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Reply #57: well, even if you use the GDP deflator as mentioned before [View All]

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Home » Discuss » Archives » General Discussion: Presidential (Through Nov 2009) Donate to DU
mkultra Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Apr-08-09 02:55 PM
Response to Reply #54
57. well, even if you use the GDP deflator as mentioned before
it still closely follows the CPI and we are NOT near 1930's levels. We are in a recession. Of that there is not doubt, But the jobless rate is no where near what it was and conditions and light years from those in the great depression.

The now does not look anything like then and i disagree with your statement regarding asking "any economist." I do agree that we are in danger of sliding more toward depression which is why we must act NOW.

Geihtners plan will work and hoping for inflation will drive us in deeper. What we need is some wealth redistribution from the top to the bottom. That is being accomplished by Obama. borrow money from the future to restart the economy, tax the rich to pay it back.

Tada!
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