Are we headed for a depression?

[Mike Garrett RAA]

Hardly a depression...except in the minds of those who want to see a Democrat as president. Recession...yep.

 

[c w d]

We have been headed toward a depression since the moment the last one ended.

Thanks Steven. Folks, the poll implies near future within 1 - 10 years.

Ray, some areas are and will always be in a depression. The poll implies national trends.



Geesh.....some people and their specifics.

 

[c w d]

Mr. Moderator

I noticed my recent depression poll was moved to the economics section. I can appreciate the reason why. However, being a poll I was hoping for the most exposure. And since the general category gets the most reads it was ideally placed. Could you move it back, please?

 

[The Warrior Monk]

I noticed my recent depression poll was moved to the economics section. I can appreciate the reason why. However, being a poll I was hoping for the most exposure. And since the general category gets the most reads it was ideally placed. Could you move it back, please?

This thread was moved to this section because it is the appropriate forum for it. There is nothing about appraising in this thread, therefore it does not belong in the General Appraisal section.

 

[Hamlet]

I was depressed last night so I called Lifeline.

Got a call centre in Pakistan.
I told them I was suicidal.

They got all excited and asked if I could drive a truck.

I vote yes.

 

[c w d]

This thread was moved to this section because it is the appropriate forum for it. There is nothing about appraising in this thread, therefore it does not belong in the General Appraisal section.

Dave, I think your position of moderator has left you out of touch with the common forumite. You don't know what it's like to be the little people no more. *cry* *sniff* *joke*

 

[Mike Garrett RAA]

Another fine reason I never chose to be a moderator...damned if you do...damned if you don't.

 

[Greg Bell]

CAUTION; DO NOT READ THROUGH ROSE COLORED GLASSES..


Eli Broad, the billionaire founder of KB Home and philanthropist is now sounding like a doom and gloomier. Earlier this week Broad came out stating that “this is worse than any recession we’ve had since World War II.” As more and more people jump into the bear camp, Broad also mentioned that investors would be “better off in cash” although what form of cash he did not specify:

“July 1 (Bloomberg) — Billionaire investor Eli Broad said the U.S. economy is in the worst recession since World War II and a recovery in the housing market is “several years” away.

“This is worse than any recession we’ve had since World War II,” Broad, 75, said in an interview yesterday. Broad, the founder of homebuilder KB Home, said the U.S. should avoid a depression on the scale of the 1930s because the country now has sufficient “safety nets.”

With home sales and prices declining and consumer confidence at a 28-year low, “I don’t see it turning around very quickly,” Broad said. The economy expanded at an annual rate of 1 percent in the first quarter, the Commerce Department said last week. That caps the weakest six months of growth in five years.”

 

[Terrel L. Shields]

a new economic voodoo name to avoid saying the D word.

was depressed last night so I called Lifeline.

Got a call centre in Pakistan.
I told them I was suicidal.

They got all excited and asked if I could drive a truck.

except in the minds of those who want to see a Democrat as president. Recession

I'm Republican leaning and I want a Democrat for Prez. Let him take the heat for the next 4 years...

Wait 'til it hits the papers that George Bush is tied to Hunt Oil which just landed a big contract with the Kurds in Iraq.... the fit will hit the shan.

Our economy is on the ropes. The difference between now and then is the compression of the time line. Farming was in the tank in the 20's. Speculation drove up the markets, then collapsed. RE followed nearly 2 years later. and it took war to actually pump the market up towards full employment and increasing wages. Crops and oil prices increased in the War years fueling inflation post-WWII.

Today that same scenario is compressed with farm prices and oil prices super low until the last 3 years when it begin to zoom up in a hyperbolic incline...the stock market is going crazy. The investment banks which are still loaded with oodles of Chinese and German money, are casting about for anything to make a quick buck. No one is satisfied with 5% returns and are willing to take enormous risks for 7-8% returns. Subprime was made for it. FHA is funded by us and its the "new subprime" a sure fire money loser. Where is the up side?

 

[Scott Lanz]

I was always under the impression that a recession is defined as two consecutive quarters of negative GDP "growth". I haven't seen those numbers posted.

To the OP, we would need to first have a recession to have a depression, by definition. Given Mr. Santora's valid response, the only viable answer to your poll would be yes.