Comment by bink
5 months ago
We aren't anywhere close to being in a depression though. What extraordinary situation requires the government to take a stake in a public company and under what conditions will this position be liquidated?
5 months ago
We aren't anywhere close to being in a depression though. What extraordinary situation requires the government to take a stake in a public company and under what conditions will this position be liquidated?
We are very close to being in a depression. Most of our money has nothing to do with actually feeding or housing people. If the wrong thing shifts, we're toast.
The unemployment rate is still near historic lows and while new job numbers are getting worse they're still positive overall. We aren't anywhere close to being in a depression currently.
The unemployment rate does not count people who stopped trying. We are far closer than you think.
> We aren't anywhere close to being in a depression though.
This may be true in the economic sense. But “depression” is as much a political sensation as it is a technically defined economic term. We happen to live in an era where economics for the public is profoundly politicized.