How will we know when its a DEPRESSION?

[OwnedByFerrets]

We all know we cant count on the government to tell us when we slide into a depression. So, my question....How will we know?

My thought...When you tune into NFL/NCAA Football games on tv and the stadiums are only half full.
If Superbowl tickets cant be sold because no one can afford them, we will be in a depression.
When the average pay for NBA players comes down to 300K a yr instead of 4 million we will be in a depression. When MLB begins cutting salaries of its stars, we will be in a depression. These are somewhat flippant answers to a very serious situation, but......


When will you KNOW we are in a depression in the US?


Here is what Robert Reich said in December.

"
We are falling off a cliff. To put these numbers into some perspective, the November losses alone are the worst in 34 years. A significant percentage of Americans are now jobless or underemployed -- far higher than the official rate of 6.7 percent. Simply in order to keep up with population growth, employment needs to increase by 125,000 jobs per month."
http://robertreich.blogspot.com/2008/12/shall-we-call-it-depression-now.html

[madinmaryland]

1. I think it is quickly becoming a depression. The Bush Depression.

[Uben]

2. When your pennies are gone!

That's a pretty good indicator!

[pnutbutr]

3. Deflation

When deflation kicks in

[Donnachaidh]

4. when 2,000 people apply for ONE job -- it's already HERE

And the story of that job was in the Atlanta Journal-Constitution two DAYS ago.

It's ALREADY HERE, dude.

[OwnedByFerrets]

6. I dont think so. I believe that, and this is just personal opinion and

everyone has one, that until its in our face on a daily basis....when you cant escape it when you look outside or even in our "entertainment" programs, we are NOT in a depression.

[Donnachaidh]

9. and denial ain't a river in Egypt

That's SUCH a typical *head in the sand* American thought -- if it doesn't personally effect me -- it ain't happening.

Six months ago the very same job that was mentioned might only have seen the occasional high school kid apply for it. NOW there are TWO THOUSAND applicants.

2,000 applicants for *1* job. In a city that up till six months ago, had more job openings than applicants.

But you go ahead with your theory. It's a comfort to hold onto that than see the actual REALITY that is happening to hundreds of thousands EACH MONTH across the country. Not much of a comfort to THEM :sarcasm:

[jpljr77]

19. Which AJC story are you referring to?

The only one I can find is this: http://www.ajc.com/services/content/printedition/2009/01/14/kohls.html">2,000-plus seek work at Kohl’s job fairs

2,000 people showed up at a job fair for 300 jobs. Still not a great ratio, but a little better than 2000:1.

[Blue Meany]

10. I saw that phenomenon in NYC in the early 1990s...

There were lines going around for block where I worked every time a single job was advertised (usually janitorial). An elderly woman I worked with who lived through the depression in NYC told me that it was worse than the depression. But perhaps back then there weren't any jobs to apply for, just long lines for soup and bread.

[madrchsod]

21. this has been going on a sliding scale since sept 11 2001

after 2001 the economy was headed in a slow downward spiral. we are close to the bottom of the cycle and it`s going to take a year to start a meaningful recovery...just in time for the next election cycle!

[NOW tense]

5. When we lose our sense of humor.

[Skink]

7. When the automotive companies go out of business.

If.

[Odin2005]

8. A Depression is defined as a 10% drop in GDP.n/t

[LeftHander]

11. Recession is: you don't have enough money to buy stuff....

Depression is: when there is no place to buy anything.

[Jamastiene]

13. Or they start rationing what you do find. n/t

[Cetacea]

14. Great definition.

[Mika]

17. Unless you're in Cuba. There, its known as el bloqueo - the blockade.

If it doesn't induce suffering, then its not the real USA™.

[Jamastiene]

12. When people in small towns start locking doors and

crime goes sky high even in the most quaint little bergs in the country... Oh, wait...that's already happening...

Depression <----- We are here.

[endarkenment]

15. When you are living in your car.

When all your children move back home.
When you are deciding every month which bills to pay and which to ignore.
When you wake up and realize that you are now just one of the poor.

[RoseMead]

20. Well, the kids aren't old enough to have left yet

so number 2 is moot for us, and we're not living in our car (and couldn't since all we have now is my husband's pickup).

But numbers 3 and 4 - we've been there for a while now.

[edhopper]

16. I believe that

technically a Recession is two consecutive quarters of negative growth in the GDP (We are already over a year) And Depression is a fall of over 10% in GDP.
GDP is down but less than 1%. I doubt we will have a technically Depression, but we might end up calling this "The Great Recession."

[closeupready]

18. I know it is said that many of the best Hollywood musicals and comedies were made during the Depress

Depression because it helped people escape from their daily misery for a low cost, and I suppose if we see a rebirth of those genres, that could be an indicator. Obviously, we have always had comedies, but I mean, when every third film is a light, romantic comedy like The Thin Man.