This has been no garden-variety recession

CHIMO

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Tue Aug-31-10 06:49 PM
Original message

This has been no garden-variety recession

Is this a depression?

What’s a depression anyway? Basically, a depression is a very long recession.

You know you’re in a depression when interest rates go to zero and there is no revival in credit-sensitive spending.

The economy is in a depression when the banks are sitting on $1.3-trillion (U.S.) of cash and yet there is no lending going on to the private sector. It’s called a liquidity trap.

http://www.theglobeandmail.com/globe-investor/investment-ideas/experts-podium/this-has-been-no-garden-variety-recession/article1690710/

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babylonsister

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Tue Aug-31-10 07:01 PM
Response to Original message

1. Is this the good UK paper or the bad one? nt

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CHIMO

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Tue Aug-31-10 07:44 PM
Response to Reply #1

3. It's Not A UK

Paper. It is an American one!

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A HERETIC I AM

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Tue Aug-31-10 08:29 PM
Response to Reply #3

4. An American one? Yeah. North American, anyway.

The Globe and Mail is based in Toronto, Canada.

It can be equated to the New York Times or perhaps USA Today, but it is a Canadian paper, not an American paper.

http://en.wikipedia.org/wiki/The_Globe_and_Mail

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CHIMO

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Tue Aug-31-10 08:53 PM
Response to Reply #4

5. It Is

A Canadian paper.

America comprises North America and South America. Canada occupies part of North America with the US of America. It is an American paper. It is also a North American paper.

Again it is an American paper.

Geography exists.

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A HERETIC I AM

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Tue Aug-31-10 09:04 PM
Response to Reply #5

6. Here ya go....

Might need one of these while you split that hair;

"Geography exists"

Yup. So does proper definition. The Globe and Mail is as American as Toronto. Hows that?

(I would think most Canadians would disagree with you)

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CHIMO

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Tue Aug-31-10 09:15 PM
Response to Reply #6

8. The Globe & Mail

Is an American paper. It is located in Toronto. Toronto ia part of America.

Every time it rains there are clouds in the sky. Every time there are clouds in the sky it rains.

Perhaps some people have a problem accepting reality.

The US is about 1/4 of America.

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A HERETIC I AM

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Tue Aug-31-10 09:50 PM
Response to Reply #8

9. LOL....OK....fine..

In spite of the fact that around the ENTIRE WORLD (including Canada) when one refers to "America" people automatically think "The United States" and not of the entire continent, and in spite of the fact that The Globe and Mail is A CANADIAN NEWSPAPER, you win.

You win. You're right, I'm wrong.

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Crazy Dave

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Wed Sep-01-10 06:42 AM
Response to Reply #9

12. This is funnier than a post I read here before on DU...

Somebody wrote: "People in Canada speak American" :rofl:

I don't think we even speak "American" in the United States. I've always spoke "English".

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Art_from_Ark

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Wed Sep-01-10 12:27 AM
Response to Reply #5

10. It is not an American paper

You were right the first time-- It is a Canadian paper. Go to Canada and call the Globe and Mail an "American" newspaper, or Montreal an "American" city, or the RCMP an "American" police force, and see what kind of reaction you get.

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Warpy

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Tue Aug-31-10 07:28 PM
Response to Original message

2. The difference between a recession and a depression is this:

in a recession, a lot of people lose their jobs and have no money to buy anything; in a depression, it goes on long enough that there's no place left to buy anything if a few people still have the money to do so.

We're not there yet, but without a jobs program, we're headed that way.

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Flying Squirrel

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Wed Sep-01-10 04:37 AM
Response to Reply #2

11. As the old line goes, a recession is when your neighbor loses his job

and a depression is when you lose yours.

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Crazy Dave

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Tue Aug-31-10 09:14 PM
Response to Original message

7. The way most Americans see it....

If their neighbor loses his job and his home it's a recession but if they lose their own job and home then it's a depression.

Then there's the rich and people who have remained employed and haven't been affected yet saying there is neither right now and are believing all the "Recovery Summer" bullshit :puke:

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