Recession or Depression?

We have been reading the posts,and others as well. Me and deb have been searching for a place to stay but the job market is tough right now....
I have been listening to the news,about the bailouts,about the economy,about how deep the greed is in corporate America,how people in California are being given IOU's for their state tax returns....and no one says a thing about this,not a whisper, have we really become so numb and indifferent to what is happening?
People are losing jobs and homes faster than can be replaced,investments for retirement have been liquidated...people on the edge of utter poverty....and still we
go on as if this is a minor glitch in the program.
The government will not be and is not the solution,nor is Obama,now we will see what an inexperienced politician he is,retoric only goes so far.
We are thinking to stay free for a while and see how this all plays out, if it deterioates to a point of collapse, we have agreed to head north into the hills with as much provisions as we can take, I get the feeling we are truly on the edge of a social/economical collapse,and I don't want to be near here when that happens.....
We will post more later..and let you know where we are....till then best wishes
MCR&DEB.

 

If you're still working it's a recession, if you're out of work it's a Depression.
IMHO

 

I dont think it's gotten near total collapse yet, nor do I think you need to arm yourself and head to the hills (although, I AM a proponent of being armed to protect your home and family at all times). We've been through worse in this country and we came out on TOP. The depression saw liquidations and instant poverty, even for those who were more financially blessed than the rest of us. If we can manage to stop the bleeding now or very soon, we'll do just fine in the long run. Yeah, for a lot of people (including me) it stings, and will sting for a little while, but when we as a nation get tired of living on "emergency" terms, and start buying the things we want and taking advantage of the services we want, we'll bounce back. It's going to take consumer spending to end this mess in this country and in the rest of the world.


Just my .02, however misguided or wrong.

 

You're right about the spending by consumers, but this bailout doesn't really address that part of the problem. If people don't have jobs or are in fear of loosing their jobs, they will not spend as much.
Last I seen out of the 789 billion only 1 billion was slated to help small business.
Nothing less than criminal in my opinion.
And as reported on CNBC about 46 billion for infrastructure. They said for every 1 billion spent it would employ 15,000 people. Michigan has 465,000 unemployed right now.
But I do believe it will get better sooner or later if they ever decide to let this downturn bottom out.

 

the new boss is same as the old boss

 

SO TRUE AND WELL SAID...THANK YOU.
As a society we have turned from the spiritual to the materialistic...greed has replaced common sence.....we have become a "me" first nation, and we see this in the way the ceo's have patted themselves on the backs as they have given themselves million dollar bonuses even as they let go of "lower" class employees of their firms...and they plan extravagant junketts at the expense of the taxpayers dollars,not seeing anything wrong with it.
Ancient Rome collapsed due to internal corruption,and warfare that strapped the government...are we one day to join the mighty empires that fell to these evils?What will be said of our society?What we need to do is eradicate poverty,social classes,hatred,bigotry,racism,warfare,greed,
hunger and indifference to those that are suffering....
This is just my opinion.....I may not see this happen in my lifetime, but one day maybe our species will see that working together for the common goal of of making life better for everyone is far better than what we have been doing upto now.