Editorials & Other Articles

dawg

(10,622 posts)

7. I can see why some might think the term "depression" is overblown, but ...

Tue Dec 13, 2011, 09:43 AM

Dec 2011

The jury is definitely still out.

The austerity measures in Europe will be a disaster. At best, they will double-dip into another recession. The worst case is severe recession coupled with breakup of the euro and major political unrest.

If the US chooses to follow the path of austerity, we too will double-dip into recession. We might do so regardless, depending on the severity of the downturn in Europe.

For some reason, the Europeans (Germans), the Republicans, and Centrist Democrats have all concluded that FDR was full of shit in the 1930's and that Hoover had it right all along.

We do have a long-term budget problem that needs to be dealt with. But in the short-term, the economy still needs stimulus.

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Highlight:

Paul Krugman: We're in "a Depression" [View all] Rurik_A Dec 2011 OP

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