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| | |-+  David Rosenberg : Economy Caught in Depression, Not Recession
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Author Topic: David Rosenberg : Economy Caught in Depression, Not Recession  (Read 889 times)
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StatesRights
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« on: August 24, 2010, 09:42:29 pm »
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http://www.cnbc.com/id/38831550

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Writing in his daily briefing to investors, Rosenberg said the Great Depression also had its high points, with a series of positive GDP reports and sharp stock market gains.

But then as now, those signs of recovery were unsustainable and only provided a false sense of stability, said Rosenberg.

Rosenberg calls current economic conditions "a depression, and not just some garden-variety recession," and notes that any good news both during the initial 1929-33 recession and the one that began in 2008 triggered "euphoric response."


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Duh.
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Beet
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« Reply #1 on: August 24, 2010, 10:20:15 pm »
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At this point, it's still semantics.

Interestingly enough, depression itself was a euphemism. In the early stages of the Great Depression, instead of a "panic", it was said that we were in a "mere depression".
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A New Chapter

"I feel like Paulette Revere the recession is coming, the recession is coming! - Hillary Clinton, April 3, 2008
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StatesRights
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« Reply #2 on: August 24, 2010, 10:24:03 pm »
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At this point, it's still semantics.

Interestingly enough, depression itself was a euphemism. In the early stages of the Great Depression, instead of a "panic", it was said that we were in a "mere depression".

Depression isn't even a official term is it?
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Sasquatch
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« Reply #3 on: August 24, 2010, 10:37:10 pm »
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Politicians will never say the "D" word.

Never.
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Thoughtful Cynic
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« Reply #4 on: August 25, 2010, 02:42:02 am »
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At this point, it's still semantics.

Interestingly enough, depression itself was a euphemism. In the early stages of the Great Depression, instead of a "panic", it was said that we were in a "mere depression".

Depression isn't even a official term is it?

I believe there's a definition of three years of non-stop GDP contraction OR a 10% peak to trough contraction. By that definition, depression is a very common occurrence around the world.
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opebo
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« Reply #5 on: August 25, 2010, 08:15:00 am »
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So, States, does that mean you and Rosenberg accept the necessity of the cure?  Namely, enormously increased government spending and control in the economy.
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