Another small bonfire. Dunno if this one will grow or not. Funny thing is they just cannot seem to put the blame where it belongs.
The link:
http://www.democraticunderground.com/111657369The OP:
eridani (42,128 posts)
The Greater Depression
http://www.nationofchange.org/greater-depression-1409492851
First it was the 2007 financial crisis. Then it became the 2008 financial crisis. Next it was the downturn of 2008-2009. Finally, in mid-2009, it was dubbed the “Great Recession.†And, with the business cycle’s shift onto an upward trajectory in late 2009, the world breathed a collective a sigh of relief. We would not, it was believed, have to move on to the next label, which would inevitably contain the dreaded D-word.
But the sense of relief was premature. Contrary to the claims of politicians and their senior aides that the “summer of recovery†had arrived, the United States did not experience a V-shaped pattern of economic revival, as it did after the recessions of the late 1970s and early 1980s. And the US economy remained far below its previous growth trend.
Indeed, from 2005 to 2007, America’s real (inflation-adjusted) GDP grew at just over 3% annually. During the 2009 trough, the figure was 11% lower – and it has since dropped by an additional 5%.
<snip>
Meanwhile, in the US, the Federal Reserve under Janet Yellen is no longer wondering whether it is appropriate to stop purchasing long-term assets and raise interest rates until there is a significant upturn in employment. Instead, despite the absence of a significant increase in employment or a substantial increase in inflation, the Fed already is cutting its asset purchases and considering when, not whether, to raise interest rates.
A year and a half ago, those who expected a return by 2017 to the path of potential output – whatever that would be – estimated that the Great Recession would ultimately cost the North Atlantic economy about 80% of one year’s GDP, or $13 trillion, in lost production. If such a five-year recovery began now – a highly optimistic scenario – it would mean losses of about $20 trillion. If, as seems more likely, the economy performs over the next five years as it has for the last two, then takes another five years to recover, a massive $35 trillion worth of wealth would be lost.
See thread on venezuala dummie.
cantbeserious (5,425 posts)
1. The Great Depression Is Not Working For Anyone But The 1%
eom
Who has been president since 2008?
Jackpine Radical (41,301 posts)
3. That's kinda like saying slavery didn't work
for anyone but the slaveholders.
Dummie promotes slavery?
cantbeserious (5,425 posts)
4. The Facts Speak For Themselves - Read About Peak Inequality Here:
http://daviddegraw.org/peak-inequality-the-01-and-the-impoverishment-of-society/
Bush economy looks pretty damned good now, don't it dummie?
cantbeserious (5,425 posts)
6. Or How About The Princeton Study On Oligarchy And The Demise Of Democracy In America
US No Longer An Actual Democracy - Princeton Study
http://www.amazon.com/Capital-Twenty-First-Century-Thomas-Piketty/dp/067443000X
Link To Study
https://www.princeton.edu/~mgilens/Gilens%20homepage%20materials/Gilens%20and%20Page/Gilens%20and%20Page%202014-Testing%20Theories%203-7-14.pdf
Who has been president since 2008 dummie? Want a hint?
Jackpine Radical (41,301 posts)
7. Yup--Know that one too.
We are soooo ****ed…
Who is president again?
That is it for now. Might grow. Might not.
Now for my 12 cents (inflation, ya know?)
Look dummies. We warned and warned you. You called us ignorant. We warned you some more. You called us vile names. You worked to elect obumbles, you were successful, and now you freaking OWN IT!
