Paul Krugman, economist and NYT columnist thinks so, and suggests that now is not the time to radically cut back in spending. He says that recent speeches coming out of Europe seem to be taken from the Hoover playbook, and he's worried.
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6 comments:
No Question. Using common sense shows you we have been in a falsehood of growth. Businesses were in trouble, then they were given a reprieve by the Government. Their debts taken from them by the Government, given an excuse to lower their workforce without the Unions and others making them out to be the villians, which in turn lowers expense and selling their products at the same price and raising their fees without a fight could only mean more profits. Now they don't have the larger workforce and the subsidies. This made people believe / spin it to appear we are in a recovery. That means we are back to / never left step one, recession, depression whatever you call it. There has been a lot of disquising the problem and we still have no solution but the Government is spending more. So did we ever recover? From a business persons perspective the answer is no but more money in their pockets per say. People need to open their eyes.
It's comming and fast. obama will have you by the ball$ then. This will be the one that will destroy us. You can print so much money that it won't be worth anything.
The previous "stimulus" was for the elite international bankers. They got their's!
The Federal Reserve printed up some money (pushed keys on the mainframe to create electronic money) and transferred it to themselves and friends.
The U.S. Citizens will pay them back for what they created WITH INTEREST. It's only fair.
Now that the real economy is totally blown out the depression will come. The Country can't afford to print any money for the regular people - why would they anyway?
So we should all accept cutbacks in the services we are accustomed to from the government (nanny state) and begin to pay down the debt (which was created out of thin air!).
I need to get some new tin foil for my hat.
The Obama depression !
The American Dream, you can have it. I would rather be happy and broke.
"The Depression" was because Government was not sophisticated enough to protect the people..and their life's pursuits
what we have here today is a Government that thinks it is so sophisticated... that the people connected to it are the only ones that deserve both raises and job security..
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