I suppose it is always easier to just say that we are in "tough economic times", but this article in today's Seattle Times tries to help us understand the difference between a recession and a depression
Will recession become the dreaded D-word? Seattle Times Newspaper
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9 comments:
Call it what you want...we're screwed no matter what you call it
while reading the article and reading everyones opionions i was asking myself are we all in denial? Are we leading into a depression and everyone wants to call it a recession so we can all feel better? and if so why? why deny what is going on. Why do we have to make ourselves feel better about this economic crisis? I think we need to accpect what is going on. i do believe that we are leading into a depression, but i hope that we make it out before it turns into that, i think everyone should have hope, but when it comes down to it accpect what it is going on, and inform ourselves.
while reading the article and reading everyones opionions i was realizing that we are all a little in denial. Are we leading into a depression? And if so why? What can we do to head the opposite direction? why deny what is going on.I think we need to accpect what is going on. i believe that we are leading into a depression, but i hope that we make it out before it turns into a much more serious matter, i think everyone should have some faith, but when it comes down to it, accpect what is actually going on because if we dont we will end up way over our heads. How do we get out of a deppression?
I believe that we might be leading into depression because of this country’s economic problems and one problem I can think of is the war in Iraq and Afghanistan, the country is basically wasting a lot of money to support it. In other words, the more troops this country sends to fight, the more money it loses.
Then most people would ask; how do we prevent this problem from turning into another great depression? Well I would say that perhaps we all need to put our differences aside and maybe we can all help one another to prevent this problem from turning into another great depression, that’s my theory anyway and I wouldn’t really say that we can prevent depression or not at all. But I guess it all comes down to decisions really, we all need to make a choice and hope that everyone picks the right one.
i agree with what Peter Morici says. I think, as of now, people want to call it a recesion but in the years to come, we will look back and call it a depression. Becuase if you compare it to the "great" depression, the same situations are happening again but people are afraid of calling it a "depression" becuase some people tend to want to pretend its not happenning. And by saying its a depression, we are admiting that our government is messing up big time and is out of control.
A yo Corragio we need to straight up get our 'conomy back in line cuz right now everything's all whack and stuff, and like, it's not cool. feel me? Yo what we needs to be doing is like, get the government to legalize marijuana because they can be taxin that like noones business, then they'll get hellllla money. Then they use dat money to save our economy. yadidimean? nawatimsayinthough?
-concerned high school student
I think it's safe to say that we are not currently in a state of depression. Perhaps a mild recession, yes, but in my opinion I don't think our economy could ever fail as hard as it did in the 1930's. We are nowhere near the economic downturn that plagued the United Stated with extreme unemployment rates and mass poverty known as "The Great Depression".
I believe our government could do a couple of easy little things to help get us back on our feet. If we get out of Iraq, and stop wasting money on weapons to kill innocent people, we might be able to save some to boost our economy. Legalizing marijuana and taxing it has been a speculated way of raising money to boost the economy. Bailout money given to businesses that will end up spending it on their CEO's vacation trips to the most expensive places on earth could be saved and put to better use to boost our economy! Our government just needs to start being smart with the spending/saving of it's money and we could easily get out of this economic rut we've dug ourselves in to.
-Dylan Dislers
well i think that it would be correct to say that we should be calling it a depression rather than a recession. I think that it would be called a depression but not nearly a "great one" as mentioned in the seattle times article you posted. I would have to say that even though the economy isnt that good, it also could be worse, we could be in a situation like in the 1930's. The economy is in a crisis,yes,but i also believe that it is in a spot that is still savable.I personally believe that our "depression" will be saved in the end.
Dylan E.
I think that the government has been wasting a lot of money. I believe that this recession is a depression and that there are many people in denial. I do not think that it is as bad as the great depression but is still pretty bad. People should just accept the fact that the economy is bad. I hope some how we can get out of this though.
Kyle Danielson
Period 5
Current events #5
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