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Permalink Reply by Gary on March 23, 2009 at 2:28pm
Permalink Reply by Gary on March 23, 2009 at 2:32pm Gary said:I don't think we are quiet in a depression yet. We still have a ways to fall to get to that. You might want to read up on your history of depressions and look at pictures of the 1929 great depression to see what one looks like. It kinda like people were calling this a recession before it was. Then again if enough believe it is and wish hard enough it will be one. I guess people have to live through something harsh to feel important. Sorry maybe I don't understand situation enough, but I know its not a depression yet.
I'm fortunate in that just for my own education I started studying the history of the US economy 22 months ago because I did not understand how the US and it's citizens could sustain such large debt loads. (a subject I've wondered about since I left high school in '85) It was a real eye-opener. As a result I'm down 8.1% for 2009 instead of the 40+% most are down. My personal belief is that we are in a depression and it will get MUCH worse and last longer than the Great Depression. I sincerely hope I'm wrong. Apologies for being off-topic.
Bill
Keeping the power of positive pessimism alive and well!
(Expecting the worst while hoping for the best)
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