Since The Great Depression

How many times in the last year have you heard the phrase "...since the Great Depression"? Some of it is media fodder to elaborate their sensationalist mantra. But dig deep into what is going on and the truth is, we have some issues to deal with. At the time of this writing, I did a quoted Google search on the phrase "since the Great Depression" and found almost 2.7 million hits. Now, for those unfamiliar with a quoted Google search, any time you put a phrase in quotes, Google will only search for that entire phrase (within some margin of error). I am a bit afraid to do an unquoted search. For those braver than me, give it a shot! My Grandparents lived and struggled through the Great Depression. My parents were born during that period but were too young to remember much. However, a period like that tends to linger on long afterwards. I only know my paternal Grandmother and she was always quite frugal. My parents carried on that frugality during my earlier years, but later loosened their purse strings as the economic conditions of the 1980's and 1990's offered many a prosperous livelyhood. So why is the term "...since the Great Depression", or alternatively, "...not since the Great Depression", being bandied about so much? Is it just a bunch of doom and gloom and we should all just ignore it? I am sure there are people who think this. But more fundamentally, could it be that we really are experiencing another depression and nobody wants to admit it? By using this magic phrase, it gives our government the ability to motivate the masses that there is a problem but perhaps it protects them from actually having to use the dreaded "D" word. That word is detrimental to elections. It tends to get politicians voted out of office. Why don't we just use the word and get it over with. Depression! We are in a Depression! There I said it! Now, maybe we can take the steps to move on with our lives and deal with it. By trying to do everything in its power to avoid the "D" word, our government could be prolonging its effects by attempting to inflate assets that don't deserve to be inflated. Companies that were irresponsible and are bankrupt should be allowed to fail. Let the Constitutional provision of bankruptcy step in and handle the situation. There are, by the way, no provisions for bailouts and stimulus packages in the Constitution. So what is the difference between a recession and a depression? There is an old economist joke that says, when your neighbor is out of work, it's a recession; when you are out of work, it's a depression. Economists will vary with their definitions, but simply a depression is a prolonged recession. In either case, economic contractions are a natural part of the business cycle. It is a cleansing of the system. Any interruption by the government disrupts that cleansing and the results are simply unpredictable. -- For a recession/depression proof way to always earn money, click HERE. rate cutsdeflationSource:

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1 comment:

Anonymous said...

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