The Next Recession Is Going to Be Brutal. The economy is showing signs of turning ...

Discussion in 'Economy' started by Blaine Sweeter, Aug 14, 2019.

  1. justoffal
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    justoffal Gold Member

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    There are those who say 2008 is still with us....I am of the opinion that it is which would make it longer by comparison.

    In any case the misinformation stems from an attempt to rank two financial catastrophes that are 79 years apart in order of severity. There are simply too many differences in the basic makeup of the economy to compare this basket of oranges with that basket of apples. 2008 was much worse and far deeper in terms of scope and value with the reverberations being felt throughout the entire civilized world and probably for 20 more years to come. What stopped it from becoming the global starvation onslaught that 1929 presented was the fact that the supply chain was 90 to 120 days deep unlike 29 where it was only 2 or 3 days deep. Great big effing difference there dude.... that was more function of technology than it was finances.

    I don't deny that there was great suffering in 29.... But to say that it was worse than 2008 is non sequitur at best. The difference was the size of the machine not the depth of the calamity.

    Jo
     
    Last edited: Nov 16, 2019
  2. Denizen
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    Denizen Gold Member

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    Trumpists are one-dimensional. Thick!
     
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  3. Faun
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    Faun Diamond Member

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    Words have meaning, even if you don't understand them...

    depression

    What Is a Depression?

    A depression is a severe and prolonged downturn in economic activity. In economics, a depression is commonly defined as an extreme recession that lasts three or more years or leads to a decline in real gross domestic product (GDP) of at least 10 percent.​

    (emphasis added to highlight your ignorance)

    Feel free to quote the economists who determined Bush's Great Recession was really a depression...
     
  4. WTH_Progs?
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    WTH_Progs? Silver Member

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    We're not, know why? Because we're responsible people.
     
  5. Kilroy2
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    Kilroy2 Silver Member

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    Well it would have to be worse because general consensus is that the recession is a short phase and things rebound in a short period of time. The amount of time and how wide spread is it is significant factors that come into play. So Town C could be in a recession whereas Town D is not

    Still it has to continuous with multiple recession hitting in a row that spread to other areas

    Thus depression is defined as a serious of recessions that happen for a longer period of time (the great depression lasted 10 year according to economist) which by the definition is a serious of recessions

    Also the number of people in unemployment based on a percentage (30 percent) factors into the equation.and GDP reaches a certain number.

    So if some say as you do that there still in a recession since 2008 then we would be in a depression

    And no one says that

    Recession do happen and it could be very localized but it does not mean the whole country is in a recession

    The great depression is said to have had 12 million unemployed with a 25 percent unemployment rate

    In the great repression it got no hire than 9 % and by 2016 it was 4.7% and
    GDP had similar numbers

    No way that the recession is still gone on to the point that it will effect national numbers.

    Even if town c had a high unemployment rate it still is nowhere near depression levels

    So to sum it up a depression is considered a serious of recession that hit for a significant amount of time

    If US has 30 percent unemployment rate under Obama

    yeah then Donald Duck could have been elected president for life

    so in simpler terms the posting of a speed limit
    once a driver reaches a certain speed then its defined as speeding

    Now you can get away with speeding but if a cop see ya then you will have to explain to the officer why you were speeding

    but but officer, if it was 1930 then it wouldn't be speeding

    Thus I can see why you would support the ideal that the recession is still ongoing because it would bolster your initial claim
     
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    Last edited: Nov 16, 2019
  6. justoffal
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    justoffal Gold Member

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    The currency correction is ongoing these 12 years hence.

    Jo
     
  7. Zorro!
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    Zorro! Gold Member

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    The inflation rate, overall, looks pretty stable over the last 35 years

    [​IMG]
     
  8. Denizen
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    Denizen Gold Member

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    The consumer price index flattened at the end of Obama's tenure and kicked up again during Trump's tenure.

    Consumer price inflation during 2 years of Trump's tenure is up 5.5% which is probably more than wages have risen.

    Donald Trump and his family should empty their pockets before they are evicted from the White House.

    Federal debt is rising at 2.5x the annual GDP rise during Donald Trump's tenure.

    Consumer Price Index for All Urban Consumers: All Items in U.S. City Average
     
  9. Toddsterpatriot
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    Toddsterpatriot Diamond Member

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    Consumer price inflation during 2 years of Trump's tenure is up 5.5% which is probably more than wages have risen.

    Wages rose more than inflation.
     
  10. Denizen
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    Denizen Gold Member

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    Not true. Minimum wages are rising and this skews the data. The middle class wage is stagnant and the wage scales are being compressed from the bottom.
     

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