Is it a RECESSION or a DEPRESSION?

Prices continue to rise, while wages either fall, or are eliminated all together. (Laid off because your job has been outsourced to India, Messico or some other Turd World Country. If you're still working, I guess it's a recession. If you lost your job, your house, your car, your savings, I'd say it's a depression. Watch the video.

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News & Politics

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• Recession
• Depression
• India
• Mexico
• Jobs
• Economy
• Wall
• Street
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• TheLazyComic

[MrManny7426]

depression!!

[thelazycomic]

Okay, for some reason, the video wouldn't upload for a response. It is the latest video I've posted. A story that 60 Minutes ran a month or two ago. It was called The 99'ers. It is really worth viewing. I think it says it all... and my comments add to it. Thanks

[thelazycomic]

See the video I've added to this subject. I attached a video.

[MrManny7426]

There r indeed obvious diffrences between current donturn and great depression. the unemployment rate for 1 thing. was much higher in the great depression. but for the purpose of deciding wat 2 do next, thats wen u use the word 'great recession..' is deeply misleading and has lead 2 a continued underestimation of the challenges facing the united states and the world.. so by that i its going to b difficult to get out of the economic hole in which we find ourselves.. so i say is a 'depression'!

[knobcheese69]

i agree, GM and a shitload of the banks should be put out to pasture, the money spent on them could have been much better spent elsewhere. if you split up the money given to say, GM, and gave a years salary to all the workers, paid like their normal salary would be, then there would be no problem. people could go out and get new jobs etc.

also the unemployment rate is going to increase no matter what, but its increasing slower because of extra spending.

[thelazycomic]

Well, the government spending here isn't helping either. It was supposed to create jobs, meanwhile the unemployment rate continues to rise. Now our government is part owners of GM, Chrysler and lots of banks. If it's a company that can't run itself financially sound, then let the thing collapse. If the company can't operate in the black, why should we save it? You think GM is going to give us free cars from our tax dollars? I'll bet not. It's all a mess. Nobody has the answers.

[knobcheese69]

im in australia. where our government tightened their belts by a huge degree during the depression, and as such made it worse.

[thelazycomic]

I've gotta ask this. Did you vote for the O man?

[knobcheese69]

you dont stop spending in a recession, thats how the great depression was worsened. if the gov't stopped creating jobs and giving handouts to joe bloggs, people would have nothing to spend, and the economy would get worse.

handouts to the banks that caused this though, are fucking stupid.