How is the US not in the middle of the worst depression of the 20th and 21st century?
Wars all over the place that have been going on for a decade
That costs money -- it costs in many other ways --young peoples lives and the causes of many an emotional trauma that often leads to massive costs in terms of PTSD alone
Huricane Katrina was a while ago -- but it caused massive damage -- Detriot has been more than decimated by bank and auto failures --
The Gulf of Mexico oil disaster -- impacting the worlds 9th largest body of water and everyone who lived around or close to it
20 % on food stamps -- are children --- Unemployment is between 9 and 16 % depending on how far down the U1 to U6 chart
It wasn't that long ago California the worlds 8th largest economy announced it was issueing IOU's
Bank failures -- bank bail outs to save the insurance industry -- more zero's than ever and its automotive bailouts
Now given all that -- the massive debt -- the natural disasters --- the wars --- and so on and on
How -- HOW is the US not in the worst depression of the 20th and 21st century of any ANY modern industrialized nation ( The Wimar republic was not an industrial nation -- but the Nazi government changed all that )
So --- the GDP is saving you ?
Really -- you keep complaining of corporate off shoring -- because your manufaturing base is gone
The automotive industry drives the economy -- was in the friggin 70's and 80's back when the Fonze way giving people thumbs up
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I think we are in the depression state they have just changed the name to sound less severe, in the beginning not the middle however and the real unemployment rate is around 20%
This recession debt is the reason we can't pull ourselves out of this self made mess.
The rate of true un employment in the 1030's was double the worst 16% to 17% that is claimed today.
Our manufacturing base was destroyed because we were spoiled by wages much higher than we ever deserved; especially in the Auto, industrail industries and union teachers making over 100,000 for a nine month year. And they won't even give a kid 20 minutes of help after school
I was Born in America & worked without ever having any union for a lifetime..
For three recessions I made do because i didn't put myself in debt with credit cards as we didn't assume debts for unnecessary items.
Our defense plants had three deep layoffs over thirty years & many people were out of work for at least 5 years or more between contracts.
Everyone knows we have slow economic cycles every so many years and people that don't have high enough incomes to save big money would either save disciplined steady small amounts for a rainy day or get a second or even third job to have the needed income long before the economic cycle turned down like it always does.
About 90.5 % of the people are still making more money than ever before in history.
IF they didn't go bankrupt from over indulging their lavish fantasies where in they are as deep in credit card debt as four years ago; along with making that minimum payment.
And it they didn't pull up to my Garage sales in new $45,000+$$ S.U.V.'s they'd be able to get caught up.
Too many Americans like to feel sorry for themselves and not take responsibility for their own actions.
Our College educated people are so entitled foreigners are out working them without attitudes.
From 1982 in Florida there were more Michigan plates then any other out of state plates.
Yet with all the predetermined warnings in front of them in the auto industry they refused to retrain for available jobs and stay employed.
If you want to ask yourself why no one budgets any more.
I had no 401k's or I.R.A.'s and minimum wage was 1.25 an hour.
Until we pay off our debts and learn to buy what we earn retail sales will remain stagnant regardless of the low interest rates.
Except in 1930's we haven't had a real depression except in the minds of the entitled poor me mentality people.
i recognize you mentioned that Bush wasn't area of the twentieth yet a edge word i could choose to declare is and you may say I mentioned this: "President George W. Bush will unavoidably, interior the destiny be seen between the greater beneficial presidents interior the heritage of this united states of america." He become one president that did issues for the destiny and although now many do no longer recognize the importance in his strikes and although some seem appreciably severe I assure you we can be greater beneficial for it down the line. That being mentioned: ultimate: Truman Worst: bill Clinton
Hey we are in a severe recession. It will be a depression when the stimulus wears off. We will feel the effects. The era of keynsian economical thought is coming to a collapse and the market will return to what it was intended for. Classical Economical thought in where the government stays out of it.
As entitlement spending spirals out of control, coupled with the wars, we'll be on worse footing than Greece. That's a given. But we won't see that for another ten years
At present most Americans are living off of what they acquired years ago. Living now is not as good as it was before Obama, but we are still getting by.
during the great depression unemployment was over 20% so stop complaining.