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Some worship him like a god and some think he's as wacky as Glenn Beck, but if Paul says we're there, I imagine an official declaration is not far behind.
What says you? ...is it time to officially admit this is the third depression? Would such a declaration cause more problems or does everyone pretty much realize where we are by now?
It somewhat depends on how one defines 'depression'. It's not as clear cut as, say, the temperature - I could say unequivocally that the temperature is over 90 today. But there is not a universally agreed upon metric for an economic depression.
I think about 65% if the U.S. is in denial about it, I do feel like we are very close to a depression. If hundreds of thousands weren't staying in foreclosed houses and not paying any mortgage I'm sure it would be clear we were in one. But banks are not kicking these people out so they are living in there for over a year and instead of saving up the money, these people are out spending at the malls etc. Plus we keep giving incentives for people to buy homes and cars they simply cannot afford in an effort to keep the american public from realizing the deep recession/depression we are in.
I personally don't see any light at the end of the tunnel. Nothing is going to change for the better anytime soon. Just my opinion.
Some worship him like a god and some think he's as wacky as Glenn Beck, but if Paul says we're there, I imagine an official declaration is not far behind.
What says you? ...is it time to officially admit this is the third depression? Would such a declaration cause more problems or does everyone pretty much realize where we are by now?
His columns are the perfect substitute for sleeping pills. As I said in another thread, I'm sure European leaders have a better idea of how to run their own economies than he (or Obama) do.
Dr. K admitted some time ago that his wife writes most his columns these days. She is far more concerned with furthering her political beliefs than anything resembling sound economic thought.
His columns are the perfect substitute for sleeping pills. As I said in another thread, I'm sure European leaders have a better idea of how to run their own economies than he (or Obama) do.
hahaha that is funny
european leaders have their heads in their asses right now, worried about French farmers and Italian leathermakers and whatever other special interest groups you can think of. They make these United States look like geniuses if you ask me.
It really doesn't matter what they decide to call it, it doesn't look good. The government will refuse to use the word depression at any cost because that makes it look as bad as it really is, and also make it sound like it there is no end in sight.
I think he is right on though. I really don't think we have seen the worst of it yet. We have solved any problems, only created money out of thin air to make it look like everything is fixed. The problems were just moved around and covered up to make it appear better. Had they just let everything collapse like it should have, then we would have had 2 or 3 tough years and started to come out of it. Instead we have just hide the fire underneath before everything explodes again, which will make it that much worse.
Just because I put a band-aid over the compound fracture doesn't make the compound fracture go away, just less likely to be seen from people's perspective.
Column seems more about supporting Obama spending rather than anything else - he is using the word "Depression" to get attention.
He (or his wife?) is a total partisan, just like Frank Rich is. That's what makes their columns so predictable and boring. I did read the Krugman (wife?) column about the Chinese currency the other day, though. However, he began to lecture China in the column. It seemed like imperialism, and made me uneasy.
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