Is today's economic crisis another Great Depression?

[JohnWxy]

http://www.usatoday.com/money/economy/2008-11-03-economy-depression-recession_N.htm

[Hydra]

1. Boiled frog

They're trying to ease us into the idea that we're getting into a depression without panicking people. I've argued we've been in a depression since the crash of the housing market. The company I work at is 51% down from last year and that's not likely to improve.

On top of that, the unemployment numbers are FAR worse than reported, and have been for some time. The gurus keep pointing to 5%(In this article, now 6.1%) as being low unemployment...but what about under-employment, people who have given up and people forced to take lower pay or less hours?

People have to have funds coming in to consume. That's becoming less likely even as the major banks are poised to use public money to buy up their competitors rather than to unfreeze the credit market.

What a world.

[JohnWxy]

2. Ain't deregulation swell? thank you Republican Party and Phil Gramm in particular.

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=114x47084

Phil Gramm you'll remember, is the guy who said we are suffering from a "mental recession" and another gem: "America has become a nation of whiners."

Hey Phil buddy, would you like to say that to my FACE?!

[GSPowner]

4. We can't allow so much controll to go to individuals....this is a recipe for disaster

the Govt needs to step in and make sure the economy frair...and implement a Fairness Doctrine of the haves and have nots!!!

[abelenkpe]

3. yes

[clixtox]

5. It is for a whole bunch of po' folks now and for a lot more of us soon!

That is a reality no amount of jaw-boning will change.

We have been robbed and raped. Yup, you too!

We just lost the "class-war", and we got viciously smacked down, for at least a generation!

We are not going to be able to consume our way out of this new paradigm.

Our "credit" is shot!

Get ready to live small and it is better to start now before you have no choice or viable options. It is time to downsize your, and your families, life and try to generate some diverse savings while trimming any debt possible.

Everything besides cash (or equivalents) is going to be nothing but trash... Sell it if you can! All the crap you don't absolutely need.

Massive domestic public works projects with our resources that are now being squandered in Iraq, Afghanistan, and too many other off-shore sink holes of military madness and intimidation, is what's in the cards or we are going to be screwed even more.

The massive corruption resulting from laissez faire exploitive, unregulated Capitalism is ultimately paid for by the victims. As always...

That's us!

The suoer-rich and the uber-rich are in no danger since they are in absolute control while lurking under the (their own) radar.

Divide and conquer.

Simple isn't it!

Think...