timesonline.co.uk— The experience of the 1930s makes me think that the present downturn will be relatively long and difficult, AKA "The Greater Depression"
Jul 14, 2008View in Crawl 4
Good thing America prepared itself by becoming the Worlds Fattest nation, if the food was to run out the average persons fat reserves will likely last them for a few months. Myself included as I enjoy some KFC by my desk.
yeah but you fail to account for the government doing an "enron" on the numbers. for example, "officially" inflation is at 4%, but if you calculated it using the same methods used in 1980, we're at 11% inflation. go shopping at the supermarket and tell me if you think prices have gone up only 4% in the last year.<a class="user" href="http://www.shadowstats.com/alternate_data">http://www.shadowstats.com/alternate_data</a>
True: there is no recession as defined by old standards. On the other hand, something is up. If the world's richest man, who *predicted* the current situation, says "look, by all practical means this is a recession" than clearly something is going on.It might be as "simple" as the fact that passing the buck doesn't work anymore. It's too expensive (gas/oil) for one. And as the world gets smaller and parts of it get richer (US dollars ---> China by the truckload), those superlow wages are disappearing.Recession, depression, whatever -- fact is, what's going on will forever change the way we're living.
Closed AccountJul 15, 2008
Good thing America prepared itself by becoming the Worlds Fattest nation, if the food was to run out the average persons fat reserves will likely last them for a few months. Myself included as I enjoy some KFC by my desk.
derek20laJul 15, 2008
yeah but you fail to account for the government doing an "enron" on the numbers. for example, "officially" inflation is at 4%, but if you calculated it using the same methods used in 1980, we're at 11% inflation. go shopping at the supermarket and tell me if you think prices have gone up only 4% in the last year.<a class="user" href="http://www.shadowstats.com/alternate_data">http://www.shadowstats.com/alternate_data</a>
ciaran036Jul 15, 2008
new to digg?
inefektJul 16, 2008
Don't be a f**king idiot.
8stringJul 17, 2008
Hoping for another bubble is like a crack addict hoping for his next rock.For things to be good in the long run we need to AVOID bubbles.
iambrianyoungAug 15, 2008
True: there is no recession as defined by old standards. On the other hand, something is up. If the world's richest man, who *predicted* the current situation, says "look, by all practical means this is a recession" than clearly something is going on.It might be as "simple" as the fact that passing the buck doesn't work anymore. It's too expensive (gas/oil) for one. And as the world gets smaller and parts of it get richer (US dollars ---> China by the truckload), those superlow wages are disappearing.Recession, depression, whatever -- fact is, what's going on will forever change the way we're living.