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akuma587 on 11 July 2009
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NJ5 said:
Avinash_Tyagi said:
NJ5 said:
Avinash_Tyagi said:
People are still eating out, going on vacation and buying cars (not American, but who can blame them), as well as dong the forms of entertainment that you mentioned, yes everything is depressed and people are looking for sales and good deals, but that is expected, it wouldn't be a recession if that wasn't happening, however it shows, that the economy isn't in a massive retraction that would indicate that things are going to get much worse, it just shows people are being cautious but not panicking.

It seems you're assuming that a severe contraction needs to be severe right from the start. No one is saying the sky is falling and there's misery everywhere, that's not what a prolonged and severe recession means.

 


No i'm not assuming anything of the sort, i'm saying to get to the stage that you seem to believe it will get to, things need to get a lot worse, I don't see evidence of that happening, I see us being at about this level for another 6 to 12 months before things start to turn upwards.

In the Great Depression, things didn't get miserable overnight. I'm sure many people were also looking for sales and good deals in the beginning, middle and end of the depression.

Frankly you haven't brought much relevant data to the discussion, other than saying that "things aren't so bad yet". Well I agree with that, but it doesn't support your assertion that they won't get worse.

 

Unemployment jumped 10% in two years during the Great Depression.  That's pretty close to miserable overnight.

In a year and 6 months, unemployment in America has risen about 4.5% (currently at 9.5% in June).  It was at about 5% in January of 2008.

 



We had two bags of grass, seventy-five pellets of mescaline, five sheets of high-powered blotter acid, a salt shaker half full of cocaine, a whole galaxy of multi-colored uppers, downers, screamers, laughers…Also a quart of tequila, a quart of rum, a case of beer, a pint of raw ether and two dozen amyls.  The only thing that really worried me was the ether.  There is nothing in the world more helpless and irresponsible and depraved than a man in the depths of an ether binge. –Raoul Duke

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