Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
The similarities between the 2007-2016 and a lot of the 1920's are eerily similar, except that we actually knew we had a recession in 2007-2010.
In short
1.) Economic problems
2.) Buying on credit/debt
3.) Attempts to fix the situation with big massive tariffs
4.) Lots of bubbles in the market.
5.) A false bull market.
Also, if we have about 300 million people and about 94 million unemployed, that is about a third of the population. I don't think things were that bad even during the height of the Great Depression, yet everyone thinks things are "good" now. If they had numbers like that during Hoover or FDR's Presidency, one of those two guys would be fighting Civil War II over the uprisings of the public. So why aren't we seeing that happen now?
Something tells me that it is because of the increased meddling of the Federal Reserve plus the expansion of the welfare state that we don't have soup lines, etc, worse than during the Depression.
We did have a depression from 2007-12 (years debatable). One factor keeping it from becoming a Great one was the stimulus effect of war. I say not for a few years.
Location: East of Seattle since 1992, 615' Elevation, Zone 8b - originally from SF Bay Area
44,563 posts, read 81,131,933 times
Reputation: 57767
The difference is that in the Great Depression, and again in the recession of 2008, almost everyone was affected. Currently there is a high number of people on assistance, but they are limited to certain geographic areas, while in others, such as here on the west coast, the economy is thriving. In our state (WA) for example, welfare recipients are way down, it was over 100,000 people in 1995, steadily decreasing until 2007, then over 60,000 in 2010-11, but now down to 42,000.
Also, if we have about 300 million people and about 94 million unemployed, that is about a third of the population.
LOL! About 95 million working age people are not in the labor force. Among those, there are just 5 million who say they want a job. The other 90 million do not want a job. Any job. They are fine just the way they are.
LOL! About 95 million working age people are not in the labor force. Among those, there are just 5 million who say they want a job. The other 90 million do not want a job. Any job. They are fine just the way they are.
Most of that 95 million are children and elderly people.
Many are just plain unemployable in any decent job .
They can't pass a drug test , a credit check or a background check just to get to 1st base .
Then they speak english so poorly they can't be used anywhere they interface with customers . IT IS MIND BOGGLING HOW MANY ADULTS OF ALL AGES AND ECONOMIC STATUS USE DRUGS .
We did have a depression from 2007-12 (years debatable).
There is no formal definition for a depression. The pop-definition would be a recession that lasts two years or more. There was a severe 18-month recession between December 2007 and June 2009. We have been in a recovery since that time. The recovery would have gone more smoothly had Congress managed to show any interest in furthering it after 2010.
Most of that 95 million are children and elderly people.
Persons not in the labor force include those aged 16 years and older in the civilian non-institutional population who are neither employed nor unemployed.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
