I call "bullshit" MannyGoldstein May 2012 #1

Manny... I'm gonna start my own bank! Bigmack May 2012 #2

Kids, send those green pictures of dead presidents hifiguy May 2012 #4

He got into a bit of trouble for that DearAbby May 2012 #7

*SNORT* Odin2005 May 2012 #23

excellent post! robinlynne May 2012 #3

Nice post, I disagree. n/t Tripod May 2012 #5

You can't donheld May 2012 #8

I'm tired. Tripod May 2012 #9

When you are tired and your world is spinning, Quantess May 2012 #10

sounds easy, thx. Tripod Jun 2012 #33

I don't know if Krugman was free-styling here, but we are NOT IN A DEPRESSION! At least, coalition_unwilling May 2012 #6

Working class people more likely care about unemployment numbers at this rate. Selatius May 2012 #11

I'm certainly 'depressed' about my personal situation and I'm coalition_unwilling May 2012 #13

Agreed, I dont know what Krugman is trying to say here. DCBob May 2012 #12

He is not suggesting the numbers are bogus cthulu2016 May 2012 #19

By any measure, there is no comparison to the Great Depression. DCBob May 2012 #25

Maybe he is telling us that even if the 1% are doing so good - the 99% are in a depression. I have jwirr May 2012 #30

Then you are, by definition, depressed. Bake May 2012 #15

Yup, good one. - n/t coalition_unwilling May 2012 #16

There is not really an "as economists use the term" cthulu2016 May 2012 #17

Meh, I prefer 'stagnation' or 'dead-cat bounce'. IIRC, the Great Depression coalition_unwilling May 2012 #18

What's tricky about that cthulu2016 May 2012 #20

Very good points FogerRox May 2012 #27

Totally get where you and Krugman are coming from (I think), but maybe coalition_unwilling May 2012 #29

I think the two are probably different categories cthulu2016 May 2012 #31

Man, I know when I've been schooled and this is one such coalition_unwilling May 2012 #32

The economic contractions between the Civil War and World War II... Xolodno May 2012 #24

UR right on GDP, but looking at unemployment..... FogerRox May 2012 #26

No, we're in a robbery. nt woo me with science May 2012 #14

you nailed it, as always. magical thyme May 2012 #21

It's not a depression when there's a small concentration of people hoarding the world's wealth! Initech May 2012 #22

I'm in a depression azmom May 2012 #28

me too! Tripod Jun 2012 #34

get rid of this post! Tripod Jun 2012 #35

To late now! Tripod Jun 2012 #36