Did someone say "Depression"?
Whoops.
Not supposed to say that. Think it, sure. Recognize it, sure. Say it? Nope.
Especially if you caused it.
Gordon Brown suggests world heading for a 'depression'
As the financial gloom deepens, he told the Tory leader David Cameron today: “We should agree, as a world, on a monetary and fiscal stimulus that will take the world out of depression.”
In a statement after PMQs, George Osborne, the Shadow Chancellor, demanded clarification of the Prime Minister’s use of the D-word.
"The Prime Minister must personally and urgently clarify whether his statement today that the world is in ‘depression’ was a slip of the tongue, or whether he knows something that we don’t know,” he said. “For the sake of confidence he should clear up this confusion. Prime Ministers in particular need to be very careful about their use of language to ensure they don’t undermine confidence.”
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38 comments:
Hasn't Obama and many others already mention Depression. It is so obvious is anyone really surprise. I am not!
The problem wasn't saying it, it was backing off.
These people won't even stumble into the truth
Some Eurotatad said:
"The Prime Minister must personally and urgently clarify whether his statement today that the world is in ‘depression’ was a slip of the tongue, or whether he knows something that we don’t know,” he said. “For the sake of confidence he should clear up this confusion. Prime Ministers in particular need to be very careful about their use of language to ensure they don’t undermine confidence.”
Ahh, the world of European posturing.
Dear Eurotards:
Whatever condition the economy is in, is just the way it is; and has nothing to do with what ‘The Prime Minister’ says.
And I thought us Americanos are dumb.
Keefer, is it the air across the pond that restricts oxygen flow to the brain?
or is it in the water?
Dont see it around here.People still have lots of money to drink and eat out.Simply a contraction.
I'd say we are in a depression.
This is the WORST job market I have seen in my 20 year career.
Got cut from my last IT position 2 months ago. "Niche" is dead. Nobody is even pretending to have anything this time around.
Trying to get a job in alternative energy: You think that would be growing? Even THEY are laying off.
I wonder if Americans will be skinnier or fatter?
For the record, I'm starting to thing we're really, really, really, really, really, really, really f*cked.
Is that a sign of a bottom?
"The Prime Minister must personally and urgently clarify whether his statement today that the world is in ‘depression’ was a slip of the tongue, or whether he knows something that we don’t know”
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The fact that the world is in a depression is something that the world leaders and S&A'ers already know.
May God help the clueless!
-Mammoth
We have all been watching this develop for years on these blogs. I have always been an optimist, but this is a massive snowball that is only beginning to pick up steam. You take a step back and can see so many negative factors all converging at once.
Obama is a smart and decent human being, Bush was a dumb and morally bankrupt piece of garbage. But in the end both will go down as the one-two punch of the next great depression.
Brown MUST correct himself:
call the situation the;
George W. Bushco & Shotgun Dick Cheneyburton kill-the-middle-class forver and Fuck the World New Depression to go along with their phony, illegitamate corrupt War to Bankrupt America.
Lesson endeth.
The Financial Crisis Is Driving Hordes of Americans to Suicide
Link Here:
http://www.alternet.org/story/123563/
Yes we are in a Depression and it's just starting...
Oh man, there goes my retirement plan:
The Hartford Courant -- State May Seize Nickel Deposits On Unreturned Bottles, Cans
For the first time in 30 years, state lawmakers voted to seize the nickel deposits on bottles and cans that consumers fail to return to the store. The move — the House voted Wednesday, the Senate early today — is expected to generate as much as $25 million annually as the state tries to close its growing budget deficit.
But the beer wholesalers' chief lobbyist, Patrick Sullivan, said that seizing the nickels will lead directly to a price jump for beer drinkers. Wholesalers currently spend those nickels to pay for union drivers to pick up the empty containers, he said, and to pay the state-mandated handling fee that wholesalers pay to the retailers.
Cosmo Kramer is f*cked!
.
AND YET, THE POS STERLING AND EURO ARE HIGHER THAN GREENBACK. IT'S ALL RIGGED!
.
Tokio Girls said...I wonder if Americans will be skinnier or fatter?
Panasonic has decided to cut 15000 jobs.
You Japanese are screwed.
Are you hot?
Is that a sign of a bottom?
Not yet...hold...hold...The wannabes calling bottoms need to get fleeced first and throw the towel, then we jump in. Too many pundits calling bottom and faking rallies, so we know it's not time yet.
"Is that a sign of a bottom?"
No. When it is WAY worse than even you thought possible and the dolts finally acknowledge that things are bad and/or they have been scammed and lied to, then we will begin to make our final approach to the bottom.
Hmmm...nope, we continue to live la vida loca in Miami:
http://tinyurl.com/cdgdzs
I've never been so "busy", if you know what I mean...
Casey, its called credit cards.
Bill, the job markets bad because the country let itself become a one trick pony (financial). The pony just died!
Keith, why in such a rush to the truth? Take it all in slowly (think gas) and let it sink in like the majority of the population is doing. F**K THAT!!! I agree, this is getting completely out of control!!! Obama, I am afraid to tell you is a sham. He is as much for change as the career politicians standing all around him in his cabinet tell him he is. All he is unfortunately, is a very well spoken and message delivering freshman who is being hand led down each and every path his political hack administration decide he needs to go down. The word puppet comes to mind, but we just can't see the strings.
You know... your right were F**K*D!!!
10:51 PM Anonymous,
>Panasonic has decided to cut 15000 jobs.
>You Japanese are screwed.
Japan is not just cars and tvs.
I'm glad I'm saving yen and getting ready to buy a house cheap in the us.
>Are you hot?
Yes, I'm hot. Duh.
Remember the debate over whether Iraq was in a "civil war"? Remember the debate over whether the U.S. had "lost" in the Babylon Oil Colony? Remember the debate over whether the U.S. was in a "recession"? What about the debate over whether there's "global warming"?
All this time spent yammering about words, and "what is reality?" Meanwhile, reality is a zombie biting through our skulls on the way to devouring our brains.
Col. Jessup was right. We can't handle it.
When you decide it will never end, that it's a new paradigm, that it only goes down...then it has reached bottom.
As far as the D word. Now we are just arguing about the shape of the table at the peace talks.
Perhaps it will be easier to rebuild if we would just quickly wipe everything out instead of a slow painful sink into a depression?
Priorities also could be reset. Instead of money, we could remember to love our neighbor and put people first. Though I have tried to remove Him many times throughout my life, I also find much peace in a loving God and remembering that ultimately He is in charge. <><
Is it consider a Depression when job lost continue to accelerate with no end in site.
http://www.latimes.com/business
/la-fi-
jobs5-2009feb05,0,6580984.story
Jobs disappeared at an accelerating pace in January.
"Unfortunately, there is no light at the end of the tunnel yet," the Challenger Gray report said. "Even if the stimulus package is successful
"Industries that at first appeared to be immune to downturns, such as computer and pharmaceutical, are now rapidly shedding workers."
"Prime Ministers in particular need to be very careful about their use of language to ensure they don’t undermine confidence."
So if Brown says everything is OK everyone will be happy! It's so easy! But hold on - isn't that what Bush tried?
Is Obama saying "I screwed up" regarding trying to put tax cheats in his cabinet an example of careful use of language to prevent confidence being undermined? F.A.I.L. - and not even a month into it.
When will leading economists say the US is officially in a Depression.
http://money.cnn.com/2009/02
/04/news/economy/adp_challenger/
Job cut announcements by U.S. employers soared to 241,749 in January, up 45% from December's 166,348 cuts, according to Challenger. That was the highest number of job cuts since January 2002.
Layoffs rose 222% - more than triple - from January 2008, when 74,986 job cuts were announced.
Here's how I like to look at this Depression:
Yeah, most of us will be a lot poorer, but what doesn't kill us will make us stronger.
Feel better?
Are People afraid to buy a home in a Depression
Mortgage Application Index
(Seasonally Adjusted)
Date Purchase Index
Jan 30, 2009 261.4
Jan 23, 2009 294.3
Jan 16, 2009 303.1
Jan 09, 2009 295.8
Jan 26, 2008 405.3
Jan 19, 2008 362.0
Jan 12, 2008 439.9
Jan 05, 2008 461.2
The Survey covers approximately 40 percent of all U.S. retail residential mortgage orginations and has been conducted weekly since 1990.
Respondents include mortgage bankers, commercial banks and thrifts. The base period for all indexes, March 16, 1990=100.
A reading of 513.4 means mortgage application activity is 5.134 times higher than it was when the MBA began tracking the data.
Is there a correlation between layoff and rent
or
Is it just supply and lack of demand
http://www.reuters.com/article
/marketsNews/idUSN0431707220090205
Landlords are also having a tough time in the recession.
The average apartment rent fell 0.4 percent in the fourth-quarter of 2008, the first decline since early 2003, according to real estate research firm Reis.
Rents are expected to fall another 1.7 percent in 2009, according to Reis.
http://online.wsj.com/article
/SB123249736050400369.html?mod
=todays_us_personal_journal
Early in the housing crisis, former homeowners were starting to rent again, supporting demand for rentals.
Now, with more newly constructed condos being converted into rental units, landlords are struggling to keep buildings occupied.
In a Depression do people just hand their keys back to the bank.
http://www.bloomberg.com
/apps/news?pid=20601103&
sid=a8SoNNq.FFoM
A record 19 million U.S. homes stood empty at the end of 2008 and homeownership fell to an eight-year low as banks seized homes faster than they could sell them.
The number of vacant homes climbed 6.7 percent in the fourth quarter from the same period a year ago, the U.S. Census Bureau said in a report today. The share of empty homes that are for sale rose to 2.9 percent, the most in data that goes back to 1956. The homeownership rate fell to 67.5 percent, matching the rate in the first quarter of 2001.
The worst U.S. housing slump since the Great Depression is deepening as foreclosures drain value from neighboring homes and make it more likely owners will walk away from properties worth less than their mortgages.
What stage of the housing is the US in if there is a Depression.
Does the rules change in a Depression.
http://www.bloomberg.com
/apps/news?pid=20601088&
sid=a8mdg7z0u7Dw&refer=home
U.S. Housing Slump Has ‘Just Begun,’ Says Forecaster Talbott
Let’s say you own a $1 million home in Santa Barbara, California.
The house seemed like a steal when you bought it with that adjustable-rate mortgage in 2005. You still love the white beaches and those yachts bobbing up and down in the harbor.
Then you awaken early one morning, troubled that your monthly payments will soon double. You go out to pick up your newspaper and see for-sale signs on five houses on the street. One identical to yours just sold for $500,000.
Are you going to pay the bank $1 million plus interest for your place? John R. Talbott, a former investment banker for Goldman Sachs, poses that hypothetical question in his latest book of financial prophesy, “Contagion.”
His answer: “I don’t think so,” he says. “If I’m right, then this housing decline has only just begun.”
Can the Ruble Collapse again, if so will Dollar Carry Trade unwind plunging the World Markets to new record low.
http://www.bloomberg.com
/apps/news?pid=20601087&
sid=aeJppBjRiLVc&refer=home
Russia’s central bank is exacerbating the ruble’s 34 percent plunge since August, even as it struggles to defend the exchange rate, by providing loans to banks that speculate on the currency, say Alfa Bank and UniCredit SpA.
UK public sympathy remains with the strikers protesting over direct importation of EU workers.
http://tinyurl.com/cnmrdj
And what makes the headlines ? Snow! and a sudden government initiative to treat growing numbers of elderly. Desperate.
Yes, I'm hot. Duh.
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HAHA! That was funny.
It's like the banks found out they had cancer and their 'family' in Washington freaked out and would pay any price to get them the right kind of care so they wouldn't die. But they are going to anyway.
Just like "they" said we were "heading for a recession", now "they" say we're "heading for a depression".
We're already in the beginning stages of a world-wide depression, which will accelerate once commercial realestate starts to really tank sometime this year.
Amazing isn't it, that the greed of the few have ruined it for the entire world.
Oopsie. The truth slips out every now and again.
They hate that when it happens.
Scares the sheeple.
The D Word: learn it, love it.
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