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Bad Economy...when is it a depression?

HeaveToo
HeaveToo
The way this economy is going I think that we could be heading for a depression. I wonder if we will end up like we did in the great depression. It seems that jobs are starting to go away and companies are folding. When will they come out and say that we are in a depression?
deleted_user
deleted_user
i've been in a depression my entire life. one more "dip on the rollercoaster" as far as i'm concerned.
deleted_user
deleted_user
johnsculler--Excellently put, your 25% is right on for the 1930's and regulations will be the only way to get out of this mess at this point, that's agreed.

By the way, the quote that john started with was by Harry Truman. (fyi)
deleted_user
deleted_user
I experienced 15% unemployment in British Columbia in the early 1980s and we still didn't call it a depression. I think that we call it a depression when all the optimists have finally capitulated. I believe that this current liquidity crisis will be solved since it seems to be "mechanical" problem rather than a fundamental one. There still are areas of the economy that are doing extremely well such as energy, farming, and heavy equipment manufacturing. America has always used its downturns to re-tool its industries and re-train their workforce. I've learned over the years that the people will pull this country through in spite of their government.
deleted_user
deleted_user
If you look at this from a historic point of view...this happens everytime we are having an election with a lame duck president in office.

The uncertainty of a new administration and not knowing which party that administration will hail from..nothing new here folks.
deleted_user
deleted_user
Courier,

I recall a presidential cycle theory of investment that always assumes that an election year is a good time to invest because politicians spend money like crazy. Sometimes it's the exception that proves the rule I guess.