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Depression

Discussion in 'Economics and Financials' started by Kanye West, Oct 8, 2008.

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Are we in a Depression or Recession

Poll closed Jan 16, 2009.
  1. The United States economy is fine.

    0 vote(s)
    0.0%
  2. Recession

    22 vote(s)
    84.6%
  3. Depression

    4 vote(s)
    15.4%
  1. Kanye West

    Kanye West 'Parcells' Guy

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    Do you guys think we are in a depression or recession? Why?
     
  2. anlgp

    anlgp ↑ ↑ ↓ ↓ ← → ← → B A

    I'm in both.
     
  3. texasPHINSfan

    texasPHINSfan New Member

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    rofl.

    we're in a recession.... can't say where it's going to go, but predicting a depression would be very dour.
     
  4. daphins

    daphins A-Style

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    Is there a huge difference? Isn't a depression just a prolonged recession?

    And ROFLMAO at anlgp! You hit the nail on the head man.
     
    anlgp likes this.
  5. anlgp

    anlgp ↑ ↑ ↓ ↓ ← → ← → B A

    I was jokingly serious. That is I was trying to be funny but it's true.

    I'm good at ruining jokes :(
     
  6. daphins

    daphins A-Style

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    Hey man, I feel ya! I'm a recent graduate in architecture. Great GPA, portfolio, experience, and I can't even SNIFF a damn job. 60k in student loans, no health insurance...can't get a whole lot worse off than I am now honestly. Short of a serious illness or death obviously.
     
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  7. texasPHINSfan

    texasPHINSfan New Member

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    i think the U.S. economy will be fine, and that we're in a recession. i won't say "depression" as the only precedent for that had heinous unemployment, rampant inflation, and saw nearly half the country struggle to afford food.

    we are no where near that bad. we are definitely used to an easier lifestyle and therefore when there is any sign of strain, people will want to cite the "D" word to magnify the problems. we're not in a depression, and i doubt we'll get there.
     
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  8. jdang307

    jdang307 Season Ticket Holder Club Member

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    People are debating if we're in a recession yet but some of you guys think Depression?

    Look for declines in GDP of 10% or higher for a depression. Lets hope and pray we don't have a sever recession of like 8-9% though.
     
  9. dolfan06

    dolfan06 New Member

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    i think recession, but i don't think its as bad as every financial genius makes it out to be. i think there are a lot of young people in the stock market right now that are running scared. i think the drop in the housing market started this crap. blame the lenders, they talked people into houses they couldn't afford and damn the people for listening.
     
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  10. vt_dolfan

    vt_dolfan Season Ticket Holder Club Member

    I think right now we are in a recession...but...technically....we arent in either...as we havent had two quarters of negative growth in a row.....but you can take technically speaking and stow it....because IT FEELS LIKE ONE for most of us...

    As for Depression....I think we need to define a Depression in terms of 2008, I dont think a Depression even now will look like 1932....
     
  11. finswin56

    finswin56 Get a mop

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    St. Augustine
    Recession, but things can change depending on what the economic policy is going forward. I won't get into it any further because I don't want to make this a pofo thread.
     
  12. finswin56

    finswin56 Get a mop

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    A depression is defined, by four consecutive quarters. Also, economic indicators show deeper problems in unemployment, gdp etc, as a general rule, but not the definition.

    We won't see the Great Depression. That was a very different time compounded by horrible policy that saw two depressions back to back with the recovery before the '37 depression not even matching the highs before the '29 Depression. That's unprecedented as far as I know.
     
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  13. azfinfanmang

    azfinfanmang Premium Member Luxury Box

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    Forget where (I think a Yahoo headline) Unemployment rate is actually significantly dropping. Therefore No depression

    I agree that the housing market has caused MUCH of this. Lending practices, and making people think they can afford it has really screwed us for sometime.

    We will learn to not be able to go out to eat as much (Yes eating at Taco Bell is still eating out).

    We wont be able to afford new Video games every month (Week for Mor)

    and we wont be able to afford 8.00 a pop for Movies at the theatre (Which quickly turns into 60-80 for a family of 4).

    We will be fine.
     
  14. finswin56

    finswin56 Get a mop

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    :huh: I would really like to see that article.
    Last week's Non Farm Payroll report showed another 159,000 job loss. Today's unemployment claim report showed further weakening. Last week's unemployment rate stayed at 6.1%, but that's not improving.
     
  15. dolfan06

    dolfan06 New Member

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    my father-in-law is 87 and thats all he talks about is the depression. scares the hell out of me. said his parents used to let the kids eat before they ate.

    one thing that has people scared is the friggin media, broadcasting every little thing bad and making people nervous about their money.:yes:
     
  16. Boik14

    Boik14 Season Ticket Holder Club Member

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    I would say its a depression. Not only is unemployment rising and the stock market falling by hundreds of points every day but individuals are looking to curb spending in anyway possible. I work in one of the wealthiest areas in the country; Jose Reyes, Moises Alou, among many other athletes and celebrities, and even people there arent looking to spend money nearly as liberally as they once did. If theyre hurting, I know the average person is.
     
  17. padre31

    padre31 Premium Member Luxury Box

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    Exactly, one of the key differences between 2008, and 1929-1933 (most folks think the world went to hell in a handbasket in 1929..not so it was a looonngg slooow slide) is that the 20's saw the actual producers of everything from Grains to Cars overextend themselves building additional capacity.

    They did so on convenient credit terms, and when the bottom dropped out, their went the farm, factory, what have you, only it was widespread, our commodities boom lasted from August 05 until October 08, so the widespread effect won't hit mainstreet like it did in 29-33.

    I've said it before, turn off the TV, take a walk, don't watch the sausage being made...trust me on the sausage...
     
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  18. azfinfanmang

    azfinfanmang Premium Member Luxury Box

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    Man, I KNOW I saw it yesterday. What it actually stated was "The Jobless rate" was down. Don't know how that equates to Unemployment? Isnt it just the reciprocal?

    Now ALL I can find is Stock Market news...EVERYWHERE. :pity:
     
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  19. finswin56

    finswin56 Get a mop

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    Not to bust your balls, but you just described a recession.
    I think the American public has had so good for so long, that they tend to think of a recession as merely a momentary inconvenience. Recessions are not all made equal, but they do in fact suck. We're really not near a depression yet. It can happen, but there's plenty of time to avoid it as long as the economic policy doesn't ****** business growth.
     
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  20. adamprez2003

    adamprez2003 Senior Member

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    the depression is coming but not for a few years. The first of the baby boomers are starting to retire and we dont have any money for them lol. Our solution will be to print more money which will further devalue the dollar. Of course Europe will do the same and eventually the whole system will collapse again into a great depression
     
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  21. dolfan06

    dolfan06 New Member

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    there is so much in the news lately about the stockmarket, its really causing a panic. i know very few news papers that tell it like it is. face it, people like to read dirt. same with news programs, people always tune in if the news is bad. i think thats why there are so many NASCAR fans. george carlin said it best, "where else can i see a 27 car pile up and not be in the damn thing."
     
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  22. Boik14

    Boik14 Season Ticket Holder Club Member

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    Havent we had 4 straight quarters of negative growth (GDP)? By definition thats also a depression. Not in the same terms as 1929 but its still a depression. By definition all a depression is, is essentially a prolonged recession.

    Youre right the American public has had it good for a very long time. We have been spoiled by our own success. I think we forget that the market cant always go up and up and up and never come down. :up:
     
  23. PeaTearGriffin

    PeaTearGriffin Season Ticket Holder

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    This poll needs a "none of the above" choice. By definition we are not in a recession. However, it is quite clear that there is something wrong with our economy.

    Actually for the last year and a half RGDP has increased every quarter but 1.
     
  24. finswin56

    finswin56 Get a mop

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    Not even close. There has only been one qtr of negative gdp recently. That was the 4th quarter of last year at - .02%
    Here's a good link for that kind of information.
    U.S. Department of Commerce. Bureau of Economic Analysis
     
  25. Fin Fan In Cali

    Fin Fan In Cali Dolphin fan since 1970 Luxury Box

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    I would say the country as a whole is a recession. California, is at the bottom of a recession, and could go into a depression shortly. It will interesting to see what September's unemployment rate is.
     
  26. Fin Fan In Cali

    Fin Fan In Cali Dolphin fan since 1970 Luxury Box

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    I have more good hard working friends that could be getting laid off from work. This area has more commercial space available then it has ever had before in an article in today's paper. This is not a very good sign for the economy at all.
     
  27. jdang307

    jdang307 Season Ticket Holder Club Member

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    I was about to say, I wasn't even sure we had 1.

    There are differing definitions of recessions as well as depressions. I heard a depression is more than 10%. 4 quarters of say, -0.2% GDP wouldnt sound like a depression to me. Just a prolonged recession.

    Another definition of a recession that isn't measured in quarters (and to me more accurate) is just the time the GDP goes from peak to trough. May be a week, a month, 4 months etc.
     
  28. Fin Fan In Cali

    Fin Fan In Cali Dolphin fan since 1970 Luxury Box

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    Another reason the Gov. Arnold Schwarzenegger had to ask for a loan from the Fed is due to all the people in the state that are on unemployment right now which is growing monthly. Along with the crazy spending by our politicians as well. That is another story.
     
  29. Fin Fan In Cali

    Fin Fan In Cali Dolphin fan since 1970 Luxury Box

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    A lot of people are slowing down in work out here. My wife is slowing down a lot at work too. She is a good guide of how things are going in the economy. She is a hair stylist.
     

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