So, somewhere in the middle of this finally acknowledged recession, there was a tax rebate. I am just wondering what affect it had on this still visiting recession? As I'm as ignorant as a box of rocks when it comes to economics, I'd sure like to be pointed to a good, simple article or post that shows it's wondrously medicinal qualities. I figure, considering all the hype it got, it must have prevented the recession from turning into a depression.
Recently in Economic Depression Category
MSNBC
The measure would rush bridge loans to Detroit's struggling Big Three but would also demand that the auto industry restructure itself in order to survive and would put an overseer chosen by President George W. Bush in charge of monitoring that effort, according to a draft obtained by The Associated Press.
I was hopeful for a good outcome until I read the above graph.
What the hell were they thinking? Hello! Remember Brownie? Katrina? Iraq occupation? The unfinished war in Afghanistan?
This is stupid beyond belief. The man is incapable of leadership. He sure as hell never could assemble anything remotely resembling a successful team. Now congress wants him to pick the person who will oversee the effort to restructure the US auto industry. Where's Einstein when you need him to remind people of the definition of insanity?
What the hell were they thinking? Hello! Remember Brownie? Katrina? Iraq occupation? The unfinished war in Afghanistan?
This is stupid beyond belief. The man is incapable of leadership. He sure as hell never could assemble anything remotely resembling a successful team. Now congress wants him to pick the person who will oversee the effort to restructure the US auto industry. Where's Einstein when you need him to remind people of the definition of insanity?
Leave it to the Bush Administration to announce a recession at the start of a depression. But, to their credit, at least the two words rhyme.
Is it really that hard to recognize that nothing has changed since the last millennium except our ability to engage in denial?
A bank, by any other name is a bank. It wasn't, isn't and will not be, about defining the term bank. It was, is, and will always be about avoiding being regulated.
Seriously; Duh
A bank, by any other name is a bank. It wasn't, isn't and will not be, about defining the term bank. It was, is, and will always be about avoiding being regulated.
Seriously; Duh
CNN CommentaryBERKELEY, California (CNN) -- Every time the economy and stock market turn down, financial historians get predictable calls from reporters.
Could this be the start of another Great Depression? Could "it" possibly happen again? My stock answer has always been no.
However, reading through Barry Eichengreen's article, he never really affirmed his stock answer. In fact, as he continues on he implies, IMHO, that before the next President is inaugurated there must be action. To me he is saying it is quite possible the next great depression is just around the corner.
Also, while trying to note some of the major differences, he also points out some of the similarities.
I know this much; McCain is as ignorant about economic crises as the leaders back in the 20s and 30s were. If he gets in office, we are all screwed.
Also, while trying to note some of the major differences, he also points out some of the similarities.
The Great Depression resulted from a series of economic and financial shocks -- the end of a housing bubble in 1926 and the end of a high-tech bubble in 1929 -- but also from truly breathtaking neglect and incompetence on the part of policymakers.I hate to be a sour puss, but it seems we are facing a very similar situation, only the high-tech bubble of our economic situation was the .com bust at the start of this administration's watch, which it never really dealt with, and now, of course, the housing bubble that has taken Wall Street down. And let's not forget the damage done by September 11th, 2001 to our markets, which was right on top of the .com bust.
I know this much; McCain is as ignorant about economic crises as the leaders back in the 20s and 30s were. If he gets in office, we are all screwed.
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