Washington » There's a reason it's called the Great Depression. The epic hard times of the 1930s became the best-known depression in American history, but it doesn't necessarily take that kind of nightmarish suffering to trigger the D-word today.
In fact, some economists worry that the economy could be sinking into a milder depression, the kind spelled with a lowercase "d."
This isn't the 1930s of bread lines, rampant unemployment, a wipeout in the stock market. But, unlike recessions, which are easy to define, there are no firm rules for what makes a depression. Everyone at least seems to agree there hasn't been one since the dark days of Hoover and FDR.
That said, with each new hard-times headline, most recently an alarming economic contraction of 6.2 percent in the fourth quarter, it seems that something more drastic than a recession could be on its way.
7 comments:
well the unemplyment rate during the depression was about 16% and its like 7% percent now. so calling it a depression is kind of an exageration, but shit seems to be getting worse everyday so who knows
Oooooooohhhhhh look at Josh with his percentages and stuff. Looks like college done good for you smart guy.
The 90's created hundreds of thousands of jobs because of over inflated wealth. It just now that we're realizing that one person can do the job that three were doing in the past. With the increased population since the 30s there will always be jobs, but what people are failing to realize is that we were living beyond our means for so long.
Now that reality is here people just want to blame the government. We've got nobody to blame except our selves.
Why do you take so much pleasure out of making me feel stupid spencer
You deserve it for fucking up the Let Down show.
The title of this post looks like a band and a title of an album
DOWNTURN
with their debut album;
"Sinking into Depression"
how quickly we forget...i paid for you to get into starkweather
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