The word "Depression" . . . .

[Stinky The Clown]

Let me start by stipulating that, under the standard economic definitions, we are not now, nor have we been, in a depression.

So, with that out of the way, can we *discuss* use of the word?

It seems to me that the word is very emotionally charged. Many of us still alive recall first hand The Great Depression or were reared by people who were so affected by it that the emotion of the term was passed down to us. The era is sufficiently close in time to still have resonance. It was, in many ways, more influential on who we are today than was World War II or Viet Nam or the various social movements of the past 50 years.

We have, today, an economic mess that is similar to The Great Depression more in the fact that it is a significant economic downturn than for any one or a series of causes. The causes are in many ways very different. The suffering is more diffuse, thanks in no small measure to the safety net that grew out of the Depression.

The effect on our individual morale, however, is quite similar. As a relative statement, many people have fallen as far from their high water mark as did people of that past era. A job lost today is no less a personal and family crisis than a job lost then. A house foreclosed now is no less gone than one foreclosed then.

There is also the fortunate (or not) coincidence that the word for a severe economic downturn is the same as for a severe emotional downturn. We my not be in an economic depression, but we are surely in a national emotional depression. (Yes, like the economic arguments, it can argued that we're not depressed, but rather, just feeling blue. But does it matter, in a practical sense?)

The national "conversation" (how I loathe that word in this context) is mired in issues at the edges. The real problems are structural and fundamental. The solutions require big, bold, brave, and maybe unpopular steps.

The banking system, as but one example, is completely broken. The tax code is, too. The government of We The People now favors itself over the people, and those who buy their way in over those who vote them in.

It seems to me that using the arguably hyperbolic word "Depression" could be like a slap in the face to a hysterical person. It seems to me it has the power to galvanize a nation to act in favor of change that helps the average person instead of favoring the privileged few.

I would be very supportive of a national leader who used the word to gather support for change that helps the average person.






What are your thoughts about the word?

[slackmaster]

1. I spent 10 years married to a woman who had it

:argh:

[HereSince1628]

2. Talk therapy works for some forms of depression.

I personally think that talk will fix this one.

[kenny blankenship]

3. The best way to paper over a depression is with repression!

Everything is fine. All you people who think the country is in a tailspin just lack moral fiber! Shove all your loss and fear way down deep inside yourself and plaster a fixed smile on your faces and you will be OK! Or at least the bad things will happen to others first. Look, we'll all be OK if we just deny that there are massive problems going unfixed and unaddressed in our land. Stick to the story!

[nashville_brook]

8. all this talk about a bad economy...i hope you enjoy President Palin.

:evilgrin:

oh wait, i thought i was in GDP.

[kentuck]

4. I prefer to call it the Bush Depression ...

I think that is very close to the truth. This is the worst economic downturn since the Great Depression. We will never know how bad it could have been or might still be?

[lemonnn]

5. Not so.

When your coworker losses his job, it's a slowdown. When your neighbor loses his job, it's a recession. When YOU lose your job it's a depression..

We have 17% real unemployment and no quick solutions in site since we have taxed and regulated our jobs overseas. Ask almost any one of those 17% if we are in a recession or a depression.

[xfundy]

9. "taxed and regulated our jobs overseas"???

Actually, American jobs went overseas just so the owners and stockholders of many "American" companies could make enormous profits for themselves while exploiting, in many cases, slave labor; COMMUNIST slave labor. Your buddies on the right are unpatriotic assholes.

Enjoy your brief stay.

[Possumpoint]

6. Take A Close Look At The Difference In Meaning

No one in government will use the word depression unless forced to the wall by a firing squad. Both a recession and a depression are the same thing with the exception that a depression is more severe. Every definition of a recession is matched by depression but by depth. Government, our government, will spin economic figures way out of distortion before ever admitting that we are in a depression.

Depending on depth, if we enter a second dip, the poo may hit the fan and reality may strike home.

[notesdev]

7. back out the government borrowing

and we're in a DEEP depression and getting worse. They're pledging you to slavery in order to pretend something that isn't true.

[Stinky The Clown]

10. We keep hearing of statistical comparisons between the Depression and now

In the last week or so we learned that house values have fallen farther now than during the Depression.

Just now I heard on the CBS Sunday night nooz report that the percentage of the unemployed who have been so for more than 6 months is greater than in the Depression.