Topic: Depression II and YOU.

[cecil-kain]

Tens of thousands have lost their jobs these last few weeks, could yours be next?  The pain is coming, are you ready?

[crisis]

Don't mean to sound arrogant or anything, but my job has me secured so I voted bulletproof.

[Clara E. Leet]

I work in video game retail. And it's pretty much been stated that Gaming Retail is recession-proof.

[Profbeanburrito]

I like to remain positive and think that even though it will get worse before it gets better, it will get better. And when it does get better its going to be some good times.

I do have faith in the President, and that he and the rest of Washington will actually do something about it, because really, they have to.

These kinds of things will always happen, there's no way to stop them, its just sometimes they're worst than others.

Anywho, I'm a full time student and I have a pretty secure part time job, so I'm not too worried about myself.

[Battler Ushiromiya]

If this is a depression, then it's Depression III. It was worse in the 70's than it is now- Unemployment was far higher and taxes were ridiculously high. Carter's term in office would definitely be Depression II by those standards.

Neither is as bad as the Great Depression, though. 30% unemployment in the depression doesn't compare to 7.6% today.

[Bizarro Belmont]

People's been saying the horse racing industry's been dying for like, 20-some years now. Plus Derby's on the way...so I'm good regardless of anything.

Plus if they lay me off, I don't care. Wal-Mart and UPS are flourishing in this madness.

[PFG9000]

As employment levels fall, crime levels rise.  So I'm not too worried.  Money does seem tighter though, and it's been impossible to get any overtime lately.

[uzo]

The government never runs out of good high paying positions for smart and educated people. I'm safe.

[A n t r a x x]

I can't afford this sequel

[Bizarro Belmont]

In Reply To #9

Hahahaha.

...

I miss overtime too. RIP more than 40 hours 

[cecil-kain]

If this is a depression, then it's Depression III. It was worse in the 70's than it is now- Unemployment was far higher and taxes were ridiculously high. Carter's term in office would definitely be Depression II by those standards.

Neither is as bad as the Great Depression, though. 30% unemployment in the depression doesn't compare to 7.6% today.

The 70s (Carter era) had 2 major problems. High unemployment and hyperinflation.  High taxes certainly didn't help, and then there was the creation OPEC and an energy crisis that kicked our nation in the nuts.  Anyway, the Fed will usually cut interest rates to fight rising unemployment and quite oppositely raise interest rates to cut inflation.  Carter and his people didn't know how to handle both at the same time.  Then Reagan came along and decided to cut taxes to create jobs and his Fed chief raised the interest rates to curb inflation. Unfortunately, nothing has been done about the OPEC cartel these last 30+ years...  but I digress.

The Carter Reagan recession had quite a few years to work itself out; while we're barely a year into this thing --it's really just getting started.

I've worked in the financial services industry for 10 years and this thing is getting UGLY.  Doomsday politics and mass media panic are driving the country faster and further downhill every single day --and it will definitely get worse before it gets better.