Depression?

[ILG]

Originally Posted by RevDWW

Seriously, is a sharp decline the only indicator that a nation is in a depression?

My gut (and much of what I observe) tells me it's going to get a lot worse before it gets better.

Yeah, I've never seen anything quite like this....

[EA]

Stocks pushed higher on Friday on hopes for a new plan to stabilize the banking system and the expectation that an economic stimulus plan will win congressional approval.

The market's performance came despite the biggest drop in payrolls in 34 years and was led by gains in financial, technology, telecom and metals stocks.

The government said the economy shed some 598,000 jobs in January, far more than expected. That national unemployment rate hit 7.6%, up from 7.2% in December and the highest rate in 16 years.

Yep, things are just peachy.

We are now in our fifth quarter of steep recession. Congress is working on a complete economic bailout after they already bailed out the banking industry and the auto industry.

Yep, juuuuuuussssttt peachy.

Get real, people.

Next up? Runaway inflation is coming to a shopping center near you say......oh.......somwhere toward the end of '09 beginning of '10.

[mizpeh]

Originally Posted by Edward Anglin

Yep, things are just peachy.

We are now in our fifth quarter of steep recession. Congress is working on a complete economic bailout after they already bailed out the banking industry and the auto industry.

Yep, juuuuuuussssttt peachy.

Get real, people.

Next up? Runaway inflation is coming to a shopping center near you say......oh.......somwhere toward the end of '09 beginning of '10.

Is that prediction from the German online economist?

[RevDWW]

The current conglomeration of morons in Washington are no going to stimulate the economy into prosperity. Prosperity IS NOT just around the corner. Wake up folks. There is a difference in being realistic (some would label us gloom and doom) and those that listen to the band playing on deck as the Titanic slowly slides beneath the waves. OUR NATION AND IT"S ECONOMY ARE IN DEEP TROUBLE!!!

Some say "The Lord will take care of me." He will. Maybe He's taking care of you by letting folks give a heads up on being prepared for the worst. Just like He helped the Church in Jerusalem sell there houses before the city was destroyed.

Get as much of your debt paid off as possible. Be prepared to feed your family. Start a "victory garden' . Several (non church) sources are talking a drought conditions in this Country and possible food shortages this year.

Hyper inflation and/or a devaluing of our currency is coming. The Fed can not just continue to print money and expect it to hold it'd worth. Be prepared to barter services or commodities.
To that end think about things people will find valuable. Salt and cooking oil are just two examples.

I am not an alarmist or a henny penny. Just an observer of the times!