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 AdoreChampignons
Mycophilic One
Registered: 08/10/08
Posts: 337
Loc: Seti Alpha 5
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 A Major Depression On It's Way? 
#9003833 - 09/29/08 07:23 PM (4 years, 7 months ago) |
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Everyone's talking about the state of the economy. What do you think? Are we heading into a economic depression? Take part in the survey and let's see if our feelings can predict the future.
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There is no such thing as a dumb question. There are just curious people trying to learn something new.
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DieCommie
El Guapo
Registered: 12/11/03
Posts: 25,374
Loc: Street of Dreams
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Is there a technical definition of depression?
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AdoreChampignons
Mycophilic One
Registered: 08/10/08
Posts: 337
Loc: Seti Alpha 5
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 Re: A Major Depression On It's Way? [Re: DieCommie]
#9003982 - 09/29/08 07:54 PM (4 years, 7 months ago) |
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Yes, when the GDP falls by 10% or more the economy is said to be in a depression. The Great Depression of the 1930's was said to have had the GDP fall by 18%. I'm not an economist mind you. I'm just re-stating what I picked up through Goggling. What draws a lot of concern though is the use of the word "unprecedented" by so many people in public office. We're definitely in new territory. It's a learning experience for everyone. That's what makes it scary.
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There is no such thing as a dumb question. There are just curious people trying to learn something new.
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DieCommie
El Guapo
Registered: 12/11/03
Posts: 25,374
Loc: Street of Dreams
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Hmmm, if thats the case then I dont think so. I found this graph of the recent GDP, I marked in red about 10% drop...
It doesn't look like it will go down there. Especially considering the long term graph...
Graphs aside, I dont see any mass unemployment or long bread lines which I think of when I think 'depression'. So for the moment, I dont think so.
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ToiletDuk
Give me Librium or give me Meth!
Registered: 05/17/03
Posts: 81,248
Loc: Earthfarm 1
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Naw, we're having a recession. I don't think we're headed for a major depression like in the 1930's.
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AdoreChampignons
Mycophilic One
Registered: 08/10/08
Posts: 337
Loc: Seti Alpha 5
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Re: A Major Depression On It's Way? [Re: DieCommie]
#9005517 - 09/29/08 11:59 PM (4 years, 7 months ago) |
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Quote:
DieCommie said:
Hmmm, if thats the case then I dont think so. I found this graph of the recent GDP, I marked in red about 10% drop...
It doesn't look like it will go down there. Especially considering the long term graph...
Graphs aside, I don't see any mass unemployment or long bread lines which I think of when I think 'depression'. So for the moment, I don't think so.
Wow! I'm impressed! You've got graphs and reference markers too. That's impressive. Let's all hope that things work out for the best. Who ever becomes the next president of the U.S. has a big mess to clean up.
As the news reporters are saying so far, we won't really be seeing anything different in the next few days. It's more of what will happen in the next few weeks that'll set the tone for the future. If major businesses cannot borrow enough money to make payroll or pay their suppliers, that's when things really start to fly a part.
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There is no such thing as a dumb question. There are just curious people trying to learn something new.
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AdoreChampignons
Mycophilic One
Registered: 08/10/08
Posts: 337
Loc: Seti Alpha 5
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Re: A Major Depression On It's Way? [Re: ToiletDuk]
#9005571 - 09/30/08 12:13 AM (4 years, 7 months ago) |
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Quote:
ToiletDuk said:
Naw, we're having a recession. I don't think we're headed for a major depression like in the 1930's.
I like you're positive attitude. Let's all think that way and make it a self-fulfilling prophecy of a brighter tomorrow.
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There is no such thing as a dumb question. There are just curious people trying to learn something new.
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 NiamhNyx
I'm NOT a 'he'
Registered: 09/01/02
Posts: 3,198
Last seen: 3 years, 11 months
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Re: A Major Depression On It's Way? [Re: DieCommie]
#9006216 - 09/30/08 02:34 AM (4 years, 7 months ago) |
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Quote:
DieCommie said:
Graphs aside, I dont see any mass unemployment or long bread lines which I think of when I think 'depression'. So for the moment, I dont think so.
Sure, but there are tent cities of people who are ostensibly middle class growing outside of many cities across america. American news is mostly ignoring it, but the BBC is on it.
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AdoreChampignons
Mycophilic One
Registered: 08/10/08
Posts: 337
Loc: Seti Alpha 5
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Re: A Major Depression On It's Way? [Re: NiamhNyx]
#9007712 - 09/30/08 01:27 PM (4 years, 7 months ago) |
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Quote:
NiamhNyx said:
Quote:
DieCommie said:
Graphs aside, I dont see any mass unemployment or long bread lines which I think of when I think 'depression'. So for the moment, I dont think so.
Sure, but there are tent cities of people who are ostensibly middle class growing outside of many cities across america. American news is mostly ignoring it, but the BBC is on it.
I vaguely recall hearing something about that. It makes me wonder why the Brits are reporting it and not the mainstream media in the US.
Sorry, I spoke too soon. The US media is reporting on it too.
www.cnn.com/2008/LIVING/wayoflife/09/19/tent.cities.ap/
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There is no such thing as a dumb question. There are just curious people trying to learn something new.
Edited by AdoreChampignons (09/30/08 01:39 PM)
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Veritas
Registered: 04/15/05
Posts: 11,088
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NN: How are these people "ostensibly middle class"? Sorry, but you would not find middle class people moving to Reno in the hope of finding a casino job. We're seeing the lower income classes pushed into true poverty, and the lower middle class pushed into low class, but not the middle class moving into tent cities.
IMO, we are headed into a recession. The economy has been in a major boom, and now will cycle through a bust. This is a normal part of the economic cycle. Those who have risked too much & counted on the economy avoiding the cycle of boom/bust will be experiencing the consequences.
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AdoreChampignons
Mycophilic One
Registered: 08/10/08
Posts: 337
Loc: Seti Alpha 5
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Re: A Major Depression On It's Way? [Re: Veritas]
#9007911 - 09/30/08 02:07 PM (4 years, 7 months ago) |
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Quote:
Veritas said:
...How are these people "ostensibly middle class"? ...
Yes, I was wondering about that too. The term middle class has always been difficult to define.
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There is no such thing as a dumb question. There are just curious people trying to learn something new.
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pinkfloydms
!!!!!
Registered: 05/27/04
Posts: 4,470
Loc: City of Dreams
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To me Middle class is $30k-$100k.
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so yeah:
- 'sex' five times
- once with a man
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- and thrice with actual women(all of which were prostitutes)
Best story ever!
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 Maverick
Lover of Earwigs!
Registered: 12/18/05
Posts: 10,742
Loc: Northern Nevada 
Last seen: 8 minutes, 28 seconds
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Re: A Major Depression On It's Way? [Re: pinkfloydms]
#9009060 - 09/30/08 06:15 PM (4 years, 7 months ago) |
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Yeah I live in Reno, HUGE tent cities are popping up... :| I have to live w/ the 'rents again myself. It's easy to lose your house when you're middle-class right now btw... especially w/ the way equity loans and such went south and all the foreclosures...
There are a lot of abandoned houses around this new neighborhood, they once had families living there. We have one down the street.
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