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The Next Great Depression?Posted on Mar 31, 2008
It’s looking that way for a growing number of Americans. Record home foreclosures, escalating unemployment and price hikes are hitting them in the gut, creating a record number—28 million—who are in need of food stamps to feed themselves and their families. Forty states are reporting increases in applications for food stamp assistance, which now comes in the form of an electronic card swiped at the checkout counter.
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By cv, April 2 at 8:20 am # What a bunch junk, if you are going to use terms at least know what they mean. This country is not even in a recession. You all do realize that gas is far cheaper in the US than probably any other country. That ahole Obama wants to increase 10 fold the amount of money sent overseas, how is that going to help us at home?
By kcom, April 2 at 7:24 am # If and when an actual depression comes along you people will laugh at yourselves for being so ridiculous in this thread. That’s assuming, of course, you even have computer access at that point to re-read this poppycock. Or the electricity to run the computer to read it on. Or the house or apartment to keep the computer in. Because odds are, you’ll be riding a railroad boxcar somewhere and will have forgotten all about it. I know it serves your interests to promote this depression theme but it’s so ridiculous that it’s laughable. Anybody who really lived through the Great Depression couldn’t look around and say with a straight face that things are worse today. The first rule of dealing with real world problems is to rely on facts, not fantasies. (Yes, I know it was a waste of time typing this. You’re comfy living in your current universe, and have no wish to visit ours.) A few quick stats: Now Then And check out this link to see what a depression really is: Highlights: 1930 - GNP falls 9.4%, unemployment rises from 3.2% to 8.7% 1931 - GNP falls another 8.5%, unemployment rises to 15.9% 1932 - GNP falls a further 13.4%, unemployment rises to 23.9%, stock values down 80% since 1930, farm prices down 53% since 1929, international trade down by two-thirds since 1929
By Mike G, April 2 at 4:12 am # Need to self-dramatizeInvestor’s Business Daily has a good editorial today pointing out that in terms of percentage, the portion of the population receiving food stamps is lower than during Clinton’s first term-- even though there’s a campaign to sign up food stamp users going on right now. Funny that the press didn’t go around crying Depression right before a Democrat was running for reelection, isn’t it? And funny that people have such a need to see their opposition to Bush in such overdramatized fashion. No, you don’t live in a place worse than Nazi Germany and you’re not in a Depression worse than the 30s. If you knew anything about history you’d realize how absurd claims like that are. “At least Hitler meant well” --The Huffington Post
By Porkov, April 2 at 3:42 am # Everyone who has posted here lamenting the onset of another great depression has some form of access to the internet. The word I would use to describe this bitter brew of class envy is “indignorance.”
By yours truly, April 1 at 5:07 pm # How is it that 28,000,000 of us are in need of food stamps when our GDP is 12 trillion dollars or $40,000 per woman, man & child? Injustice and inequality, that’s how. What can we do about it? Elect a president who’ll end the Iraq War, negotiate with Iran plus turning things around here at home. And then what sort of world? It’ll be up to us.
By yours truly, April 1 at 5:02 pm # How is it that 28,000,000 of us are in need of food stamps when our GDP is 12 billion dollars or $40,000 per woman, man & child? Injustice and inequality, that’s how. What can we do about it? Elect a president who’ll end the Iraq War, negotiate with Iran plus turning things around here at home. And then what sort of world? It’ll be up to us.
By Justin Williams, April 1 at 10:48 am # Inflation in HawaiiThink it’s bad on the Mainland? Try Hawaii, particularly the Big Island, the most rural of the islands. $7.00 for a loaf of bread for example. Most of the food here, is shipped from the Mainland to Oahu, then to the Big Island by a shipping company that has a monopoly on imports here. Think oil prices hurt you at the supermarket? Thank the gods that the climate is nice here.
By dale Headley, April 1 at 9:50 am # Stack of turtlesWhat a joke - all this blather about whether or not we’re in a recession. Having grown up in the Depression, I know one when I see one. We are not only in a depression, we are in one that is far more fundamentally damaging than the last. Our economy is currently dedicated to maintaining the comfort of the turtle at the top of the stack - the corporate bosses and their shareholders. But the turtles struggling at the bottom are ignored completely. At some point, the turtles at the bottom will collapse and the whole structure will come crashing down.
By kadinji, April 1 at 7:26 am # Sad, but falseThe Independent’s photograph dates from 2005; yours dates from the 1930’s. The CBO’s “projections...suggest that in 2008...28 million people may be using government food stamps.” “Escalating” unemployment is at historical lows. Your article and the Independent’s peddle distortions, innuendo, and downright lies. Add Your Comment |
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