Re: [Pen-l] Is we or is we ain't in depression; chicken little

[Jim Devine]

I'm glad people have given up the idea that "we're still in a
recession" since a recession refers to the economy going down. It
stopped going down (and may have done so by NBER standards in July of
last year), and has had an anemic and inadequate (i.e. jobless)
recovery which allows it to have a second dip.

The idea that the US is in a depression is more apt, but remember that
history never repeats itself. There are a lot of differences from the
previous two depressions the US has had.

Of course, it doesn't matter what we call the situation. What matters
more is how the majority of working people see it. Even if they see it
as a "depression," it's possible that they'll find scapegoats for it
(immigrants, Obama, CB, etc.)

Stephen Lendman:
> Long-time economic, political and market analyst Bob Chapman
> publishes the International Forecaster, offering incisive analysis
> absent through mainstream sources, especially important now given
> America's deepening economic crisis getting harder to conceal as
> evidence mounts.
-- 
Jim Devine / "Segui il tuo corso, e lascia dir le genti." (Go your own
way and let people talk.) -- Karl, paraphrasing Dante.
_______________________________________________
pen-l mailing list
pen-l@lists.csuchico.edu
https://lists.csuchico.edu/mailman/listinfo/pen-l