Depression: It's a crying shame

[live love laugh]

The stock market is falling. Mortgages are bottoming out. GDP ain't what it used to be--and neither is inflation. If inflation were properly calculated--at least the same way that it used to be calculated so that we could actually compare today's prices to past prices--we would easily see double-digit price increases hanging over our heads.

The last time that the economy did as poorly in comparison would be Reagan-era stagflation and we could even be seeing approaching economic problems as devastating as the Great Despression of the 1930's.

Thom Hartman summed it on on his show the other day. This is BushCo's legacy and our plight.

*Over 5 million people have slipped into poverty;
*Nearly 7 million Americans have lost their health insurance;
*Median household income has gone down by nearly $1,300;
*Three million manufacturing jobs have been lost;
*Three million American workers have lost their pensions;
*Home foreclosures are now the highest on record;
the personal savings rate is below zero - which hasn’t happened since the great depression;
*The real earnings of college graduates have gone down by about 5% in the last few years;
*Entry level wages for male and female high school graduates have fallen by over 3%;
*Wages and salaries are now at the lowest share of GDP since 1929 (the year of the Great Depression)


It's not going to get better any time soon and that's.... Depressing.

[porphyrian]

1. Expect record suicide rates this holiday season, or at least a notable spike. - n/t

[AuntPatsy]

5. Just don't expect such news to be reported on.

[porphyrian]

7. I don't expect anything but marketing and lies from the media. -n/t

Edit: I can type. Really.

[Mike03]

6. murder/suicides

They are already spiking. Just like foreclosures.

[porphyrian]

8. I haven't seen the numbers myself, but I don't doubt it.

And they always get worse around the holidays.

[NMMNG]

2. But GWB says the economy is doing great!

He wouldn't lie, would he? :shrug:

[PDJane]

3. Only if he's talking............

[Mnemosyne]

4. * isn't lying,

he's talking to his "base".