What is Digg?345 Comments
- muckemuck, on 03/19/2008, -24/+92So what plan does Obama have to get us out of this? How come he didn't say anything about this risk six months ago like.. oh.. Ron Paul did?
- Cryptocracy, on 08/17/2008, -23/+88And we don't need any socialists or war-mongers to help spend money we don't have.
- inactive, on 03/19/2008, -27/+80Don't blame me, I voted for Ron Paul. Enjoy your depression everyone.
- chocobomog, on 03/19/2008, -10/+62Breaking: 79% of people don't know basic economics and what the definition of depression is.
If they did, we wouldn't be in this mess in the first place. Instead, the majority of people spend more than they earn, and receive no-down-payment loans on overpriced houses that they will never be able to pay back. Recession is likely, depression is not. But most people don't understand the difference.
Odd that this depression talk happens the day after the Dow Jones had its biggest jump in 6 years. - blindhammer, on 03/19/2008, -3/+50To be honest, I don't even think most Americans know what a depression is.
- clintontj72, on 03/19/2008, -17/+52ummm...we already have socialist warmonger fascist tools spending money we don't have... :D
- inactive, on 03/19/2008, -2/+31Considering that this is a survey measuring the opinions of Americans as a whole, this wouldn't qualify as "Ron Paul Spam". Moreover, Ron Paul isn't mentioned anywhere in the article.
- khail250, on 03/19/2008, -5/+32this poll is meaningless since 20% of americans think the sun revolves around earth, others have no idea what depression means except for the zoloft commercials
- staxofmax, on 03/19/2008, -1/+22At one point President Bush had a 90% approval rating, and until recently a majority of Americans believed Iraq had weapons of mass destruction and that Saddam was involved in planning the 9-11 attacks. This poll, while accurately representing the unease Americans feel regarding the economy, should not be used a predictive metric for forecasting the future of the global economy.
- inactive, on 03/19/2008, -1/+22The author is from the Taipei Times. LOL Tapei isn't in Ron Paul Forums; It is the capital of Taiwan!!!
- Stevanoski, on 03/19/2008, -7/+27Depression is merely anger without enthusiasm - Stephen Wright
- juankovo, on 03/19/2008, -7/+26Someone on Digg yesterday said, "the Fed is running out of fingers to plug the holes in the paper dam they've built."
I really want to see the Fed collapse, but I fear that something even worse is waiting in the wings to be rolled out as soon as that happens, and Americans will welcome it with open arms. - juankovo, on 03/19/2008, -2/+21Ron Paul is hardly a "fruitcake." He's written multiple books on economic theory. Regardless of whether you agree with his views, understand that he has spent a lot more time thinking about the economy than you or Obama ever will.
- cusoman, on 03/19/2008, -1/+20And the percentage of the people that took the poll that actually have a grasp on even the most rudimentary economics concepts regarding all of this?
My guess is less than 2% - Thud, on 03/19/2008, -1/+20Q: "Do you think we're going to end up in a depression?"
A: "Well, that's what I keep hearing on the news, so, I suppose so."
Q: "I'll put you down as a Yes. Thank you for your time." - julialopez, on 03/19/2008, -6/+23I'm surprised only 79% are worried about one.
- RogerStrong, on 03/19/2008, -9/+26Which is why socialist countries like the Soviets, Chinese, and Nationalist Socialists (Nazis) never started wars, never killed their citizens, and never hurt anyone. Riiiiiiight.
- marc123, on 03/19/2008, -3/+20buried as irrelevant. this stat is merely a reflection of how bad the media has been scaring them
- SchnellFowVay, on 03/19/2008, -1/+15This poll is useful as a gauge of public opinion, but not as a sign of impending disaster.
The average person doesn't even comprehend basic economics -- much less the nuanced macro- and micro-economic causes and consequences of a depression -- or even a recession for that matter.
Moreover, public opinion is usually just a reflection of current media and pop culture. If the talking heads say we are headed for recession, then dammit, the public thinks we are in recession.
This isn't to say we aren't either verging upon or wallowing in a recession. Nor is this to say that a depression is impossible. What I am saying, however, is that most Americans know jack about economics. There are numerous positive economic turns going on daily -- they just get overlooked.
Yesterday Visa Corporation completed the most successful IPO in history -- besting even Google's old record. The stock markets have been on a rather fervent upswing since government-backed buyout of Bear Stearns. The US currency woes seem to be bottoming out (unless China or Saudi Arabia unpegs -- then watch out!). Even the mortgage crisis, while certainly the worst in history, seems to be bottoming out. Unemployment is still about 40% lower than it was during the Dot-Com bubble burst.
All I'm saying is this: Because some random idiots on the street think the sky is falling is no reason to become chicken little yourself. See our current situation for what it MOST LIKELY is: The verge of a moderate economic recession. - d3lta, on 03/19/2008, -3/+17Depression? There maybe housing and credit crises, but there certainly isn't a depression. Read up on Japan and Australia, they went through the same thing. Housing slumps take a long time to get out of, but if you're hoping for a great depression, you can keep hoping, its not coming anytime soon. A recession on the other hand, is probably in full swing apart from its technical definition, which might just also be satisfied after all quarterly results come in.
- juankovo, on 03/19/2008, -0/+13Why save for retirement when you're on the top end of the largest Ponzi scheme ever perpetrated?
- blindhammer, on 03/19/2008, -2/+15The history of the Fed and the economy is so batty, that most Americans believe it to be fringe. I mean, some bankers meeting on a secret island then pushing through legislation during Christmas break? The 16th Amendment probably not properly ratified?
It's batty. It may be true, but it's batty.
Americans don't like people in power talking about "odd" things, even if what they are talking about is true. - RogerStrong, on 03/19/2008, -2/+14No, this makes a North American Union *less* likely. Canada isn't about to tie itself to a sinking ship.
Canada's economy is going strong. The housing market is hot. Unemployment is at a 33-year low. The Canadian dollar reached an all-time high - they keep having to lower interest rates to drop it, which heats up the economy even further. While the US has been piling record deficit after record deficit onto it's national debt for the last 8 years, Canada has had budget surpluses and has been paying down it's debt. The oil sands are being quickly developed.
To distance itself from US economic mismanagement, Canada has been negotiating free trade agreements with *other* countries. It just signed a free trade deal with the European Free Trade Association (Switzerland, Norway, Iceland and Liechtenstein). It just started free trade talks with Jordan. A free trade deal with Peru is undergoing legal revisions. - eryximachus, on 03/19/2008, -0/+11Ridiculous. the "fed rate" adjustment simply means pumping more money into the economy. This obviously did nothing but cause disaster in Germany in the 1920s and lead to prolonged economic stagnation in Japan since 1990.
You fail it. Kiss your savings goodbye, sucker. - inactive, on 03/19/2008, -3/+13What's that acronym? Ah!!! BOHICA!!!!!!!!!!
- nunyabuizness, on 03/19/2008, -0/+1059% of Americans say Depression Likely - 79% Worry About One
AND 95% OF THEM DONT KNOW WHAT THE ***** THEYRE TALKING ABOUT
honestly an incredibly large majority of the adult US population doesnt have a decent enough education to provide any input on the subject. we are still talking about the same adult population who put up Kerry as a candidate and elected Bush... twice - BassMastr, on 03/19/2008, -1/+11There is no way in hell that 79% of those people even know the proper definition of a depression or recession.
- sasharouge, on 03/19/2008, -1/+10...the poll reflects a slide in confidence? ! ? Heelllllooooo!
- capiCrimm, on 03/19/2008, -0/+9"Let me end my talk by abusing slightly my status as an official representative of the Federal Reserve. I would like to say to Milton and Anna: Regarding the Great Depression. You're right, we did it. We're very sorry. But thanks to you, we won't do it again." ~ Ben Bernanke
real fringe batty stuff. - BassMastr, on 03/19/2008, -0/+9What's even worse is when someone talks about the future like it's already happened.
- inactive, on 03/19/2008, -4/+13Osama bin Laden can truly say "Mission Accomplished". He promised he'd bankrupt the U.S. in a war. The national debt has doubled under Bush to $10 trillion dollars, and at $3 a gallon of gas, Americans are stuffing the pockets of Middle East terrorists with cash.
- glucoseboy, on 03/19/2008, -0/+958% of American's don't know anything about economics or how the fed works or for that matter have more than 1000 in their checking account. Who cares?
- gonegoogling, on 03/19/2008, -8/+17and now we have to choose between three more
- synthpop, on 03/19/2008, -1/+10if stress over depression is affecting your life, try Bernankeum™. Bernankeum™ eases symptoms of depression by using your money to save the people who caused the problems in the first place. If this doesn't help your state of mind just take more Bernankeum™, turn on the TV and forget all about it.
(side effects may include: spiraling death of the dollar, making the problem worse and depression)
ask your president if Bernankeum™ is right for you - BassMastr, on 03/19/2008, -1/+9Can I have some of your money? or are you gonna be greedy with it?
- d3lta, on 03/19/2008, -0/+8And they went forth and became baby boomers who decided it wasn't worth saving for retirement... thanks!
- TRScheel, on 03/19/2008, -2/+10Please read this:
http://www.nytimes.com/2006/05/12/world/europe/12f ...
And note this quote:
"One result was that the country's university system guaranteed a free — or almost free — college education to every high school graduate who passed the baccalauréat exam. University enrollment soared. The value of a bachelor's degree plummeted."
If everyone gets a degree then a degree is worthless. The world needs idiots, face it. Everyone cant be in the 90th percentile. - masterm1nd, on 03/19/2008, -2/+10If you're saying new technology is what would make socialism work, then that would make capitalism, which already works, equally more efficient. Plus we'd get to keep our liberties and technology would advance faster too making capitalism exponentially more efficient ;)
- cswake, on 03/19/2008, -0/+7Because he's not ***** insane and understands that the Congress is the one who would have to be "converted" into giving him stuff he could sign.
- ThinkFr33ly, on 03/19/2008, -5/+12The Dow had the biggest jump in 5 years because of speculation, not because of economic fundamentals. The massive cut in the fed rate was like giving a cup of double espresso to a dying man. Sure, he perked up for a minute... but just long enough for people to cover their shorts and take profits.
Low and behold, the market was down another 300 points today.
Perhaps it is you who needs a little education about how the market works. - VenDrake, on 03/19/2008, -1/+8>> and Americans will welcome it with open arms
You are right about that. While we disagree about what's needed, the entire country is hellbent on change and willing to follow anyone who promises it...eerily similar to the atmosphere surrounding Hitler's rise in Germany. - inactive, on 03/19/2008, -2/+9it's a good thing 99% of them have no idea what the ***** they are talking about.
- rogersj3, on 03/19/2008, -3/+10Please take an Intro to Econ course, then come back and apologize.
- Cockslap, on 03/19/2008, -4/+11Depression?! Buried as inaccurate. Most americans alive wouldnt know a depression if it lept up and bit them on their asses. Recession, Maybe. Depression, Negative.
- synthpop, on 03/19/2008, -0/+7I really wouldn't wish for something like that. most dictators have used situations like this to rise to power
- Hetman, on 03/19/2008, -0/+6If you want a socialist country I expect that cigarettes are going to become illegal, defiantly alcohol. "the amount of damage that causes in accidents a year probably cannot even be estimated." No more McDonald's for the fat-asses. I'm not paying for someone who wants to live an unhealthy life that is their choice I'm not paying for it. I can see universal health care for anyone under 18. But after that you need to be responsible for yourself and your actions.
- chuckDontSurf, on 03/19/2008, -1/+7That's completely irrelevant. Knowing about the conditions during a depression doesn't make you any better a predictor of them.
- JK1150, on 03/19/2008, -1/+7why not trust the economic expertise of randomly surveyed adults?
- chuckDontSurf, on 03/19/2008, -4/+10I was hoping someone would post this. Oh no, 59% of the general populace--a large chunk of which probably only got through high-school algebra--say a depression is likely!! Run for the hills!
- GhostyBoy, on 03/19/2008, -1/+7FYI I live here and as much as Canadians don't want anything to do with the Hindenburg of the U.S. economy our government has taken a recent liking to secrecy and making shady deals with ***** BushCo.
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