Austerity coming to America? (interest, financial, recession, job)
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VERY GREAT DEPRESSION « The Burning Platform (http://theburningplatform.com/blog/2010/09/18/very-great-depression/ - broken link)
In this article they make the case for a policy change in the direction of austerity shortly after the elections. This seems to be unavoidable and would result in world wide depression. Read the article and comment if you believe this is a likely senario.
VERY GREAT DEPRESSION « The Burning Platform (http://theburningplatform.com/blog/2010/09/18/very-great-depression/ - broken link)
In this article they make the case for a policy change in the direction of austerity shortly after the elections. This seems to be unavoidable and would result in world wide depression. Read the article and comment if you believe this is a likely senario.
Yes, it is a global systemic crisis, with all countries' finances (banks of course) tied to the entire global economy. What's not to agree with?
"At the heart of the global systemic crisis since its inception, the United States is, in the coming months, going to demonstrate that it is, once again, in the process of leading the economy and global finances into the 'heart of darkness. ' "
" one thing is certain concerning the consequences of the United States entering a large-scale programme of austerity: that will be financial and monetary chaos in the markets accustomed for decades to the exact opposite, that’s to say, US waste; and an internal economic and social shock unparalleled since the 1930s."
The article reads like a piece of fiction with all the dramatics but no substance. But then the Op seems to be one know for dramatic postingsfrom obscure blogs etc.
It came to my house a couple years ago when I realized the writing was on the wall for the economy. As long as we have gung-ho big government types in power, they will just keep shuffling the deck and quietly discarding the middle class ranks..
You know, I think one of this country's problems is people like Krugman writing a weekly column. He's an economist who should be looking at the big, long term picture but he's stuck on the minutia so he can churn out drivel for his column/blog. This also goes for other economists, financial reporters, and fund managers. CNBC explains why the market went up one day but went down the next with contradictory information. Maybe the correct answer is who knows why the market went up or down OR the answer should be because that is the way the market was manipulated today?
Its interesting that on his 6/28/10 column he says we're possibly going into the third depression, but other economists have said that the recession ended in in 6/09. Do any of these "economic experts" know what the hell they are talking about?
No wonder so many workers connected to Wall Street have drinking problems. Listening to the "experts" is enough to drive you to drink!
It really gets old reading people playing the game of attacking the messenger because they are unable to debate the issue. It is a cheap trick and adds nothing to the conversation. If you cannot muster a real argument pertaining to the issue, try not to pollute the thread with ignorant prejudicial comments.
Its interesting that on [Krugman's] 6/28/10 column he says we're possibly going into the third depression, but other economists have said that the recession ended in in 6/09. Do any of these "economic experts" know what the hell they are talking about?
No wonder so many workers connected to Wall Street have drinking problems. Listening to the "experts" is enough to drive you to drink!
And interesting that Obama's think team declares that the "recession" was officially over (6/09) just as many were just realizing we were really in one... and losing their job or home. Do "they" [the top dogs] know what the hell they are talking about when they spout out these cheery announcements just before election? (the GDP gain before the great '29 crash was much higher in the two quarters following recession than ours is today) Wall Street has its drinking problems because they're all afraid that despite their best greedy efforts they will lose their self-made fortunes.
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