“The tipping point that will push us into this full-fledged depression is the imminent dramatic cut back in federal spending. A dominant Republican fringe demands it. A beaten Democratic Party, unwilling to fight for the sensible alternative, taxing the cosseted rich, will enable it. “
Economists have their standard definitions. They work their numbers and proclaim when we are in a recession, out of a recession, when an economic recovery is taking place, and when that recovery is merely hitting a “soft patch.”But really, who but the media, government officials, and economists themselves take these definitions seriously anymore when it comes to reflecting reality as experienced by most Americans? These days, not many people.
For most Americans, the recession didn’t end two years ago, economist definition notwithstanding. A recovery did not begin then. And the “soft patches” that have been occurring regularly in the last two years are not natural and unavoidable dips on the road back to traditional American economic well-being.
The country is still wallowing in recession. Unemployment has been vacillating between awful and getting more awful. Employment itself, except for those in the top economic rung, is not leading to any improvement in economic lifestyles, but rather a slow contraction of these lifestyles.
Given these realities, and the curiously detached mode of economist reportage, it is unlikely we will hear the “D” word uttered soon by these bean counters, or the media and public officials who employ economist terminology in their own economic descriptions. From them you won’t hear that we are on the lip of of full-fledged depression. But we are. Source: (1) The Moderate Voice
If the US calculated their unemployment rate the same way it was done in 1994, it would be 22%, or about the same as what was experienced during the Great Depression.
Is the U.S. headed for another Great Depression? f you were to ask the forty four million that know currently live on food stamps and the uncounted unemployed your answer would be that they are already in a depression. The government statistics indicate that the unemployment rate is currently at 9.1 percent however as everyone knows governments lie and will set the statistics at a place where they can get away with the propaganda.
“Instead, the current fight between Democrats and Republicans “ the aforesaid partial quote is taken from many articles which serve as an example of an oxymoron where it demonstrates is little difference between the Democrats and the Republicans just as there is little difference between the Liberals and the Conservatives in Canada and their domestic and foreign policies. Never ending wars generated by the corporate military industrial complex and middle eastern foreign policies based on the acquisition of resources of sovereign nations combined with the sellout of the American people by their elected members to foreign governments have place them in the position of being not only financially bankrupt but morally bankrupt.
The crash in housing prices is used to mask the real inflation rate, since housing prices figure largely in that calculation. But not food or gasoline – they’re “too volatile”.
47 million Americans are on food stamps – and that number continues to grow. Our US cousins – along with Canadians, and everybody else – are being lied-to by politicians of every political stripe. And the politicians – all of them – lie every time that they draw breath. We are not headed for another Great Depression – we are IN IT, and it’s only going to get worse.
The picture is much bleaker than that. We would like to add the subject of a ticking time bomb called public debt around the globe. By now, most should know that nearly every country, state, city, region and so on around the globe is in debt.We I call it a legalized(for now) financial fraud. The last great depression ended with world wars creating jobs and financial stability for a while.
The presently legalized public debt scam around the world could be a trigger which will unleash some very nasty results. Those responsible for this legalized financial enslavement of future generations are the rich, elite and the international bankers.
The same ones who control nearly all the mainstream media and most elected politicians. A grim situation. Keep adding zeros to this financial Ponzi scheme will delay and hoping for those who created this global financial fraud will provide a solution is a bad dream.
Read more: http://www.thecomingdepression.net/countries/north-america/when-will-they-announce-its-a-depression/#ixzz1d1Tujaj6
Original story at http://thecomingdepression.net
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