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Warpy

(110,900 posts)
14. You're buying that?
Tue Dec 13, 2011, 04:40 PM
Dec 2011

I have the advantage here. My grandmother kept a scrapbook all during the Depression and all during the Hoover years prosperity was just around the corner. I'm seeing the same thing here and now, any tiny positive sign in an otherwise dismal economic picture as proof we don't need to do anything but rein in spending and we'll all be rich again.

The movers and shakers are all claiming it's not Depression II because the stock market is still doing fine and the fact we're only losing a net 100,000 jobs a month is a lot rosier than losing 750,000 jobs a month when the Republicans were in charge.

The stock market is protected because it wasn't infected by the kind of debt that brought it down in 1929. They did that to housing, instead. It is infected by fraud that has spread out from the financial sector and it's not going to stay up forever. Maybe at that point it will get their attention.

Make no mistake, although we're not falling as fast as we were during Stupid's misadministration, we are still falling. Yes, it's a Depression. The only way out of it that has worked before is spending our way out of it. Austerity will only deepen it.

And don't kid yourself that the pablum in the press is proof that it's all over and prosperity is just around the corner. They're lying.

that is some scary stuff indeed Skittles Dec 2011 #1
Excellent Article jannyk Dec 2011 #2
Actually, all the evidence seems to be that we're crawling OUT of the recession at the moment. TheWraith Dec 2011 #3
Um, wut? Ruby the Liberal Dec 2011 #5
ditto -- Remember Me Dec 2011 #15
Yup. Corporations hording cash is not a sign of strength either Ruby the Liberal Dec 2011 #21
Right DeathToTheOil Dec 2011 #25
You're buying that? Warpy Dec 2011 #14
I have much respect for Dr K. Ruby the Liberal Dec 2011 #4
Du rec. Nt xchrom Dec 2011 #6
I can see why some might think the term "depression" is overblown, but ... dawg Dec 2011 #7
We seem to be following path of austerity, don't you think? dixiegrrrrl Dec 2011 #9
Economics 101 when 90% of a country's assets are in the lovuian Dec 2011 #8
K&R Odin2005 Dec 2011 #10
We have been in a Depression the last year & worst to be felt is coming in 2012. Pachamama Dec 2011 #11
Are you serious? Dan Dec 2011 #22
Yes, I am serious.... Pachamama Dec 2011 #26
Thank you,... Dan Dec 2011 #28
Good grief. Half a dozen post WWI Germany economies. bluerum Dec 2011 #12
Merry fucking Christmas! DeathToTheOil Dec 2011 #17
in fact, in the 20s Romania, Bulgaria, Yugoslavia, and the other new countries bankrupted themselves MisterP Dec 2011 #13
"there’s no Hitler in sight." ellisonz Dec 2011 #16
"ominous political trends shouldn’t be dismissed just because there’s no Hitler in sight." Maven Dec 2011 #18
I got really tired of all the Hitler/Nazi references... ellisonz Dec 2011 #19
Hail the oligarchs! n/t Jefferson23 Dec 2011 #20
Not if you're a banker or other member of the 1%. Then you're doing better than ever. MannyGoldstein Dec 2011 #23
wrong spelling. it's a depWession. pansypoo53219 Dec 2011 #24
k&r Starry Messenger Dec 2011 #27
Excellent read. blackspade Dec 2011 #29
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