According to the lamestream media we are almost in a depression just like the “great” depression in the 30’s. On a side note why is it called the “great depression” when it was anything but great……
Anyway the media has been pounding the recession scare into us for months. Even though economics idicators like unemployment numbers are low and the trade deficit while not great isn’t horrible either.
Sure there are some sectors that are having trouble. If you are in the financial industry specifically related to housing or mortgages banking you might be thinking it’s a depression. If you are a real estate agent and have not sold a home in months you could be concerned. The housing meltdown is just the other side of the over inflated, over heated housing price rise party we experienced in the last years. All those special loans that got people into homes they couldn’t afford in a real market and are now upside down and being foreclosed is the hangover from the party. But the housing market will correct and turn around to a normal market again because people still need a place to live. But this isn’t a depression….
The trucking industry is hurting because of high diesel prices that is killing long and short haul truckers. The high price of fuel is cutting into the profits of business and into the budgets of everyone. The airlines are also having problems with the price rise in aviation fuel. As fuel prices rise those costs are generally passed on to the consumer in high ticket prices or higher shipping costs meaning higher consumer prices in general. This sounds like inflation, but not a depression.
I have heard the saying “if your neighbor loses their job it’s a recession, if you lose your job it’s a depression” During the great depression there were food lines and people selling apples on street corners. Kids selling pencils to get a penny. I don’t see any of that happening…..What I do see is people sitting a StarBucks drinking a 5 dollar cup of coffee.
I see resturants with waiting lines to eat, stores with shoppers buying stuff made in China (a whole other story). I looked a the job ads today in the local newspaper….should be called the adpaper, lots of ads but little news. Anyway in the job section the wasn’t some giant text saying “SORRY NO JOBS”……….
There was lots of job ads…..if it was a depression wouldn’t there be no work????
I see people at grocery stores filling their carts….if we were in a depression would they be standing outside hoping for a handout?
I don’t know maybe it’s just me…..I don’t see the “bogeyman” that the lamstream media wants to convince us is pounding on the front door. I think it’s an election year and media wants one of the two “socialists” elected so they are trying to scare the crap out of the uniformed.
Are there people that are having some trouble….sure. But there are always people having trouble economically. And for them I’m sure it hurts. But we have bigger problems coming and soon….
The fact that we don’t have any kind of an energy plan to become less reliant of foreign sources. The fact that China almost owns us because our government is selling the farm and China is buying. The Feds is printing money like there is no tomorrow devaluing every dollar we save. The president of Iran wants to get a nuclear bomb as quickly as possible so he can bring on the end of the world…….these are just of the few bigger issues we will face.
So are we in or heading into a depression??? I don’t think so but some of the big issues we are going to have to face in the near future will be pretty depressing…..