Recession or Depression; Who Cares What You Call It? »
Posted By Spadecaller 8 months ago in Political NewsWhy is the term "recession" used? Using it has certainly not aided consumer confidence nor has it softened the fall of stock markets. Other than those in the middle class many of whom are busy whistling in the dark, we have a powerful group of corporate insiders who will go to any lengths to prevent a confrontation with those they have been exploiting over the past decade. Unfortunately for them, their efforts have failed. Hiding the current depression like a pea under the walnut shell is no longer working. Is it not about time for Americans to put aside the phony rhetoric? Has not the time come for Washington politicians, the Wall Street cheerleaders, and the media pundits to take the first step - to admit that America, the land of opportunity, is experiencing a major depression?
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Spadecaller8 months ago
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While a handful of America’s wealthiest corporate leaders continue to describe the current financial collapse as a recession, millions of Americans are losing jobs, homes, and their dreams of a more promising future for their children. Are Americans ready to start admitting the truth?
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jovial8 months ago
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The truth is it doesn't really matter to the regular guy on the street what they call it. The outcome is the same. The middle class and the working poor are fighting for their lives now. This election of Obama was the chance of a lifetime for the poor and working class people of this country to fight back and take back a piece of America that was taken from them. Because of the inherent conscience of these Americans they feel that they should be fair about the way these corporate and government powers are treated. Just look at some of the Democrats running over to the minority Republicans to help them get their concerns heard. Look at the Democrats showing concern for banks that consistently gouged the poor and middle class Americans. If you're poor or have too much credit they offer you a credit card with a 30% interest rate. If you're rich or affluent the same card can carry as little as 0% interest. Did the banks and credit card companies ever think about justice for it's poorer credit holders? Did the Republicans ever care about what Democrat concerns were at the peak of their majority in Congress and the Senate in the 90's and the first six years of the last administration? Did Republicans care whether Democrats would have to filibuster? NO! In a matter of fact they threatened to remove the filibuster all together. It's time for Americans to get off the fence. If you are for the working middle class and the poor of this country, now is the time to take your share. If Republican control ever returns to the Whitehouse and Congress the window of opportunity may never open for us again.
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Sorry Spade, Had a lot on my chest to get off.
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goldsilver321Comment removed: Hard Banned
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Spadecaller8 months ago
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Progressive:
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FTA:
The difference between a recession and depression has been most aptly described in this anonymous quote: "A recession is when your neighbor loses his job. A depression is when you lose yours." According to this realistic interpretation, many of us who remain untouched by hardship prefer to ignore the plight of those affected by the failing economy. It is this kind of self-centered disunity that has enabled many corporations to manipulate our government and pervert the American dream. One good look at the current crisis is proof enough that this "dog-eat-dog - each man for himself" philosophy has not served our nation or the world well. -
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canadianrancher578 months ago
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Sorry I don't have time yet today to read the article but after talking to many people in farming and also in our town which doesn't have many high paying jobs the word depression is not just an ecomonic term but in our area it is a state of mind as well. People are really defeated as far as thinking of the future and most are just concerned about day to day living. DEPRESSION what a fitting word.
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Will read the article later and see what people have to say. -
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not2needy8 months ago
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I have said it before and i will scream it from the roof tops! America's middle class are the true tax payers, their tax dollars have been the grease that has kept the wheels in this country turning, and we deserve to be told the whole truth, and nothing but!
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The ultra wealthy don't think they should pay taxes because they "worked hard" for their money, they have been protected from paying in the past, and the burden has fallen on the middle class. The indigent and jobless can't pay taxes, and now that the middle class has vertually disappeared, so where are the tax dollars going to come from, UNLESS the wealthy are taxed accordingly????? This is what Obama has said should and would happen, the wealthy of this country would no longer have a tax free ride. Not only is he being fought by wealthy repubs, but wealthy dems as well. They want things to stay the way they were, but if it does, we will end up worse than Russia during the days of Kruschev, scrambling for rotten foods in empty markets.-
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Spadecaller8 months ago
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How true n2n!
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We have seen what unregulated corporatism has done to the middle class and how it has affected the banking system and the entire world. Without a strong middle class in the United States, our nation will continue to fail as democracy and as an advocate of personal freedoms throughout the world. Our example has not been a good one for several years. Most of the entire civilized world knows this. We better wake up soon. -
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coolslow8 months ago
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n2n, I know that this is the way you feel, bu the facts are that the middle three population quintiles (60%) pay about 25% of the federal income tax revenues. The top 20%, or the 5th quintile pay about 80% of the taxes. (the first quintile pays 0)
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The use or benefit of tax dollars spent by the government per quintile are very nearly the inverse ratio. Check the tax foundation website for a lot of useful information.
I'm interested to know what you think taxing "according" is? The fifth quintile starts at $100,000 household income a year. What percent above 80% of the total taxes paid do you think this group should pay?
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Spadecaller8 months ago
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Those that want to hold to the course are unable to see the trees for the forest. The past course was never a sustainable one and inevitably would lead us to this same outcome, if repeated. That is the definition of sanity; doing the same thing and expecting different results. Those dems and Repubs who want to repeat the past mistakes must be kicked out of office so that we can establish a cooperative governing team that will represent all Americans and not just the wealthy and privileged few.
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not2needy8 months ago
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The sad part of that is, it's the wealthy cons and libs that have the money to get on the campaign trail and make promises they have no intention of keeping. We need to rally around decent people in the next elections, the way we did with Obama, and help get them elected, otherwise, we're doomed!
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